Headquarter:
Optogan Oy
Tietotie 3
02150 Espoo
Finland
tel: +7812 3263285
email: info@optogan.com
www.optogan.com
Pilot Line:
Optogan GmbH
Konrad Adenauer Allee 11
44263 Dortmund
Germany
tel: +49 231 477 30400
fax: +49 231 477 30380
OptoGaN launches operations in Russia
ESPOO, Finland, DORTMUND, Germany, ST.PETERSBURG, Russia (July 01, 2009) – OptoGaN, an emerging supplier of high brightness LEDs (Light Emitting Diodes) for the global solid state lighting market, today announced the commencement of its operation in Russia after securing an investment exceeding 600 mln Rubles from Joint Stock Company “National Investment Company” of Republic of Sakha (OAO RIC).
With this investment and finalization of new company structure, OptoGaN plans to advance the development of its unique products and to ramp up high-volume manufacturing capabilities to meet the growing market demand created by the rapid migration of Solid State Lighting solutions to a wide range of industrial and consumer applications.
The company management and current shareholders of OptoGaN welcome the involvement of OAO RIC and consider the value of its participation being well beyond pure financial interest.
Dr. Maxim Odnoblyudov, General Manager and CEO of OptoGaN Group, commented, “The main challenge we see today is to ramp up our high-volume manufacturing in Russia in a timely manner. This additional financing will help us to realize our ambitious plans to become a dominant LED manufacturer supplying the domestic lighting industry which is actually ready to rapidly move toward energy efficient solutions such as ours. Further, we see tremendous synergy working with OAO RIC and their portfolio companies in Sakha. We are entering discussions with local industries in order to set up production of lighting devices based on our LEDs and designs. This is a genuine win-win situation as this region is one of the most promising from marketing point of view due to the high electricity cost caused by its remoteness from energy sources”.
Alexander Fedotov, General Manager of OAO RIC added, “We are quite enthusiastic about this investment since we see all of the conditions to obtain a high return: a huge market, an excellent team, as well as advanced proprietary technology and products. This investment is also a serious step forward in developing an innovative economy in our Republic. We have already received serious interest from several of our enterprises about this project and potential cooperation with OptoGaN”.
Previously, OptoGan had obtained financing from ONEXIM, Russian financial group led by M. Prokhorov, and from the Russian Corporation of Nanotechnologies (RUSNANO). This latest investment from OAO RIC goes directly into the charter capital of the company, bringing the total to 1.9 billion rubles.
About Optogan
Founded in Finland in 2004 by the team of Russian scientists from world-known Ioffe Institute, St.Petersburg, Optogan develops and produces high brightness LEDs for solid state lighting applications. Its proprietary technology and product designs enable tangible improvements in performance and cost of LED-based luminaries With R&D facilities in Espoo, Helsinki, pliot manufacturing line in Dortmund, Germany, Optogan is currently ramping up high volume manufacturing in St.Petersburg, Russia. The financial investors and stakeholders of Optogan include Onexim Group, OAO RIC and Russian Corporation of Nanotechnologies.
About OAO RIC
Joint Stock Company «National Investment Company» (OAO «RIC») was formed in 2006, and is one of the largest companies in the Republic of Sakha (Yakutia) with an authorized capital of 35.2 billion rubles. The company invests in the construction of the railway line Berkakit-Tommot-Yakutsk, which is a global-scale federal program aimed at implementing the joint interests of the Russian Federation and the Republic of Sakha (Yakutia) in the creation of a single reliable system of transport communications in the North-East region. OAO «RIC», as part of its statutory activity, participates in funding programs of gasification of settlements, capital construction and upgrading of roads, electric power facilities, construction of houses and social facilities of the Sakha Republic (Yakutia).
About Onexim
A private investment fund founded by Mikhail Prokhorov in May 2007, ONEXIM invests in the mining and metals sectors, power engineering sectors including hydrogen power, and nanotechnologies. In addition it has diversified investments in financial services, mass media, and real estate.
About Russian Corporation of Nanotechnologies
RUSNANO was founded by Federal Law in July 19, 2007 for “implementation of the government policy in the sphere of nanotechnologies, innovation infrastructure development in the sphere of nanotechnologies, implementation of projects on creating prospective nanotechnologies and nanoindustry.” The Corporation acts as co-investor in nanotechnology projects with significant economic or social potential. Its involvement at early stages reduces risk to private investor partners. The Corporation participates in establishing nanotechnological infrastructure objects such as shared use centers, business incubators, and early-stage investment funds. RUSNANO Director General is Anatoly Chubais.
 | Optogan Oy Tietotie 3, 02150 Espoo Finland | | tel: +7812 3263285 | | info@optogan.com | | www.optogan.com |
