The Federal Antimonopoly Service (FAS) has approved a request by state corporation Rusnano to purchase 49% shares in innovation project company Metaclay to manufacture nano-composite materials for $15.4m, FAS reports.

As Marchmont wrote earlier, $72 production of polymer nano-composites is to be located at Metallist plant in the town of Karachev, Bryansk region (see news of November 11, 2009).

The project initiator – Metallist – is to invest into the project its intellectual property, land, real estate, and equipment, with estimated value of $16m. Rusnano is to invest $15.4m into the project company’s authorized capital and to loan another $23m. The remaining $17.6m is to be loaned by an as-yet-unnamed financial co-investor.