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RUSNANO: Interaction with business in the field of semiconductors and equipment
Anatoly Chubais, CEO Russian Corporation of Nanotechnologies (RUSNANO)
Industry Strategy Symposium (ISS Europe) 2009
1-3 February 2009 ISS Europe 2009 - Dresden, Germany1
Russian Corporation of Nanotechnologies(RUSNANO)
Charter capital: ~ €3 bln
Mission: to provide the state policy in the field of nanotechnologiesApplication task: commercialization of nanoindustry projects and innovations
Areas of financing:fabrication of nanoproducts scientific forecasting and road maps, standardization, certification, safety in nanoindustryeducation, popularization
Founded in 2007
1-3 February 2009 Anatoly Chubais, RUSNANO2
ISS Europe 2009
Entry expertise
<1%<
Advisory Board
SupervisoryBoard
Financing decision
RUSNANO book value of assets, %
From application to Investment Project
Internal technicaland scientific expertise
Technicaland scientific Board
Internal investmentexpertise
Investment policy committee
Application
3 1-3 February 2009 Anatoly Chubais, RUSNANO
ISS Europe 2009
RUSNANO’s key services in financing
Financing up to 90% of a project’s investment program
Ownership participation — no more than 50% minus 1 share
Participation time — up to 10 years
Credit interest rate — from 13%
Financing projects at early stage and stage of expansion
4 1-3 February 2009 Anatoly Chubais, RUSNANO
ISS Europe 2009
Investments in 2008—2015(including investments from RUSNANO’s profit and off-budget funds)
480
560
680
690
680
740
820
890
Total: € 5.63 bln
5 1-3 February 2009 Anatoly Chubais, RUSNANO
ISS Europe 2009
Support for co-investors Pool of project investors – part of exit strategy
2009Pool of 10—15 co-investors for projects (total annual commitment of €1—3 bln) with priority for RUSNANO’s share redemption
RUSNANO exits investment projects for the Pool benefit
From 2010 to 2011
6 1-3 February 2009 Anatoly Chubais, RUSNANO
ISS Europe 2009
Support for co-investors
Financial support
Basic term — location in
Russia
Corporate: RUSNANO’s minority share in all projectsCredit:Long-term andcomparatively cheap moneyFriendly exit strategy:Not to maximize profit but to offset the costs
Non-financial support
Infrastructural: Technical and investment expertise, certification, foresight and road maps
Managerial:Scheduled work with the project company, investment spending supervision in the interests ofall shareholdersAdministrative:Shielding from the red tape and corruption, assistance in marketing
7 1-3 February 2009 Anatoly Chubais, RUSNANO
ISS Europe 2009
RUSNANO’s strategic goals towards 2015
17.7
21.4 3.9
4.6
PRODUCTION EXPORT
These goals are commensurate with current volumes of the entire Russian innovation industry
Key quantitative indicator:sales of russian nanoindustry production —
Key quality indicator:export of russian nanoindustry production —
20062008 (estd) 2006
2008 (estd)
€ bln € bln
6
4
2
0
30
20
10
0
€20.6 bln
€4.1 bln
of innovation goods, works and services in Russia
8 1-3 February 2009 Anatoly Chubais, RUSNANO
ISS Europe 2009
The production of semiconductorsis one of RUSNANO’s investment priorities
9 1-3 February 2009 Anatoly Chubais, RUSNANO
ISS Europe 2009
RUSNANO and semiconductor business:
~ 200
~ 3
RUSNANO
A lot for the domestic market:52% of all state financing for current nanotechnology programs in
Russia
€3 bln — a lot or a little?
