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Posted: Dec 30, 2010

RUSNANO and Russian Venture Company Finance First Nanotechnology Project with an Israeli Company

(Nanowerk News) RUSNANO and Russian Venture Company have begun financing a project to set up production in Russia of single- and multilayered substrates for LED assemblies and other electronics items. The project will use patented ALOX™ substrate technology developed by project applicant Micro Components Ltd.
The first investment of 180 million rubles in owner's equity of project company MCLR Ltd. was carried out on a parity basis with co-investor venture fund in trust management of Asset Management company «Innovative solutions». Micro Components Ltd. (MCL), the project applicant, will contribute nonmaterial assets—license for use of the ALOX™ technology valued at 330 million rubles. Project plans include additional funding through company equity investment and borrowings. Overall size of the project is around one billion rubles.
ALOX™ substrates are composed of two parts — a conducting layer of aluminum or copper and a layer of dielectric material. The substrates derive their considerable competitive advance, of high thermal conductivity over traditionally produced substrates from the ALOX™ dielectric material, which has a nanoporous structure.
"This project is an excellent example of cooperation in nanotechnology with an Israeli company. The country is renowned for its innovative developments. The ALOX™ technology has already proven its worth in LED substrates. The technology has one of the best cost-to-quality ratios," noted Vasily Kostyanovsky, chairman of the Board of Directors of MCLR Ltd. and RUSNANO senior investment manager.
"We are proud and excited to receive financing from two major industrial and financial Russian organizations, to establish a production facility for ALOX™ substrates in Russia", Stated Dr. Uri Mirsky Founder and CEO of MCL; "We expect MCLR to become a major provider of ALOX™ nanotechnology for substrates and assemblies to the Russian and global LED industry and markets".
"The project is a perfect example of attracting an advanced technology and highly skilled professionals to Russia. Such integration between Russia and Israel in high technology field is very important," said Sergey Doronin, General Director at the Innovative solutions Asset management company.
Daniel Gimpel, Tamir Fishman Managing Partner said: "With this investment, the ALOX™ technology will be further developed for large scale manufacturing and enable MCL to become a major international supplier of substrate panels for the fast emerging LED market."
"We see ideal conditions for further development of the ALOX™ technology in Russia, due to the high quality of engineers available, the strong LED market presence of manufacturers, new supporting Russian Federal law on LED lighting, and excellent co-investing partner RUSNANO," he added.
About Micro Components Ltd.
Micro Components Ltd. (MCL) designs, manufactures, and markets superior packaging solutions to the advanced semiconductors packaging market. MCL specializes in developing and manufacturing substrates and boards with high thermal conductivity. Its products are based on innovative technical solutions that company specialists develop for use in the electronics industry. Focusing on the high brightness LED packaging application ALOX™ technology is currently in pilot production in Israel and in production and use by companies in Malaysia and Korea. Dr. Mirsky Contact:;
About Innovative Solutions Asset Management Venture fund
Innovative Solutions Asset Management venture fund was established in 2008 in partnership with JSC "RVC" and a private investor. Innovative Solutions cooperates with Israeli advisor and partner Tamir Fishman Group. Venture fund assets comprise 2 billion rubles and are invested in high tech innovative projects.
About Tamir Fishman Group
The Tamir Fishman Group is Israel's leading and fastest growing full-service financial group. Through our strategic partnership with RBC Capital Markets, we give clients access to global markets, benchmark research and world-class investment products. The host of domestic and international investment banking services we offer include: venture capital, corporate finance: public offerings, private placements, M&A and advisory services, underwriting of public offerings on the Tel Aviv Stock Exchange (TASE), local and global asset management: portfolio management, mutual funds management, real estate fund Eastern Europe, equities research, management and outsourcing of corporate benefits services and trustee services.
Tamir Fishman has 150 employees in Tel Aviv, with total assets under management of $3.2 billion, and has managed global corporate-finance transactions in excess of $5 billion for Israel-based clients.
About Russian Venture Company
Russian Venture Company (OJVC) is a government fund of venture funds. RVC's is one of the Russian Federation's key tools in building a national innovation ecosystem. RVC's mission is to promote Russia's domestic venture capital industry by capitalizing venture funds, most of them privately-owned. As of December 2010, RVC has backed ten funds with a capitalization, collectively, of RUB 22 billion (USD 710 million). RVC's stake in these funds is, collectively, RUB 12 billion (USD 383 million). Also as of December 2010, these RVC-backed funds collectively had a portfolio of 56 companies in which they had invested capital of RUB 6 billion (USD 200 million).
RVC was established pursuant to Order No. 838-r of the Russian government on June 7, 2006, and is 100% owned by the Federal Agency for State Property Management (Rosimuschestvo). It has an authorized capital of RUB 30 billion (USD 960 million). In the years to come, RVC is expected to play a pivotal role in the development of the Russian venture capital industry. Media contact for Russian Venture Company.
Source: RUSNANO (press release)
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