Central regions | Energy, utilities | Finance, business
Rusnano and RusHydro to set up $200m venture fund for energy development
4 Sep '14
Rusnano, Russia’s nanotech giant, and RusHydro, the largest national hydroelectric power company, are in talks over the planned setup of a $200m VC fund. The parties intend to split the cost of establishing the fund on a 50/50 basis, the Russian news agency MA-agency.ru reported, citing Rusnano president Anatoly Chubais.
The prospective venture fund is expected to focus on projects in the field of electricity generation.
Also, according to Mr. Chubais, Metaclay, a Rusnano subsidiary based in Bryansk, in Central Russia, has been negotiating its participation in the construction of the South Stream and Strength of Siberia gas pipeline projects, bringing in its proprietary nanocoating to be applied to pipes.
Experts have reportedly found that the Russian nanocoating surpasses in quality some international analogs, including the products of Borealis, a world leader in the sector.