Support The Moscow Times!

Rusnano Ups Stake in Polus

State nanotechnology corporation Rusnano has taken up an option to buy 10 percent of U.S. laser producer IPG Photonics' local subsidiary NTO IRE-Polus, IPG Photonics said. The deal took place in June and was worth $20 million.

Rusnano bought 12.5 percent of NTO IRE-Polus in late 2010 and obtained the option to buy another 12.5 percent for $25 million over five years if certain financial indicators were achieved. Rusnano still has the option to buy another 2.5 percent for $5 million.

Massachusetts-based IPG Photonics was founded by a group of Russian scientists led by Valentin Gapontsev. It has production facilities in the United States, Germany and Russia. President Dmitry Medvedev in August 2010 appointed Gapontsev, president and board chairman of IPG, to the Skolkovo Scientific Advisory Council.

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.