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Posted: June 8, 2009

RUSNANO Announces New Co-Investor in Nanotechnology-Based Lighting Project

(Nanowerk News) During a meeting at the St. Petersburg Economic Forum, Anatoly Chubais, RUSNANO CEO, and Vyacheslav Shtyrov, President of Republic of Sakha (Yakutia), decided to include OJSC Republican Investment Company (RIC) as a co-investor for the project titled Solid-State Lighting: New Generation of Environmentally Friendly and Energy Efficient Nanotechnology-Based Lighting. This project was approved by RUSNANO Supervisory Council in late 2008. Initially, RUSNANO, ONEXIM, and Yalamov Ural Optical and Mechanical Plant (UOMP) were expected to act as co-investors. Since UOMP would have failed to meet the original project completion date, RUSNANO and ONEXIM Group decided to invite RIC as a project co-investor. The Company has committed to provide 626.34 million rubles for project co-financing.
During the meeting, Anatoly Chubais and Vyacheslav Shtyrov decided to continue co-investing in nanotechnology projects, including those to be located in Yakutia. The parties also addresses future cooperation in venture funds foundation and in training personnel in the Research and Education Center of the Ammosov Yakutsk State University, and discussed government procurement of nanotechnology-based products for Northern Regions and the Far East.
As a result of the meeting, Anatoly Chubais, RUSNANO CEO, and Alexander Fedotov, RIC Director General, inked an agreement on cooperation between RUSNANO and OJSC Republican Investment Company (RIC).
OJSC Republican Investment Company (RIC) was founded in 2005 under the Resolution of the Sakha (Yakutia) Government. RIC is one of the largest companies in the Republic of Sakha (Yakutia), its equity capital being 35.2 billion rubles. The Company makes investments into the construction of Berkakit-Tommot-Yakutsk railway under the federal global program pursuing a joint interest of the Russian Federation and the Republic of Sakha (Yakutia) in setting up a unified reliable transportation system in the North-East Region. RICís activities include financing such programs as installation of gas service in towns and villages, capital construction and renewal of motor roads, power supply facilities, housing, and social facilities in the Republic of Sakha (Yakutia).
Source: RUSNANO (press release)
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