The Russian Corporation of Nanotechnologies (RUSNANO), which recently agreed to put $250 million in EuroTech Transfer Fund, has invested $150 million in exchange for 25% stake in U.K. and U.S.-based plastic electronics technology development and production company Plastic Logic, reported newspaper Vedomosti. The funds will be used to set up a production facility for plastic electronics displays in Russia. Rusnano will also help Plastic Logic get debt financing of $100 million, according to the paper.
The deal was first announced by both Rusnano (Роснано) and Plastic Logic in November 2010. However, it’s only now when the investment amount was revealed.
Plastic Logic previously raised over $200 million from Amadeus Capital Partners, Intel Capital, Dow Venture Capital, BASF Venture Capital, Polytechnos Venture Partners, Oak Investment Partners, Raptor Capital Management, Bank of America Equity Partners, Nanotech Partners, Morningside Technology Ventures and Yasuda Enterprise Development.
Oak Investment Partners will invest $50 million in Plastic Logic in the current financing round.