Rusnano closes 13 projects with a budget of 17.9 billion rubles
Not grown up to nano
Among the closed projects are the production of medical coatings for wounds and burns "Locus" with nanoscale particles; production of nanopreparations for the diagnosis and treatment of malignant neoplasms; expansion and modernization of the production of double-leaf mechanical artificial heart valves and the development, production and promotion of innovative tricuspid mechanical artificial heart valve; production of associated petroleum gas desulfurization plants based on nanostructured catalysts.
The reason for the closure is the non—fulfillment or refusal of co-investors or project applicants from their obligations, including due to the deterioration of their financial situation or disagreement with the mandatory requirements of Rusnano, the company explains. At the same time, Rusnano emphasizes that more than half of the projects being closed for implementation "will develop independently, at the expense of other sources of financing."
What Rusnano refused:• creation of large-scale production of equipment for deposition of modifying coatings of nanometer thickness on materials and products using magnetron discharge plasma and charged particle beams on the basis of existing small-scale production;
• creation of industrial production of toners, photoreceptors and cartridges for laser printers, copying and multiplying equipment and printing using functional nanoscale additives and photo conductors in nanodisperse form on the basis of existing production of electrophotographic materials;
• creation of production of microsystem engineering products based on the principles of acoustonanoelectronics and chemisorption nanoelectronics;
• organization of industrial production of infrared linear and matrix photodetector devices based on nanostructured narrow-band semiconductor materials for new generation optoelectronic equipment;
• creation in the territory of the Russian Federation of a new production of ABS plastics using nanoparticles with a capacity of 80,000 tons per year;
• organization of production of associated petroleum gas desulfurization plants based on nanostructured catalysts;
• creation of production of nanostructured superconductors and products based on them;
• production of nanocrystalline and ultrafine rhenium powders and simultaneously extracted metals from technogenic raw materials;
• production of medical coatings for wounds and burns "Locus" with nanoscale particles;
• creation of a nanotechnology certification center on the basis of a biomedical research center for the organization and conduct of preclinical research;
• production of nanopreparations for the diagnosis and treatment of malignant neoplasms;
• expansion and modernization of the production of double-leaf mechanical artificial heart valves and development, production and market promotion of innovative three-leaf mechanical artificial heart valve;
• organization of the production of nano-drugs based on the phospholipid transport system.
Rusnano declined to name with whom the contracts are being terminated: "We cannot provide information about them, since it affects the commercial interests of the applicants." The company itself will not incur any losses, since "the projects were closed even before the investment by Rusnano, and managers will be required to return the bonuses received for the approval of these projects by the company's management bodies."
In total, as of March 13, 2012, Rusnano approved 145 projects with a total budget of 568.5 billion rubles, including co-financing from the company of 239.8 billion rubles. Closed projects accounted for 3.1% of the total budget. To date, Rusnano has actually invested 102 billion rubles in projects.
According to the strategy of Rusnano, the revenue of its design companies from the sale of nanoproducts in 2015 will amount to 300 billion rubles, and the total volume of the nanoindustry in Russia — 900 billion rubles. By 2015, Rusnano also plans to turn into an investment fund with a controlling stake in the state.
"Yesterday we started discussing the new strategy of Rusnano until 2015, which was prepared by the management, and this is not just theoretical fabrications, but a long—suffering story," Oleg Kiselyov, deputy chairman of the Board of Rusnano, said on Wednesday.
This is not the first time Rusnano has closed approved projects. So, in September 2011, six projects with a total budget of about 8.7 billion rubles were closed due to non-fulfillment of obligations by co-investors. And, although investments in closed projects have not yet begun and the managers who approved the projects returned the bonuses received, Rusnano still suffered losses in connection with the preparation of projects. "In the future, there will be situations when Rusnano will have to withdraw from those projects in which funds have already been invested — this is the specifics of the venture industry," Anatoly Chubais, the head of Ronano, warned at the time. Already at the beginning of 2012, he clarified that about two dozen projects could be closed during the year, which is due to plans to enter a private placement of 10% of the capital. "We are not going to finance inefficient projects," Chubais stressed.
Rusnano's actions are logical, experts agree. "In fact, Rusnano is a state venture fund engaged in the support and development of projects in the field of nanotechnology and innovation infrastructure. In such areas, especially at the early stages of project development, uncertainty about the future fate of the project is always quite high," says Ariel Cherny, analyst at Allianz ROSNO Asset Management.
"Rusnano has one of the most stringent conditions for co-financing projects, and if the partner company of Rusnano does not comply with them, then the contract with it is terminated," adds Dmitry Baranov, a leading expert of the Finam Management Management Company. In 2010, Rusnano incorporated new requirements for investment projects involving the corporation. The company explains that the attraction of loans to finance projects has predetermined a sharp increase in requirements for their quality.
Given the particular importance of the projects being closed, Rusnano should be softer, says Nikita Ryazanov, an expert at Solid IFC. "The companies were rejected not because of the insolvency and futility of ideas, but on purely economic grounds," says Ryazanov. According to the expert, the deterioration of the applicant's financial situation, on the contrary, could serve as a basis for even more support, especially in such projects that can help, for example, in the diagnosis and treatment of cancer.
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15.03.2012