€ bln250
200
150
100
50
0
Initial opportunities
Very little compared with global semiconductor market:
~ 38
Global semiconductorrevenue in 2008
Worldwide spending onsemiconductor R&D in 2008
10 1-3 February 2009 Anatoly Chubais, RUSNANO
ISS Europe 2009
RUSNANO and semiconductor business:
Restriction: relatively modest financial capacity
Additional benefits:
Positioning
Priority to highly profitable projectswith a relatively low capital-output ratio
Financial support Non-financial support
11 1-3 February 2009 Anatoly Chubais, RUSNANO
ISS Europe 2009
RUSNANO and semiconductor business:
Total: 15 applications with a sum of €1.1 bln
Co-investors
Applications in process
RUSNANO €760mln
€340mln
12 1-3 February 2009 Anatoly Chubais, RUSNANO
ISS Europe 2009
Semiconductors Investment Projects
13 1-3 February 2009 Anatoly Chubais, RUSNANO
ISS Europe 2009
LED
Products: LED chips, LED lamps and illumination systems, comparable with the world’s best analogs (efficiency 100 lm/W, lifetime 50 000 hours, wattage 10 W)
Aim: high-technology processing unit for LED lighting systems based on GaN semiconductor chips
Investment: Total — €76.7 mln, RUSNANO — €40.6 mlnEstimated revenue in 2013: €137.3 mln
Chip production and sales,millions of units
Lamps production, millions of units
For the lamps themselves | Sales
716
3548
1538
5372
0.1
0.5
2.9
3.9
1.3
2009
2010
2011
2012
2013
2009
2010
2011
2012
2013
14012010080604020
5
4
3
2
1
14 1-3 February 2009 Anatoly Chubais, RUSNANO
ISS Europe 2009
Photovoltaic systems based on 3-cascade heterostructures
Products: HCPV modules based on photovoltaic elements with heterostructures. Efficiency (37— 45%) nominal capacity (0.2, 0.5, 1, 3, 6 KW)
Aim: production facility and marketing for new generation HCPV modules with Fresnel lenses and tracking systems
Sales of surface-mounted photovoltaic modules in Russia in 2015 —~ €28 mlnInvestment: Total — €241 mln, RUSNANO — €107 mlnEstimated revenue in 2015: €291.8 mln
pilot and commercial manufacturing will be launched production volume — 120+ MW solar modules capacity per annum
Front surface of photovoltaic element
HCPV module proposed for production
15 1-3 February 2009 Anatoly Chubais, RUSNANO
ISS Europe 2009
Solar elements in gallium arsenide (GaAs)
Products: 3-cascade SE and solar panels in gallium arsenide, comparable in terms of effectiveness (27—29%) and specific power (350 W/m2) with the world’s best analogs
Aim: processing unit of multicascade heterostructural solar elements (SE) and solar panels based on A3B5 semiconductor materials
The cost of solar panels on the Russian market in 2013 ~€0.08 mln/m2
Investmant: total — €37.2 mln, RUSNANO — €14.3 mln
Estimated revenue in 2013: €34.3 mln
Production lines for heterostructural multicascade solar elements will be set up, according to the processing of germanic plastins and a section for automated assembly batteriesProduction volume — more than 304 m2 of solar batteries per year
16 1-3 February 2009 Anatoly Chubais, RUSNANO
ISS Europe 2009
Polycrystalline silicon
Application:
Aim: Large-scale polycrystalline silicon and monosilane manufacturing complex for solar energy and electronic industry
Electronic-quality polysilicon — for chip productionSolar-quality polysilicon — for photoconverter productionMonosilane — for production of thin-film photoconverters in solar energy and LCD displays
Estimated production volumes:polysilicons (of electronic and solar quality) — 3 800 tonnes per annummonosilanes with a capacity of up to 200 tonnes per annum
RUSNANO investment: €103 mlnEstimated revenue in 2014: €330 mln
17 1-3 February 2009 Anatoly Chubais, RUSNANO
ISS Europe 2009
Prospects for the international cooperation: New types of nanoscale heterostructures for LEDs, solar elements, changeover switches, converters and other elements
Nanoelectronics and nanophotonics
Processing units for nanostructured objects (quantum outlets and wires, solid and columnar structures among others) and mechanisms for effective sensors and biomarking in medicine, monitoring surroundings and the parameters of technological processesJoint production of optimized technological equipment
Production of materials for semiconductor industry (sublayers, reactionary gases etc.)
Joint infrastructural objects for safeguard production (design centers, R&D centers)Establishing of international standards for new materials and facilities in semiconductor electronicsJoint business conferences and workshops
18 1-3 February 2009 Anatoly Chubais, RUSNANO
ISS Europe 2009