RUSNANO Increases Its Equity Stake in Liotech Ltd. to 59.9999 Percent
Board of directors of RUSNANO approved change of the basic conditions of participation in the investment project for establishment of lithium-ion batteries manufacturing.
In accordance with the board decision RUSNANO’s share in the equity capital of its portfolio company, Liotech Ltd., will increase to 59.9999 percent, by acquiring the part of Thunder Sky Group Limited share in Liotech Ltd.
Liotech Ltd. has now completed the certification of its products and started sales. Company has launched production of advanced lithium-ion batteries in Novosibirsk on December 8, 2011.
RUSNANO was founded in March 2011 as an open joint stock company through reorganization of state corporation Russian Corporation of Nanotechnologies. RUSNANO's mission is to develop the Russian nanotechnology industry through co-investment in nanotechnology projects with substantial economic potential or social benefit. The Government of the Russian Federation owns 100 percent of the shares in RUSNANO. Anatoly Chubais is CEO and chairman of the Executive Board of RUSNANO.
Work to establish nanotechnology infrastructure and training for nanotechnology specialists, formerly conducted by the Russian Corporation of Nanotechnologies, has been entrusted to the Fund for Infrastructure and Educational Programs, a non-commercial fund also established through reorganization of the Russian Corporation of Nanotechnologies.