OREANDA-NEWS. May 23, 2011. RUSNANO opens a new production site for its portfolio company RMT specializing in manufacture of thermoelectric cooling devices. These components are widely used for cooling lasers, photodetectors and integrated circuits (ICs). The smaller-scale cooling elements effectively dissipate heat generated by power-hungry devices used in modern telecommunications, high-performance computing and optoelectronics industries. The total budget of the project is around 800 million roubles of which RUSNANO finances 150 million roubles. Their co-investor is the closed-end high-risk (venture) investment fund “S-Group Ventures”, established with capital raised from the Russian Venture Company.

This project is a bright example of how the research done by Russian scientists has been commercialized to a full-scale production of innovative products greatly demanded by the world hi-tech market.

RMT was founded by a team of researcher from varioius scientific institutions including the Lebedev Physical Institute of the Russian Academy of Sciences (LPI RAS). Their start-up received support from the Foundation for Assistance to Small Innovative Enterprises in the field of science and technology (the Bortnik Foundation). In 2009 the Supervisory Board of RUSNANO approved the financing of a project with the goal of increasing the production of thermoelectric cooling devices for opto-, micro- and nanoelectronics.

RMT manufactures approximately 300,000 parts per year, and 80% of them are exported to the USA, Canada, Japan, Europe and South-East Asia. In 2010 the company's revenue exceeded 146 million roubles. RUSNANO estimates that this figure will rise to around 1.3 billion roubles by 2015 after the expansion of production capacity. The RMT’s share of the global market for thermoelectric cooling systems is expected to rise to 10% by 2015.

RUSNANO CEO Anatoly Chubais, RMT Director-General Gennady Gromov, academic and Director of the Lebedev Physical Institute RAN Gennady Mesyats, and the head of the Moscow Department of Science and Industrial Policy, Evgeniy Balashov took part in the opening ceremony for the new production site.