DowAksa Advanced Composites Holdings B.V. and the Nanotechnology Center of Composites (NCC), a joint project between Holding Company Composite (HCC) and the Fund for Infrastructure and Educational Programs (FIEP, a member of the RUSNANO Group), signed an investment agreement for 134 Million Rubles ($4.3 Million USD). As a result of the agreement, each party – DowAksa, HCC and FIEP – will own one third of NCC’s total charter capital.

The NCC provides an innovation and engineering platform for start-up companies in the production of polymer composite materials for industrial sectors, such as construction, energy and automotive, which are stimulating strong global demand for high-strength, light-weight product solutions.

The NCC stimulates the growth of nanotechnology in Russia by providing R&D, engineering, scale-up and pilot manufacturing support to Russian companies by state-sponsoring R&D projects, investing into startups in seed and venture phases, or renting space and equipment.

Heinz Haller, Dow's Executive Vice President, Chief Commercial Officer, and President for Europe, Middle East and Africa, as well as Chairman of the DowAksa Board of Directors; Anatoly Chubais, RUSNANO CEO and Chairman of the Executive Board; Mehmet Ali Berkman, DowAksa Deputy Chairman and Aksa Chairman of the Board; and Leonid Melamed, CEO of Holding Company Composite; signed the agreement during the World Economic Forum in Davos, Switzerland.

This agreement is another important milestone in the parties' cooperation, emphasizing the intentions outlined in the MOU which was signed at the 2013 World Economic Forum and in the terms of investments agreement signed at the Composites without Borders Conference in November of last year.

“The signing of the agreement marks a significant step forward in DowAksa’s innovation and will help us maximize value as a leading science company, benefiting our customers in Russia and the local economy, while contributing to DowAksa’s global growth,” said Heinz Haller.

“The agreement will accelerate DowAksa’s efforts in growing and participating in the Russian carbon fiber composite market with a specific focus on Oil & Gas and Infrastructure applications. “At the same time, DowAksa will provide access to global market channels, exposure to international partners, and the opportunity to provide services to an international audience.”