Rusnano

Rusnano

Founded	Moscow, Russia (2007 (2007))
Headquarters	, Moscow, Russia
Key people	Anatoly Chubais (Chairman of the Executive Board and CEO)
Employees	470 (2010)[1]
Website	[1]

Rusnano (Russian: Роснано) (formerly Russian Corporation of Nanotechnologies) is a joint-stock company created and owned by the government of Russia and aimed at commercializing developments in nanotechnology. Rusnano's task is to create by 2015 a nano-industry in the country that will make marketable products worth 900 billion rubles ($29 billion)^[2].

One hundred percent of the shares in RUSNANO have become the property of the government. At this moment, the Board of Directors and the Auditing Commission have been formed; the chairman of the Executive Board has been appointed—Anatoly Chubais. During its first meeting, planned for late March 2011, the Board of Directors of RUSNANO will form the Executive Board of the company.^[3]

History

A law (On the Russian Nanotechnology Corporation) which resulted in the creation of "Russian Corporation of Nanotechnologies" was proposed by several members of the United Russia party on June 2007. The proposal passed its first reading in the State Duma on June 14^[4] and final reading on July 4. The upper house, the Federation Council, approved it on July 6.^[5] Initially organised as a state corporation, the company was re-registered on March 11, 2011 as open joint-stock company RUSNANO.

Management Bodies

The CEO of RUSNANO is appointed by decree of the President of the Russian Federation. The Supervisory Council is the highest management body of the corporation. The Supervisory Council appoints members of the Executive Board.

On September 7, 2007 Vladimir Putin appointed Leonid Melamed, a former deputy CEO RAO UES, Director General of Rusnano. On 22 September 2008 President of Russia Dmitry Medvedev appointed Anatoly Chubais as the Director General of Rusnano. The same decree removed former Director General Leonid Melamed from his position.^[6]

Members of the Supervisory Council as of December 31, 2009^[7]

1. Andrey Fursenko, Chairman, Supervisory Council, Minister of Education and Science of the Russian Federation
2. Vladimir Dmitriev, Chairman, Bank for Development and Foreign Economic Affairs (Vnesheconombank)
3. Mikhail Kovalchuk, Director, Russian Research Center Kurchatov Institute
4. Andrey Kokoshin, First Deputy Chairman, State Duma Committee on Science and Science-Intensive Technologies
5. Dmitry Mezentsev, Governor, Irkutsk Oblast
6. Leonid Melamed, President, Effortel
7. Elvira Nabiullina, Minister of Economic Development of the Russian Federation
8. Vladimir Nazarov, Deputy Secretary of the Security Council of the Russian Federation
9. Mikhail Pogosyan, Director General, Sukhoi Company
10. Vasily Popik, Deputy Head, Presidential Experts’ Directorate of the Russian Federation
11. Mikhail Prokhorov, President, ONEXIM Group
12. Evgeny Fedorov, Chairman, State Duma Committee on Economic Policy and Entrepreneurship
13. Viktor Khristenko, Minister of Industry and Trade of the Russian Federation
14. Husein Chechenov, Chairman, Federation Council Committee on Education and Science
15. Anatoly Chubais, Chairman, Executive Board and Chief Executive Officer Russian Corporation of Nanotechnologies

Funds

The source of financing for the activities of Rusnano in 2008 and 2009 was an asset contribution of 130 billion rubles from the Russian Federation, received in November 2007. During 2009 capital of Rusnano decreased by 58.768 billion rubles and at year end stood at 76.638 billion rubles. The change in the corporation’s capital is attributable to the return of 66.4 billion rubles of the asset contribution to the Russian Federation, expenditures of 3.617 billion rubles in fulfillment of the corporation’s purposes, and net income of 11.251 billion rubles earned largely from temporarily free monetary resources deposited in accounts at commercial banks in accordance with recommendations from the Ministry of Finance of the Russian Federation.^[8]. Rusnano also intends to attract additional investment by issuing state-guaranteed bonds^[9]

Activities

In 2009 the Russian Corporation of Nanotechnologies received 634 requests for project cofinancing. The projects have aggregate budgets of 1.355 trillion rubles of which 712.3 billion rubles were requested from the corporation. A significant percentage of the requests were for new production or modernization of existing processes and fixed assets.

All requests that enter the corporation go through a multi-staged system of expert evaluation. In 2009, for various reasons, 467 projects (including some that had been received in 2008) were denied cofinancing. The Supervisory Council of the corporation approved 54 projects during 2009, projects in solar energy, mechanical engineering, metalwork, nanoelectronics, medicine, and venture financing. The total budget for these projects is 181.6 billion rubles of which 86.6 billion rubles were requested from the corporation. Fifty-three projects that have passed all evaluation steps and the Science and Technology Board will be brought to the Supervisory Council in the first half of 2010.

In sum during 2008–2009, the Supervisory Council of the corporation approved 61 projects. Their budgets total 192.3 billion rubles and include 92.4 billion rubles that RUSNANO will cofinance. A considerable share of these projects is oriented toward the priority areas for modernizing the economy of the country that President of the Russian Federation Dmitry Medvedev has declared. These 61 projects are forecasted to earn revenue from sales in excess of 130 billion rubles annually by 2015. In 2008 and 2009 the corporation financed 17 approved projects, dispersing 32.2 billion rubles through the end of 2009. Four manufacturing projects earned their first revenues in 2007—176.5 million rubles.

Investment projects

All Rusnano projects^[10] can be grouped into 6 clusters^[11]:

1. solar energy and energy saving^[12] 4
2. nanostructured materials^[13];
3. medicine and biotech^[14];
4. mechanical engineering and metal working^[15];
5. optoelectronics and nanoelectronics^[16];
6. infrastructure projects^[17].

References

1. ^ Fostering Nanotechnology Innovation in Russia - MIT World
2. ^ WSJ
3. ^ http://www.rusnano.com/Post.aspx/Show/30767
4. ^ Full text in Russian
5. ^ Wired
6. ^ Чубайс возглавил "Роснанотех" Grani.ru (Russian)
7. ^ Rusnano Annual report 2009
8. ^ Annual Financial (Accounting) Report of the Russian Corporation of Nanotechnologies for the Year 2009
9. ^ Bloomberg
10. ^ RUSNANO projects on web-site
11. ^ Перечень проектов // Роснано (Russian)
12. ^ Кластер проектов: солнечная энергетика и энергосбережение // Роснано (Russian)
13. ^ Кластер проектов: наноструктурированные материалы // Роснано (Russian)
14. ^ Кластер проектов: медицина и биотехнологии // Роснано (Russian)
15. ^ Кластер проектов: машиностроение и металлообработка // Роснано (Russian)
16. ^ Кластер проектов: оптоэлектроника и наноэлектроника // Роснано (Russian)
17. ^ Кластер проектов: инфраструктура // Роснано (Russian)

• Official web-site
• Rusnano Annual report 2009
• Rusnano Annual report 2008
• Nanotech projects at RusNanoNet.ru (Russian)