OREANDA-NEWS. The Board of Directors decided to amend the basic parameters of the project “MRAM: production of magnetoresistive RAM in Russia”. Additional financing will be provided to Crocus Technology, the company leading the project, through participation by RUSNANO in the next investment round alongside other investors.

Magnetoresistive memory (MRAM) is a universal semiconductor memory that combines the best properties of other memory types (energy independence, high read/write speeds, high number of rewrite cycles).

In October 2013 Crocus Nanoelectronics (the Russian division of Crocus Technology) launched the first phase of a plant for the production of magnetoresistive memory at the Moscow Technopolis. The plant made its first product deliveries in January 2014. The Russian business unit expects to generate more than 85% of its revenue from exports.

RUSNANO was founded as an open joint stock company in March 2011, through reorganization of state corporation Russian Corporation of Nanotechnologies. RUSNANO is instrumental in realizing government policies for nanoindustry growth, investing in financially effective high-technology projects that guarantee the development of new manufacturing within the Russian Federation. The company invests in nanotechnology companies directly and through investment funds. Its primary investment focus is in electronics, optoelectronics and telecommunications, healthcare and biotechnology, metallurgy and metalwork, energy, mechanical engineering and instrument making, construction and industrial materials, and chemicals and petrochemicals. The Government of the Russian Federation owns 100 percent of the shares in RUSNANO.

Work to establish nanotechnology infrastructure and carry out educational programs is fulfilled by RUSNANO’s Fund for Infrastructure and Educational Programs, which was also established during the reorganization of the Russian Corporation of Nanotechnologies.

Management of the investment assets of RUSNANO are carried out by a limited liability company established in December 2013, RUSNANO Asset Management. Anatoly Chubais is chairman of its Executive Board.