Russia’s state-backed Russian Corporation of Nanotechnologies (Rusnano) will invest about $650 million in Plastic Logic, Financial Times reports. The nanotechnology corporation will pay an initial $150 million to get an immediate stake of about 25% in Plastic Logic.
The Russian government may take control of the cheap plastic microchips maker when the rest of the finance is arranged. Under the new Russian-backed plans, Plastic Logic will set up a new factory near Moscow and boost its liaison with Russian scientists.
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