UK-based startup Plastic Logic is to build a factory in Germany to start making flexible screen on a commercial basis.
The factory in Dresden will use Plastic Logic's patented process to fabricate active-matrix displays that are thin, light and robust; enabling a reading experience closer to paper than any other technology.
The facility will produce display modules for portable electronic reader devices - a product category that is predicted to grow to 41.6 million units in 2010. It will have an initial capacity of more than a million display modules per year and production will start in 2008.
“Even in this age of pervasive digital content, our research shows that consumers are very reluctant to read on laptops, phones and PDAs,” said Simon Jones, Vice President of Product Development at Plastic Logic. “We still carry around enormous amounts of paper. However, people are making less room in their lives for the weight and bulk of paper and are becoming more sensitive to the environmental impact of printing to read. We believe there is a substantial unfulfilled need that Plastic Logic can meet by making digital reading a comfortable and pleasurable experience.”
Late last year the company showed a 10in screen with a resolution of 150dpi suitable for reading text which will be the first product.
“Our displays will enable electronic reader products that are as comfortable and natural to read as paper whether you're on a beach, in a train or relaxing on the sofa at home.” stated John Mills, Chief Operating Officer at Plastic Logic. “Wireless connectivity will allow you to purchase and download a book or pick up the latest edition of your newspaper wherever you are and whenever you need it. The battery will last for thousands of pages so you can leave your charger at home.”
To fund the commercialisation, Plastic Logic has raised $100m from Oak Investment Partners and Tudor Investment Corporation in one of the largest deals in the history of European venture capital. Existing investors such as Amadeus, which led the seed financing of Plastic Logic also participated, along with Intel Capital.
“Plastic Logic has created a pioneering technology that will revolutionize the way that people interact with their media on the move. This investment is a perfect fit with Oak's vision of future media interaction through handheld devices,” said Bandel Carano, Managing Partner at Oak.
Hermann Hauser, Director of Amadeus said: “Having backed Plastic Logic from day one, I am delighted that the first full commercialisation of plastic electronics is now firmly in our sights. With this investment we are not only scaling up a great company - we are also creating a new electronics industry that will become a significant addition to silicon.”
For more information, visit www.plasticlogic.com
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