Government-owned investment company Finnish Industry Investment Ltd and Russian Corporation of Nanotechnologies (RUSNANO) on Thursday signed an agreement on a Finno-Russian nanotechnology investment programme.
The aim of the cooperation is to co-invest a total of MEUR 50 in rapidly growing and internationalising nanotechnology companies operating in both Finland and Russia.
Industry Investment and RUSNANO are evaluating possible target companies and will invest in them jointly and on equal terms. The investment programme will last three years.
We believe that combining top-level Finnish knowhow with top-level Russian expertise will produce technology that is globally competitive, comments Industry Investments President & CEO, Juha Marjosola.
Drawing on both RUSNANOs and Industry Investments solid experience, we have together reviewed the deal flow and identified a number of interesting companies. The first joint investment can be implemented within six months.
This co-investment programme will allow us to consolidate our resources and experience in developing innovative companies, thus opening new opportunities for Russian technologies to enter global markets,” says RUSNANOs CEO Anatoly Chubais.
Finlands Prime Minister Matti Vanhanen, Russias Prime Minister Vladimir Putin and Finlands Minister of Economic Affairs Mauri Pekkarinen attended the signing of the cooperation agreement on nanotechnology investment at the 1st EURussia Innovation Forum, which was held in the Finnish city of Lappeenranta.
Finnish Industry Investment Ltd is a government-owned investment company whose mission is to promote Finnish business, employment and economic growth through capital investment. Finnish Industry Investment invests in funds and directly in growth companies. Capital investments are needed for financing growth, and for internationalisation, spin-offs, major industrial investments, and both sectoral and corporate restructurings. The targets are in all sectors. The company co-invests with private investors, limiting its investment to at most half the capital invested and ownership. The investments of Finnish Industry Investment amount to MEUR 650. www.industryinvestment.com
The Russian Corporation of Nanotechnologies (RUSNANO) was established in 2007 to enable government policy in the field of nanotechnology. To accomplish this task, RUSNANO co-invests in nanotechnology industry projects that have high commercial potential or social benefit. Early-stage investment by RUSNANO lowers the risk of its investment partners from the private sector. RUSNANO participates in building nanotechnology infrastructure, which includes nanotechnology centers of excellence, business incubators and early stage investment funds. RUSNANO provides the scientific and educational programmes that are required for its investment projects to succeed, and also supports the popularisation of nanoscience and nanotechnology. RUSNANO selects promising spheres for investment based on longer-term foresight created by leading Russian and world experts. To assist the Russian nanotechnology industry in advancing into the global market and strengthening its international links, RUSNANO develops partnerships with leading nanotechnology centers around the world and organises the annual Nanotechnology International Forum in Russia. www.rusnano.com
More information:
– Juha Marjosola, President & CEO, Finnish Industry Investment Ltd,
tel. +358 50 62 636, juha.marjosola (at) industryinvestment.com
– Anatoly Chubais, CEO, The Russian Corporation of Nanotechnologies, (RUSNANO), International press office: tel. +7 495 5424444 add.1424, press.rusnano (at) rusnano.com
– Website of 1st EURussia Innovation Forum: www.eurussiainnoforum.com