Dec 1 2005
BASF, is investing in Plastic Logic Ltd., Cambridge, United Kingdom. Plastic Logic is one of the leading companies in the field of printable electronics, developing proprietary processes and technologies for use in a wide range of applications, including flexible displays and sensors.
Plastic Logic has raised £13.9 million (about €20 million) in its Series C funding, of which BASF Venture Capital has provided £one million. Other companies participating in the financing round include Amadeus Capital Partners, PolyTechnos Venture Partners, Intel Capital, Siemens Venture Capital, Morningside Capital, BA Capital Partner, Nanotech Partners, Dow Chemical, and Quest Management.
Plastic Logic’s technology has been used to develop a high volume and low cost process in which electronic circuits are printed on thin and flexible plastic substrates. This process is less complex than traditional silicon-based technology. Plastic Logic plans to license out its technology for use in applications such as flexible e-paper displays. Industry analysts forecast printable electronics will be a $30 billion industry by 2015.
“As a result of the financing, Plastic Logic will be able to extend its research and development capabilities, and accelerate the commercialisation of its technology,” said Darren Budd, BASF Venture Capital’s investment manager.
Plastic Logic was founded in November 2000 as a spinout from Cambridge University’s Cavendish laboratory. The company has 48 employees and state-of-the-art clean room facilities at the Cambridge Science Park.
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