Total investment in the project will approximately amount 11.8 bln roubles. RUSNANO and the European Bank of Reconstruction and Development will invest in common stock 2.8 bln roubles and 1.4 bln roubles respectively. Under the terms of the agreement the rest of the money coming from other types of financing including loans and preference shares, 3.2 bln roubles of which will be committed by RUSNANO.
One of the main products of the new enterprise will be energy-efficient glass, which gets its unique properties from a special multi-layer coating. Each layer has a thickness between 5 and 500 nanometres. As a result, each layer enables the glass to keep more heat indoors. In many countries 80–100% of all installed windows are made using energy-efficient glass.
The use of energy saving glass in residential and industrial areas can reduce heat loss in times of cold weather by up to 70%, and when the weather is hot the glass protects buildings from overheating in the sun. The use of double-glazed energy-efficient glass can significantly reduce costs related to air conditioning and central heating.
As part of the project, a new production line will be built next to the existing Pilkington plant in Russia located in Ramenskoe in the vicinity of Moscow. High technology coating facilities will also be installed at the same site.
The new glass production plant will produce 240 thousand tons of premium quality glass per annum—of which approximately 100 thousand tons will be further processed into high tech energy efficient coated glass for sale into the Russian building products market.
It should be noted that the cost of mass producing energy-efficient glass windows is only slightly higher than that of the windows made out of conventional glass.
The NSG Group is a global leader in the manufacture of energy-saving glass, with operations in 29 countries worldwide. STiS Group is the largest producer of insulated glass units in the Russian market. The project company will expand its production capacity and also install advanced coating equipment.
"The production of energy-efficient glass in Russia will make it more affordable to the widest possible range of consumers. Through practical steps such as these we can work towards launching a nationwide energy saving program. I don't think anyone can argue the necessity of this", said Dmitry Lisenkov, Managing Director of RUSNANO.
"Today's agreement demonstrates the common goal that the EBRD and RUSNANO have in supporting innovation in Russia by sharing investment risk in the development of new products and technologies," said Natalya Khanjenkova, the EBRD's Managing Director for Russia.
Mark Lyons, Chief Financial Officer, NSG Group said "We are delighted to be participating in this important initiative, which begins the next phase of the development of our business in Russia. The new company brings together our assets and expertise in glass manufacture and coating with the strengths of local partners. Working with STiS, Rusnano and EBRD, we will be developing and promoting the expansion of energy-saving glass capacity and advanced capability in this important and energy-conscious market".
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.