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The Supervisory Council of the Russian Corporation of Nanotechnologies has approved the corporation's participation in a project that will establish a hi-tech business for production of radio frequency identification tags (RFID tags) in Russia. These tags are the latest advance, replacing traditional bar codes in the registration of goods at retail and warehousing businesses. As part of the project, production will also be organized for metallized packaging materials and equipment to handle metal coating of rolled materials. The project will be undertaken jointly with Italian company Galileo Vacuum Systems spa.
RUSNANO and Galileo Vacuum Systems will establish a joint business in Russia to handle production. That business will own production facilities in Russia, Italy, and Serbia as well as owning production technology and know how. The total cost of the project is 43 million euros of which RUSNANO will contribute 21 million euros.
RFID (radio frequency identification) technology uses radio frequency electromagnetic light to read and record information on a small element, an RFID tag. The system - the tag, a reading device, and relevant software support - is used for identification and recordkeeping of objects, for example, packaged products during warehousing, distribution, and sale in retail networks. According to analyses by large Russian retailers Auchan and X5 Retail Group, the introduction of RFID systems can reduce warehouse expenses and decrease loses from theft by 40 percent. Products manufactured under the project - RFID tags - will contribute to the development of Russia's food industry, retail merchandising, warehouse logistics, and other sectors of the economy.
The project will employ an innovative nanotechnology for selective metallization coatings that makes it possible to metallize any flexible surface, including selective metallization (by a pre-set configuration) with high output and low production costs.
"We regard the participation of Galileo in the project, and its willingness to transfer technology to the Russian company, as very important. In the future, the joint company plans to attract leading Russian research and development institutes to further modernize technology solutions. We shall implement their designs in our production," RUSNANO Senior Investment Manager Alexander Kondrashov said. RUSNANO has established a working group for study and development of the RFID market in Russia. RUSNANO CEO Anatoly Chubais chairs the group. Participants in the group include representatives from X5 Retail Group and Sitronics. The latter is one of the world's leaders in the production of RFID systems and smart cards.
Still one more product from the new business will be metallized packaging (film and paper), which makes it possible to preserve various types of products for a longer period of time. Domestic production of metallized film and paper holds considerable promise: the Russian market for metallized packaging is only beginning to develop and about 80 percent of metallized film and nearly 100 percent of metallized paper is imported from other countries.
The Russian Corporation of Nanotechnologies (RUSNANO) was established by the Federal Law in 2007. The corporation was charged with stimulating development, creating and strengthening infrastructure and realizing projects in nanotechnology and the nanoindustry. To accomplish this task, RUSNANO co-invests in nanotechnology projects that have high potential for commercial or social benefit. Early-stage investment by RUSNANO lowers the risk of its investment partners from the private sector.
RUSNANO participates in building nanotechnology infrastructure, which includes nanotechnology centers of excellence, business incubators and early stage investment funds. RUSNANO selects promising spheres for investment based on long-term forecast developed by leading Russian and world experts.
The corporation is open to international cooperation, which can be realized in many different forms, including joint ventures, interchange of data, infrastructural and educational projects. To assist the advancement of the Russian nanotechnology industry into global markets, RUSNANO organizes the annual Nanotechnology International Forum in Russia.
The corporation's budget is $5 billion. Its chief executive is Anatoly Chubais.
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Russian Corporation of Nanotechnologies.
Short name — RUSNANO.
Nametkina Street, 12A
Moscow, Russia 117420.
P.: +7 495 5424444
F.: +7 495 5424434
RUSNANO international press office:
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P.: +7 495 5424444 add.1424
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