OREANDA-NEWS. November 30, 2011. At its meeting, the Board of Directors of RUSNANO approved the company’s participation in two new investment projects. Projects budgets exceed 19.4 billion rubles. Of that sum, RUSNANO will co-invest 3.31 billion rubles.

The project company within the first project will produce specialized equipment in Russia for preparing functional coatings and consumables for the equipment. The nanocomposite coatings are applied using innovative technology-an advance in solation methods (transformation of a gel into a sol) whose application is as simple as ink-jet printing. The technology will be used to manufacture low-emission glass, photodiodes for solar modules, and coatings for displays and semiconductors.

The second project is also built on unique technologies that make it possible to combine production cycles for two products-magnesium metal and precipitated silica with nanosized structure. The precipitated silica has wide application as active filler, in tires for cars and trucks, shoes, rubber goods, glues, paper, coatings, medicine, and cosmetics. Project company Russian Magnesium will be able to meet domestic demand for the products, which will reduce dependence of Russian businesses on imported feedstock. Demand for magnesium metal comes from the automotive, aerospace, metallurgy, and electronics industries.

As required by federal law № 223-FZ On Purchase of Goods, Work, and Services by Certain Types of Legal Entities dated July 18, 2011, the Board of Directors endorsed regulations, approved earlier by the Executive Board, for the company’s procurement activities. The document establishes principles for organizing procurement and the manner in which purchases are planned, procurement procedures are carried out, and tender winners are determined. It addresses documentation of decisions and content of agreements.

The Board of Directors gave its consent for Oleg Kiselev and Yuri Udaltsov, both members of the Executive Board of RUSNANO, to combine their posts with positions on boards of directors of RUSNANO’s investment project companies. Mr. Kiselev will serve on the Board of Directors of Panacela Labs, Inc., part of RUSNANO’s investment project to develop and produce anti-cancer drugs based on nanoformulated molecular modulators of cellular stress. Mr. Udaltsov has been appointed to the boards of directors of Selecta Biosciences, Inc. and BIND Biosciences, Inc., companies realizing, with support from RUSNANO, a project to develop innovative drugs and vaccines based on new generation nanoplatforms and to bring them to global markets.