OREANDA-NEWS. The Board of Directors approved amendments to the strategy of RUSNANO up to 2020. The amendments include postponement of the target date for bringing Russian non-government investors and international investors into the capital of RUSNANO Management Company LLC until the period after 2015, due to new external challenges. The objective of finding a strategic partner has also been put off until the longer term. In connection with these changes one of the key performance indicators of RUSNANO, the level of participation by private investors in the share capital of RUSNANO Management Company LLC, will no longer envisage a target of 20% for 2014.

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The Board of Directors approved the short-term financial plan of the Company for 2015. According to the approved document, RUSNANO will invest 30.7 billion rubles in nanotechnology production projects during 2015. A sum of 31.1 billion rubles will be allocated for servicing of long-term investment loans and borrowings, which were received previously under state guarantees issued by the Russian government. A sum of 3.3 billion rubles, excluding VAT, will be paid to RUSNANO Management Company LLC as commission for management of the Company’s assets.

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The RUSNANO Board approved a number of interrelated transactions, in which a Board member of RUSNANO Management Company LLC, Yury Udaltsov, was an interested party by virtue of his position as a member of the Board of Directors of the RUSNANO portfolio company, OCSIAL S.a.r.l. The transactions were related to the acquisition of shares in OCSIAL S.a.r.l. from the company SIGMA Innovations LLC.

OCSIAL has invented a fundamentally new method for the synthesis of single-walled carbon nanotubes. In July 2012 the project, which was then in the initial stage of development (creation of a first working model of the reactor), received financing from RUSNANO’s Fund for Infrastructure and Educational Programs via the Novosibirsk Nanocenter.

OCSIAL has made significant progress in the period since financing began. A pilot installation was commissioned in November 2013 for the production of single-walled nanotubes under the TUBALL brand. Their use, even in small quantities, greatly enhances the properties of base materials. For example, the inclusion of nanotubes in the production of carbon-fiber composites increases their strength by 20%. The technology for production of nanotubes has now been perfected and first batches have been produced.

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The Board of Directors approved a transaction between RUSNANO and the Fund for Infrastructure and Educational Programs (FIEP), in which members of the Board of Directors of RUSNANO are interested parties by virtue of holding management positions in the FIEP. The transaction concerns amendments to an investment agreement related to the project work by the Idea Nanotechnology Centre, which is based in the Republic of Tatarstan.

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The Board of Directors determined the procedure for the use of rights arising from shares owned by RUSNANO in the authorized capital of RUSNANO Management Company LLC, including the procedure for voting at the general meeting of shareholders of RUSNANO Management Company LLC on various corporate matters.

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The Board of Directors approved participation by RUSNANO in the next round of funding for Mapper Lithography Holding B. V. as part of a “Maskless lithography’ project, which aims to produce electron-beam lithography systems with resolution of 22 nm and above for industrial and research applications”. The final parameters of the round will be disclosed after its completion.