Despite certain problems, state-owned nanotechnological company RUSNANO will continue financing a project to produce ultra strong springs in NPC Springs, based in Izhevsk, Republic of Udmurtia, news agency RIA Novosti reports.

“Difficulties around the project are caused by the fact that the key shareholder in the project – Izhmash – is undergoing a bankruptcy procedure and can’t support the project. As far as we know, Izhmash is still interested in the project, and we expect it to remain our partner in NPC-Springs. RUSNANO has not stopped financing the ultra strong springs production project,” said a representative of RUSNANO.

The complex to produce ultra strong springs NPC Springs was founded in 2010. The investors into the project are RUSNANO, Izhmash, and financial corporation Uralsib. Total budget of the project is $35m, including $26m RUSNANO’s contribution. The plan was to launch production in three stages: small series, series, and mass production. June 2011 saw the start of the second stage, implying series production with annual capacity of 6,000 tons of processed metal (or 2 million springs).

Production of ultra strong springs is based on technology of high-temperature thermomechanical metal processing, that allows to create nanosized structures. The technology significantly improves strength characteristics of produced springs that can then be used in production of automobile and railroad transport, energy systems and agricultural machinery.