RUSNANO Adopted the Import Substitution Program

15 April 2015

The Board of Directors approved a plan of actions for the implementation of the directive of the Government of the Russian Federation intended for the stagewise substitution, in the process of purchasing, of foreign goods by Russian analogues equivalent in terms of technical features and consumer performance. In the course of the meeting it was also noticed that RUSNANO takes an active part in the implementation of federal import substitution programs in favor of key sectors of economic and socially important projects.

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The Board of Directors approved the allocation of additional financing to OCSiAl S.A. within the scope of the project for the Elaboration of Industrial Technology and Organization of Manufacturing of Carbon Nanotubes. 

These funds will be primarily utilized for the construction of a new unit introduction of which will allow increasing carbon nanotubes output dozens-folds, i.e. up to 50 tons p.a.

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The Board of Directors resolved to merge two investment projects: “SYNBIO: Arrangement of Russian Production of BioBetters Pharmaceuticals Based on Biodegradable Nanocomposites” and “INCAP: Arrangement of Russian Production of Pharmaceuticals for the Treatment of Cancer and Multiple Sclerosis”.

As the result of this merger, RUSNANO will, as a major shareholder, obtain more opportunities for the projects development based on synergy of production sites, technological solutions, and team experience.

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The Board of Directors approved the allocation by RUSNANO of additional financing to Hevel in the amount of RUB 931 mln. Total financing value provided by the project shareholders, RUSNANO and Renova Group, will amount to RUB 1.9 bln. The funds obtained will be utilized for the completion of the construction of a number of solar power plants, manufacturing of solar modules, and for the continuation of research conducted in the thin film technology center in the field of energy industry.

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The Board of Directors approved modified parameters for the implementation of the project for the “Maskless Lithography: Arrangement of Production of Cathode Ray Lithographic Systems with Resolution of at least 22 nm for Industrial and Research Purposes”. In particular, within the scope of financing approved in December 2014 Mapper Lithography Holding B. V. will be granted convertible loans.

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The Board of Directors approved a number of transactions entered into between RUSNANO OJSC and the Fund for Infrastructure and Educational Programs (FIEP), which are affiliate-related due to the members of RUSNANO Board of Directors holding positions in the governance of FIEP. The subject of the transactions is making amendments in investment agreements associated with the adjustment of the procedures for the design activities carried out by “SIGMA. Tomsk” and “SIGMA. Novosibirsk” nanotechnological centers.

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Due to the expiration of the two-years period of work performed by the Supervisory Board of the Fund for Infrastructure and Educational Programs, the Board of Directors resolved to elect it all over again.

Additional information

Reference

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 103 factories and R&D Centers opened in 37 regions in Russia. JSC RUSNANO has profit for the last 5 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.