PAO Severstal (MICEX-RTS: CHMF; LSE: SVST), one of the largest in the world.
a vertically integrated steel and mining companies,
announces that the division of Severstal Vetures, developing a venture capital
projects in the field of new production technologies and materials, the company
made an investment in Modumetal Techology (Modumetal), the leader in
innovation for production nanolaminated alloys. Severstal Vetures
joined a pool of investors of the company, which includes BP Vetures
Fouders Fud, Steel Dyamics, CoocoPhillips, Chevro Techology Vetures and
others.
Modumetal has developed and patented a unique technology for "capacity"
metal by means of the electronic Assembly of nanolayers. This provides a significant
advantages of metal in comparison with similar products: superior strength, lower
weight, great corrosion resistance and longer service life.
Production of Modumetal, the tests proved that the use of
nanolaminated alloy extends the lifetime of metal
products, reduce the cost of their maintenance and to improve
performance for consumers in a variety of applications.
Egor Gogolev, head of corporate venture investment
(Severstal Vetures), commented:
"We are pleased to invest in Modumetal, which is one of the most
innovative companies in the global steel industry. Technology Modumetal
can be used in the production of products with high added value,
which helps reduce costs and provides
for more properties of traditional grades. For comparison, have
proved that the corrosion resistance of alloys nanolaminates 10 times higher.
compared with the existing technology. For us as a company,
it is crucial that Modumetal not only achieved broad recognition in
industry their patented and highly productive content from
nanolaminated alloys, but also ensures smooth production.
the process is able to reduce the impact of metallurgical production on the
environment.”
Andrei Laptev, Director of business development and corporate venture
projects of Severstal, said:
"Deal with Modumetal fully meets one of the strategic
priorities under the strategy of "Severstal" - "New opportunities." Expanding
our participation in the latest technological developments, we go beyond only
release traditional, but high quality steel products. We see
a great potential for nanolaminated alloys in the Russian market and
considering the possibility of starting new industries in our country, based
on the advanced technology Modumetal. This will allow us to offer customers
- brand new kind of steel product with properties superior to all other
known steel. Such investments allow us to continually strengthen
competitive advantage of Severstal and stimulate innovation in our
industry. We are pleased to support a professional team Modumetal. We
share their desire to make a deep research and development in the
practical application. Believe that such technology will not only allow our
customers not only reduce their costs but also reduce the impact on
the environment by extending the lifetime and reliability of critical
metal machinery".
As reported earlier, Severstal Vetures invested in two major
venture Fund and Chrysalix Pagaea Vetures Veture Capital, which
provided the company with access to a huge portfolio of projects and technologies, and
also the company-developer of innovative base alloys of steel, in particular
with properties equivalent to stainless steel. Severstal annual investments
Vetures about $25 million
