Plastic Logic announced last week that the company's Board of Directors has appointed Richard Archuleta to the position of Chief Executive Officer and member of the company's Board of Directors. In addition, the Board of Director's has appointed Stratton Sclavos as a Non-Executive Director.
Mr. Archuleta brings with him over 25 years experience in the technology industry at Hewlett-Packard, most recently as Senior Vice President. He has led multiple businesses through significant business transformations, rapid growth and international expansion in the areas of mobile computing, servers and e-commerce. He was also named "Mobile Industry Person of the Year" in 1998 by Mobile Computing Magazine in recognition of his leadership in the notebook PC business.
Mr. Sclavos was Chief Executive Officer of VeriSign best-known for its internet infrastructure management. He led the company during its development of secure e-payment systems but more recently, its mobile content distribution business. He was honored with the 2001 Morgan Stanley Leadership Award for Global Commerce.
Plastic Logic announced in January that it has raised over $100 million of equity finance led by Oak Investment Partners and Tudor Investment Corporation and existing investors Amadeus Capital Partners, Intel Capital, Bank of America, BASF, Quest for Growth and Merifin Capital. The funding is being used to build the first factory to commercialize flexible e-paper displays.
The facility will exploit the company's unique technology to produce more than a million 10 inch displays a year. The process removes the need for a fragile glass active-matrix backplane in the display and is scalable to larger sizes. The resulting display is thin, light and shatterproof and therefore much more like paper than any other display technology. The company's manufacturing facility is in Dresden, Germany and its R&D base is in Cambridge UK. An office in the San Francisco Bay Area will be opened in the next few weeks to drive epaper
products utilizing Plastic Logic's display technology. The company plans to grow rapidly in all three locations to attract world-class talent across its activities from process development to product design.
"Plastic Logic is an incredibly ambitious company. With his high industry profile and impressive track record, Richard is a leader of a calibre that matches that ambition. Stratton will bring extensive experience of internet communications and content distribution networks. We all look forward to working with them during the next exciting phase of the company's development," said Tony Illsley, Chairman of the Board of Plastic Logic.
"The first application of the company's core plastic electronics technology in revolutionary flexible displays has very exciting market potential. Plastic Logic has made amazing progress and has the backing of a first class investor base. I am delighted to be part of such a unique opportunity," said Richard Archuleta.
"Plastic Logic's e-paper technology has the potential to radically change the way the world consumes information and entertainment and I am excited about working with this great team as we pioneer a new industry," said Stratton Sclavos.
About Plastic Logic
Plastic Logic is a leading developer of plastic electronics - a new technology for manufacturing (or printing) electronics. The Plastic Logic approach solves the critical issues in manufacturing high resolution transistor arrays on flexible plastic substrates by using a low temperature process without mask alignment that is scaleable for large area, high volume and Plastic Logic is a leading developer of plastic electronics - a new technology for manufacturing (or printing) electronics.
The Plastic Logic approach solves the critical issues in manufacturing high resolution transistor arrays on flexible plastic substrates by using a low temperature process without mask alignment that is scaleable for large area, high volume and low cost.
This enables radical new product concepts in a wide range of applications including flexible displays and sensors. Independent experts from IDTechEx forecast plastic electronics will be a $30 billion industry by 2015, and could reach as much as $250 billion by 2025.
Plastic Logic has a team of more than 90 employees based in Cambridge, UK and Dresden, Germany.