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DowAksa announces investments in the Nanotechnology Center of Composites

January 29, 2014

ENP Newswire - 29 January 2014 Release date- 28012014 - Davos, Switzerland - DowAksa Advanced Composites Holdings B.V. and the Nanotechnology Center of Composites (NCC), a joint project between Holding Company Composite (HCC) and the Fund for Infrastructure and Educational Programs (FIEP, a member of the RUSNANO Group ), signed an investment agreement today for 134 Million Rubles ( $4.3 Million USD ). As a result of the agreement, each party - DowAksa, HCC and FIEP - will own one third of NCC's total charter capital. The NCC provides an innovation and engineering platform for start-up companies in the production of polymer composite materials for industrial sectors, such as construction, energy and automotive, which are stimulating strong global demand for high-strength, light-weight product solutions. The NCC stimulates the growth of nanotechnology in Russia by providing R&D, engineering, scale-up and pilot manufacturing support to Russian companies by state-sponsoring R&D projects, investing into startups in seed and venture phases, or renting space and equipment. From left to right - Heinz Haller , Leonid Melamed , Anatoly Chubais, Mehmet Ali Berkman Heinz Haller , Dow's Executive Vice President, Chief Commercial Officer, and President for Europe , Middle East and Africa , as well as Chairman of the DowAksa Board of Directors; Anatoly Chubais , RUSNANO CEO and Chairman of the Executive Board; Mehmet Ali Berkman , DowAksa Deputy Chairman and Aksa Chairman of the Board; and Leonid Melamed , CEO of Holding Company Composite; signed the agreement during the World Economic Forum in Davos, Switzerland . This agreement is another important milestone in the parties' cooperation, emphasizing the intentions outlined in the MOU which was signed at the 2013 World Economic Forum and in the terms of investments agreement signed at the Composites without Borders Conference in November of last year. 'The signing of the agreement marks a significant step forward in DowAksa's innovation and will help us maximize value as a leading science company, benefiting our customers in Russia and the local economy, while contributing to DowAksa's global growth,' said Heinz Haller . 'The agreement will accelerate DowAksa's efforts in growing and participating in the Russian carbon fiber composite market with a specific focus on Oil & Gas and Infrastructure applications. 'At the same time, DowAksa will provide access to global market channels, exposure to international partners, and the opportunity to provide services to an international audience.' Anatoly Chubais said: 'DowAksa is a global technology leader in the field of advanced materials. The partnership with a company of such caliber dramatically increases the value of our project. The collaboration is aimed at the development of novel innovative products, and I am convinced that the Nanotechnology Center for Composites will benefit from every possibility arising from the business and technological cooperation with DowAksa'. The Nanotechnology Center of Composites will leverage existing partner engineering assets to help develop leading positions in Russia , CIS and other countries for prominent sectors such as oil & gas, mineral extraction and offshore exploration. The first production line in the Center, equipped with a high-tech scientific laboratory and a one-of-a-kind multi-axial machine, has been launched to produce polymer composite materials used in construction, energy, and IT. The second production line is to be launched soon. The Center will showcase the latest technologies of polymer composites processing in Russia , supplying both the Russian domestic and global markets. 'It is very important to bring the strengths of DowAksa and NCC together to address the global challenges in the market of carbon fiber composites which are increasingly used in the energy, construction, automotive, and oil and gas industries. The Russian government emphasizes the importance of the composite industry by establishing NCC which also provides R&D and pilot manufacturing support to start-ups and others who are willing to make innovations in equipment related to the composite industry,' commented Mehmet Ali Berkman . 'DowAksa's engineers together with their counterparts in NCC will develop revolutionary scientific applications of composite materials which will help to increase the efficiency, productivity and value-add of them. An additional benefit coming from these applications will be reduced emissions to help protect the environment.' 