Powers of RUSNANO Management Company to Manage Assets of JSC RUSNANO Extended for Another 10 Years
JSC RUSNANO’s General Shareholders Meeting has approved the transfer of the powers of the Company’s sole executive body to RUSNANO Management Company LLC for 10 years. The decision was approved by JSC RUSNANO’s sole shareholder, on the basis of the relevant Orders of the Government of the Russian Federation.
JSC RUSNANO’s Board of Directors approved the terms of the new management agreement in December 2018.
The previous agreement between JSC RUSNANO and RUSNANO Management Company LLC was concluded in February 2014, for a period of 5 years, and expires on February 11, 2019. On the basis of that agreement RUSNANO Management Company LLC carries out the functions of the sole executive body of JSC RUSNANO, which has an investment portfolio of nanotechnology projects.
RUSNANO Joint-Stock Company was founded in March 2011 through reorganization of state corporation Russian Corporation of Nanotechnologies. JSC RUSNANO contributes to implementation of the state policy on the development of the nanotechnology industry by investing directly and through investment funds of nanotechnology in financially effective high-technology projects providing the development of new production facilities in the Russian Federation. Its primary investment focus is in electronics, optoelectronics and telecommunications, healthcare and biotechnology, metallurgy and metalwork, energy, mechanical engineering and instrument making, construction and industrial materials, chemicals and petrochemicals. 100 percent of RUSNANO’s shares are state owned. Thanks to RUSNANO’s investments, there are currently 97 factories and R&D Centers opened in 37 regions in Russia. JSC RUSNANO has profit for the last 4 years.
Management of assets of RUSNANO JSC is carried out by Limited Liability Company established in December 2013, RUSNANO Management Company. Anatoly Chubais is the Chairman of its Executive Board.
Work to establish nanotechnology infrastructure and carry out educational programs is fulfilled by RUSNANO’s Fund for Infrastructure and Educational Programs, which was also established during the reorganization of the Russian Corporation of Nanotechnologies.