Plastic Logic Moving to Russia?

According to an article on the Financial Times, Plastic Logic is looking for funding and are in advanced talks with a Russian state-owned company called Rusnano.

Rusnano is a nanotechnology corporation that, if the deal goes through, would get control of the UK-based company and require it to move its production facility for the next phase of the technology to Russia.

According to the article, the Chinese government also tried to reach a deal with Plastic Logic for funding, but the two sides could not come to terms on an agreement.

Plastic Logic has received over $200 million in funding since it started in 2000 from major corporations like Intel and BASF of Germany. And will need hundreds of millions of more dollars to continue to finance the making of plastic chips in the long-term.

It’s funny how the Financial Times portrays Plastic Logic as being a “world-beating” UK technology company and they write that “Plastic semiconductors would be a lot cheaper to produce than current-day silicon chips, thereby cutting the price of electronic circuitry by up to 90 per cent.”

So if the technology behind Plastic Logic is so cheap, they why did they have to ditch their line of business ereaders because they were way overpriced, starting a whopping $649?