DowAksa buying 33% stake in Nanotechnology Center of Composites for 134 mln rubles
MOSCOW. Jan 27 (Interfax) - DowAksa Advanced Composites Holdings B.V. signed an agreement to invest 134 million rubles in the charter capital of Nanotechnology Center of Composites (NCC) at the World Economic Forum in Davos, the Composite holding said in a statement.
NCC is a joint project between the Composite holding and the Rusnano Infrastructure and Education Programs Fund (FIEP).
"The partnership with a company of such caliber dramatically increases the value of our project. The collaboration is aimed at the development of novel innovative products, and I am convinced that the Nanotechnology Center for Composites will benefit from every possibility arising from the business and technological cooperation with DowAksa," Rusnano CEO Anatoly Chubais said in the statement.
Composite said that as a result of the agreement, DowAksa, HCC and FIEP will each own one third of NCC's total chapter capital.
In January 2013, Dow Chemical, DowAksa, Rusnano and Composite signed a memorandum of intent (MOI) to develop a comprehensive strategy to launch production of carbon fiber intermediates, composite materials and solutions in Russia
The document envisages the possibility of joint investment into Rusnano's portfolio companies that are part of Composite: CJSC Prepreg-SKM and NCC. At that time, the companies were planning to consider the possibility of working together on the Russian and world market in the power, oil and gas, aerospace and transportation sectors, as well as in projects to create building and transportation infrastructure.
"DowAksa is a recognized leader in the production of carbon fiber. We are very interested in such a powerful partner with a high potential in the production of world-class technologies. We expect that our partnership project based on the Nanotechnology Center for Composites will allow us to effectively apply DowAksa's experience and knowledge, as well as access to new global market channels to develop products made of composite materials that will be produced within NCC's project," Leonid Melamed, the CEO of Holding Company Composite, said in the statement.
NCC, which is based at the Technopolis Moscow technology park, was launched in the summer of last year. The project's budget was more than 2.75 billion rubles, of which Rusnano accounted for 1.1 billion rubles.
This center provides support for startups that create products from polymer composite materials for various industrial fields. NCC's first line of production has been launched, which involves polymer composite materials used in construction, energy and telecommunications. The project includes a scientific research laboratory and a multi-axle machine.
NCC plans to launch its second production line soon. The necessary equipment for producing polymer composite materials has been determined.
The Rusnano Infrastructure and Education Programs Fund was created in 2010 and handles the development of innovative infrastructure in the field of nanotechnology. In particular, the fund carries out a program to create nano-centers that should play the role of technology parks, venture companies and technology sites for startups. The program includes the establishment of more than 12 nano-centers with similar capabilities and working according to the same system, but specializing in different areas.
DowAksa Advanced Composites Holdings BV. is a joint venture between American Dow Chemical and Turkish AKSA Akrilik Kimya Sanayii A.S., which produces acrylic fibers. DowAksa develops and supplies its products and services, particularly carbon fibers, on the composite materials market.
