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Development institute of the Russian Federation

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RUSNANO and Russian Venture Company Finance First Project with an Israeli Company

30.12.2010

RUSNANO and Russian Venture Company have begun financing a project to set up production in Russia of single- and multilayered substrates for LED assemblies and other electronics items. The project will use patented ALOX™ substrate technology developed by project applicant Micro Components Ltd.

The first investment of 180 million rubles in owner’s equity of project company MCLR Ltd. was carried out on a parity basis with co-investor venture fund in trust management of Asset Management company «Innovative solutions». Micro Components Ltd. (MCL), the project applicant, will contribute nonmaterial assets—license for use of the ALOX™ technology valued at 330 million rubles. Project plans include additional funding through company equity investment and borrowings. Overall size of the project is around one billion rubles.

ALOX™ substrates are composed of two parts — a conducting layer of aluminum or copper and a layer of dielectric material. The substrates derive their considerable competitive advance, of high thermal conductivity over traditionally produced substrates from the ALOX™ dielectric material, which has a nanoporous structure.

“This project is an excellent example of cooperation in nanotechnology with an Israeli company. The country is renowned for its innovative developments. The ALOX™ technology has already proven its worth in LED substrates. The technology has one of the best cost-to-quality ratios,” noted Vasily Kostyanovsky, chairman of the Board of Directors of MCLR Ltd. and RUSNANO senior investment manager.

“We are proud and excited to receive financing from two major industrial and financial Russian organizations, to establish a production facility for ALOX™ substrates in Russia”, Stated Dr. Uri Mirsky Founder and CEO of MCL; “We expect MCLR to become a major provider of ALOX™ nanotechnology for substrates and assemblies to the Russian and global LED industry and markets”.

“The project is a perfect example of attracting an advanced technology and highly skilled professionals to Russia. Such integration between Russia and Israel in high technology field is very important,” said Sergey Doronin, General Director at the Innovative solutions Asset management company.

Daniel Gimpel, Tamir Fishman Managing Partner said: "With this investment, the ALOX™ technology will be further developed for large scale manufacturing and enable MCL to become a major international supplier of substrate panels for the fast emerging LED market."

"We see ideal conditions for further development of the ALOX™ technology in Russia, due to the high quality of engineers available, the strong LED market presence of manufacturers, new supporting Russian Federal law on LED lighting, and excellent co-investing partner RUSNANO," he added.

About Micro Components Ltd.

Micro Components Ltd. (MCL) designs, manufactures, and markets superior packaging solutions to the advanced semiconductors packaging market. MCL specializes in developing and manufacturing substrates and boards with high thermal conductivity. Its products are based on innovative technical solutions that company specialists develop for use in the electronics industry. Focusing on the high brightness LED packaging application ALOX™ technology is currently in pilot production in Israel and in production and use by companies in Malaysia and Korea. Dr. Mirsky Contact: umirsky@mcltek.com;

About Innovative Solutions Asset Management Venture fund

Innovative Solutions Asset Management venture fund was established in 2008 in partnership with JSC “RVC” and a private investor. Innovative Solutions cooperates with Israeli advisor and partner Tamir Fishman Group. Venture fund assets comprise 2 billion rubles and are invested in high tech innovative projects.

About Tamir Fishman Group

The Tamir Fishman Group is Israel’s leading and fastest growing full-service financial group. Through our strategic partnership with RBC Capital Markets, we give clients access to global markets, benchmark research and world-class investment products. The host of domestic and international investment banking services we offer include: venture capital, corporate finance: public offerings, private placements, M&A and advisory services, underwriting of public offerings on the Tel Aviv Stock Exchange (TASE), local and global asset management: portfolio management, mutual funds management, real estate fund Eastern Europe, equities research, management and outsourcing of corporate benefits services and trustee services.

Tamir Fishman has 150 employees in Tel Aviv, with total assets under management of $3.2 billion, and has managed global corporate-finance transactions in excess of $5 billion for Israel-based clients.

About RUSNANO

RUSNANO was established in 2007 with the major strategic goal of fostering the development of innovative processes in the field of nanotechnologies by supporting their commercialization. RUSNANO aims to encourage the growth of Russian nanotech industry to the level of annual sales of 900 bln rubles by 2015. The sales of nano-enabled products by companies invested by RUSNANO are aimed at 300 bln rubles.

The corporation strives to do this by co-investing in nanotechnology projects likely to make a significant economic or social contribution. Creating the innovative environment, RUSNANO helps to develop nanotech infrastructure and supports education for industry professionals. To assist the Russian nanotech industry to strengthen its international links and advance to the global market, RUSNANO develops partnerships with the world’s leading nanotechnology centers.

The management bodies of RUSNANO are the Supervisory Council, the Executive Board, and the Chief Executive Officer. In September 2008 Anatoly Chubais was appointed CEO of the Russian Corporation of Nanotechnologies.

To learn more about RUSNANO and/or to submit your project for investment consideration please visit our website www.rusnano.com

Media contact for Russian Corporation of Nanotechnologies
10A prospect 60-letiya Oktyabrya,
Moscow, 117036, Russia
t: +7 (495) 988-5388
f: +7 (495) 988-5399
e: press@rusnano.com



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