'DowAksa is a recognized leader in the production of carbon fiber. We are very interested in such a powerful partner with a high potential in the production of world-class technologies. We expect that our partnership project based on the Nanotechnology Center for Composites will allow us to effectively apply DowAksa's experience and knowledge, as well as access to new global market channels to develop products made of composite materials that will be produced within NCC's project,' commented Leonid Melamed About RUSNANO RUSNANO was founded in March 2011 as an open joint stock company through reorganization of state corporation Russian Corporation of Nanotechnologies . RUSNANO's mission is to develop the Russian nanotechnology industry through co-investment in nanotechnology projects with substantial economic potential or social benefit. The Government of the Russian Federation owns 100 percent of the shares in RUSNANO. Anatoly Chubais is CEO and chairman of the Executive Board of RUSNANO. Work to establish nanotechnology infrastructure and training for nanotechnology specialists, formerly conducted by the Russian Corporation of Nanotechnologies , has been entrusted to the Fund for Infrastructure and Educational Programs , a non-commercial fund also established through reorganization of the Russian Corporation of Nanotechnologies . For more information, visit . About Holding Company Composite Holding Company Composite was founded in 2009. Our key objective is to develop a market for composites in Russia . The Holding unites companies producing high-modulus and high-strength carbon fiber and carbon fiber-based fabrics, as well as manufacturing high-quality prepregs from domestic raw materials. Our products are used in aerospace, wind energy, construction, transportation, shipbuilding, power industry, and medicine. We are setting up a highly efficient environmentally friendly production based on innovative continuous and discontinuous fiber production technologies. We are creating a market for the new generation composite materials in Russia . Our mission is to achieve leadership in production, sales and engineering of the new generation of composites on the Russian market. More information can be found at . About Nanotechnology Center of Composite (NCC) LLC 'NCC' is a joint venture of CJSC 'Holding Company 'Composite' and Fund for Infrastructure and Educational Programs 'Rusnano'. 'NCC' was established at the end of 2011 as an open engineering innovation center specialized on composites. The main activities of the Center are: R&D projects; experimental design and process development works; pilot production; tests and certification of composite materials; promotion of manufacturing companies; providing services for small innovation companies (consulting, training, leasing of equipment, investments). The Center primarily develops composite products for the construction, civil infrastructure, machinery and automotive industry. Production areas of the Center are located in Technopolis ' Moskva ' (former car factory 'Moskvich'). Center is equipped with modern multifunctional machines for production and testing FRP products (GFRP, CFRP, basalt FRP, aramid based FRP). Production assets include: filament winding line; pultrusion line; extrusion line; clean room; automate cutting machine for fabrics and prepregs; hand and spray lay-up area; injection-molding machine; painting section and mechanical treatment section; metal workshop; mechanical tests laboratory; NDT laboratory; construction building laboratory About DowAksa Aksa Akrilik Kimya Sanayii A.S. and The Dow Chemical Company affiliate Dow Europe Holdings B.V. signed a preliminary agreement in 2011 for the manufacture and worldwide marketing of carbon fiber and carbon fiber based products. Following the preliminary agreement Dow Europe Holdings B.V. , which is a 100 per cent The Dow Chemical Company (NYSE: Dow) owned company and the world's leading company in acrylic fiber industry Aksa Akrilik Kimya Sanayii A.S. (ISE: AKSA ) signed the final agreement for a joint venture of DowAksa Advanced Composites Holdings BV . Aksa and Dow have 50 per cent ownership in DowAksa Advanced Composites Holdings BV . DowAksa offers a wide range of products to the rapidly growing carbon fiber composite industry and markets its products globally by developing its product range through technical service support. The new joint venture develops solutions aiming to reduce the total cost. The company will have a much wider area of application in various industrial markets and will achieve savings in total costs across the entire product chain. DowAksa particularly emphasizes integrated carbon fiber composite solutions in the globally developing energy, transport and infrastructure areas. More information about DowAksa can be found at . For editorial information: Hande Ipek DowAksa 90 226 353 25 45 Public Relations RUSNANO +74959885677 Elina Bilyovskaya Holding Company Composite +79162379325

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Source: ENP Newswire

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