NLMK Group, an international metallurgical company, and Fort Ross Ventures, an investment company that is a partner of Sberbank, signed an agreement on cooperation in the field of innovation.
As part of the agreement, Fort Ross Ventures will provide NLMK Group with information on projects in the field of the Internet of Things, artificial intelligence technologies, information security, cloud technologies, etc., which will help the company improve production and business processes.
In turn, NLMK Group plans to conduct tests and implement the most successful innovative solutions and technologies at enterprises in Russia, the USA and Europe.
“In search of new ideas, we are developing the format of open innovations: we are building partnerships with universities, venture funds, development institutions. This allows us to get access to projects that increase the technological level of our business. We are confident that the competencies of NLMK Group will help to most effectively unlock the potential of new products and solutions, "commented Sergei Chebotarev, member of the Management Board of NLMK Group.
Viktor Orlovsky, Managing Partner of Fort Ross Ventures:
“NLMK Group is one of the most high-tech companies in the country interested in improving its processes, while our venture fund supports startups that can help in this. I am convinced that our cooperation will be beneficial both for startups, which will find a reliable partner and a base for growth, and for NLMK Group, which will receive tools to solve complex production problems. ”
About Fort Ross Ventures
Fort Ross Ventures is a management company that focuses on investments in early stage startups in the US, Israel and Russia. Target companies operate in areas such as financial technology, cloud technology, artificial intelligence, internet of things, security and marketplace. The total maximum volume of liabilities in funds managed by Fort Ross Ventures is more than $ 300 million. Investors in funds managed by Fort Ross are both Russian and foreign individuals and corporations, including Sberbank. Fort Ross Ventures actively cooperates with Sberbank as a partner in the search and professional assessment of startups, as well as in connection with the introduction of their products and services to the Russian market.
Official website www.fortross.vc.
Information about NLMK Group
NLMK Group is a vertically integrated steel company, the largest in Russia and one of the most efficient steel producers in the world.
NLMK Group's metal products are used in various industries, from construction and mechanical engineering to power equipment and offshore wind turbines.
NLMK's production assets are located in Russia, Europe and the United States. The company's steel production capacity exceeds 17 million tonnes per year.
NLMK demonstrates high cost competitiveness among global manufacturers, the company's profitability is one of the highest in the industry. The company's revenue in 2018 amounted to $ 12 billion, EBITDA - $ 3.6 billion. The Net Debt /EBITDA ratio was 0.25x. The company has investment grade credit ratings from S&P, Moody's, Fitch and RAEX (Expert RA).
NLMK's common shares, which free-float is 16%, are traded on the Moscow Stock Exchange (ticker “NLMK "), Global depository shares - on the London Stock Exchange (ticker" NLMK: LI "). The share capital of the Company is divided into 5,993,227,240 ordinary shares with a par value of 1 Russian ruble. More information about NLMK's share capital can be found here.
You can download photos and corporate videos of NLMK Group from the media bank at the link.