OREANDA-NEWS. January 5, 2011. 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.