Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > RUSNANO, SITRONICS, and X5 Retail Group Kick Off Project for Store of the Future

Abstract:
The St. Petersburg International Economic Forum hosted the signing of the investment agreement for a project RUSNANO, SITRONICS, and X5 Retail Group will launch-the Store of the Future.

RUSNANO, SITRONICS, and X5 Retail Group Kick Off Project for Store of the Future

St Petersburg, Russia | Posted on June 20th, 2011

With RUSNANO CEO Anatoly Chubais and Sistema Chairman of the Board Vladimir Evtushenkov looking on, RUSNANO Deputy CEO Andrey Malyshev, SITRONICS President and CEO Sergey Aslanian, and X5 Retail Group CEO Andrei Gusev signed the investment agreement.

The project will create nano-enabled solutions for introducing and exploiting RFID technology in Russia's retail industry. If successful in its development work, the project will establish a company-integrator to introduce RFID technology to domestic retail trade.

Radio frequency identification is a great boon to retail: RFID tags reduce expenses throughout the distribution and sale of goods. They effectively control merchandise turnover in the supply chain. The tags, electronic certificates for consumer goods, protect the buyer from falsified items, improve product surveillance, and prevent inadvertent sale of expired products, particularly drugs and foodstuffs.

The project has a budget totaling 350 million rubles. Investment will be divided equally among the three participants over two years.

In 2013, assuming successful development of the RFID technology, the project will open Russia's first model grocery store for the future. X5 Retail Group will provide the platform. The project will also develop sector standards, which are prerequisites for changing the regulatory and legal framework for retail production and trade.

"Cost of the RFID tags is the greatest barrier to their broad use. Once RFID in retail trade begins on a large scale, the cost of the tags will decline and RFID will be extended to other economic sectors. With project success, Russia will become another large market for RFID tags, and that will give Russian microelectronics producers the opportunity to enter an arena where sales are forecast at up to 50 billion tags per year," Andrey Malyshev explained. "We expect this project to foster demand for nano-enabled products and other RUSNANO projects related to RFID technologies."

"RFID technology could help our customers avoid unnecessary hassles when shopping," said Andrei Gusev. "We are pleased to have joined the project as expert and practitioner. As such, we'll be taking a hard look over the next years at the viability and value of using RFID technology in retail supermarkets."

"The project will create an experimental site where we can apply our expertise and build competencies in systemic integration of RFID solutions," said Sergey Aslanian. "There will be interesting technical challenges to resolve; there will be new technology and know-how with promising avenues for commercialization in retail, medicine, and industry. The technology for radio frequency identification is in a period of growth that may lead to an excellent market."

####

About RUSNANO
RUSNANO was founded in 2011, resulting of the restructuring process for the Russian Nanotechnology Corporation. RUSNANO implements the government strategy for nano-industry development stepping in as a co-investor for the nanotechnology projects with significant economic or social potential. 100 percent of RUSNANO’s equity is owned by the government. The Chairman of the Board is Anatoly Chubais. The Russian Nanotechnology Corporation objectives of developing nanotechnological infrastructure and educational programmes are being fulfilled by the Foundation for Infrastructure and Educational Programmes founded as result of the above mentioned restructuring.

For more information, please click here

Copyright © RUSNANO

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Using ultrathin sheets to discover new class of wrapped shapes: UMass Amherst materials researchers describe a new regime of wrapped shapes August 31st, 2015

New material science research may advance tech tools August 31st, 2015

Efficiency of Nanodrug Containing Antibiotics in Treatment of Infectious Diseases Evaluated August 31st, 2015

Researchers use DNA 'clews' to shuttle CRISPR-Cas9 gene-editing tool into cells August 30th, 2015

Possible Futures

Sediment dwelling creatures at risk from nanoparticles in common household products August 13th, 2015

Harris & Harris Group Reports Financial Statements as of June 30, 2015, and Announces a Stock Repurchase Program August 10th, 2015

Molecular trick alters rules of attraction for non-magnetic metals August 5th, 2015

Global Carbon Nanotubes Industry 2015: Acute Market Reports August 4th, 2015

Announcements

Using ultrathin sheets to discover new class of wrapped shapes: UMass Amherst materials researchers describe a new regime of wrapped shapes August 31st, 2015

An engineered surface unsticks sticky water droplets August 31st, 2015

New material science research may advance tech tools August 31st, 2015

Efficiency of Nanodrug Containing Antibiotics in Treatment of Infectious Diseases Evaluated August 31st, 2015

Alliances/Trade associations/Partnerships/Distributorships

National Space Society Welcomes Janet Ivey As New NSS Governor: Janet Ivey of Janet's Planet is NOW IN ORBIT as a member of the Board of Governors of the National Space Society August 27th, 2015

National Space Society Welcomes Geoff Notkin As New NSS Governor August 26th, 2015

XEI Scientific appoints EM Resolutions as Distributor for the UK & Irish markets August 11th, 2015

Omni Nano and Time Warner Cable Partner to Provide Nanotechnology Education to the Boys & Girls Clubs of Los Angeles: A $10,000 Donation to Benefit Youth of Los Angeles County's Boys & Girls Clubs August 4th, 2015

Research partnerships

Nanocatalysts improve processes for the petrochemical industry August 28th, 2015

Announcing Oxford Instruments and School of Physics signing a Memorandum of Understanding August 26th, 2015

Researchers combine disciplines, computational programs to determine atomic structure August 26th, 2015

Developing Component Scale Composites Using Nanocarbons August 26th, 2015

RFID

Conformal transfer of graphene for reproducible device fabrication August 11th, 2015

GLOBALFOUNDRIES Launches Industry’s First 22nm FD-SOI Technology Platform: 22FDX offers the best combination of performance, power consumption and cost for IoT, mainstream mobile, RF connectivity, and networking July 13th, 2015

New micro-supercapacitor structure inspired by the intricate design of leaves: A team of scientists in Korea has devised a new method for making a graphene film for supercapacitors July 2nd, 2015

Designer electronics out of the printer: Optimized printing process enables custom organic electronics June 16th, 2015

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







Car Brands
Buy website traffic