Companies sign Agreement to Clarify Investment in Nanotechnology Centre
DowAksa, Rusnano and Holding Company Composite have recently signed an agreement that clarifies the terms of future investments in the Nanotechnology Centre of Composites, which is a joint project of HCC, and the Fund for Infrastructure and Educational Programs.
When legal agreements are finalised in the next several months, DowAksa will become an equal participant of the Nanotechnology Centre of Composites. DowAksa is anticipating to take part in the second round of financing of NCC and invest in NCC Charter Capital the amount of approximately 134 Million Rubles (approximately $4.3 Million USD) which translates to a 33 1/3 percent share. This anticipated investment is included in the current DowAksa 10 year business plan and is funded by the initial investment by Shareholders. HCC and FIEP are also anticipating to take part in the second round of financing and are going to invest their portion of contribution simultaneously with DowAksa.
Already today the Nanotechnology Centre of Composites is a foundation for start-ups in production of polymer composite materials for the growing industrial sectors including construction, energy and automotive. By now, only one line has been launched in the Nanotechnology Centre of Composites to produce polymer composite materials to be used in construction, energy, IT; the Сenter is also equipped with the high-tech scientific laboratory and one of its kind multi-axial machine. The 2nd production line is to be launched soon. The Centre will showcase latest technologies of polymer composites processing in Russia.
Douglas Parks, DowAksa Board Member and Dow Global Business Director for Lightweight Materials and Government Markets said;
When finalised, this agreement will provide DowAksa accelerated access to the growing Russian carbon fibre composite market with specific focus on Oil & Gas and Infrastructure applications, as well as significantly reduce DowAksa internal investment costs by providing unique access to world class engineering resources, pilot manufacturing equipment/capabilities, and novel product development. In exchange, DowAksa will provide access to global market channels, exposure to international partners, and the opportunity to provide services to an international audience. This is truly a ‘win-win’ scenario for all parties involved.