RUSNANO, ONEXIM and the Ural Optical and Mechanical Plant (UOMP) establish the joint company to manufacture the new generation lighting products which based on the gallium nitride（GaN）semiconductor chips. The successful establishment of a new enterprise will allow to return one of the most promising projects developed by the Russian scientists back to Russia.

The final product will be LED chips, LED lamps and lighting systems, the brightness of which is comparable with the best world analogues. The record low amount of defects in semiconductor layers allows the devices to work without losing effectiveness with high-density currents, enabling the good brightness to price ratio for LED chips.

As we know, LED lighting products market is actively developing and drives out other light sources. The world market of LED lighting products is growing at 37% per year as the growth of the world lighting engineering market reaches 5% per year. The Russian market of lighting products comprised more than 50 billion rubles in 2007 and is growing annually by 13% on average. Nowadays LED lamps occupy already at least 3.5% of the Russian lighting systems market.

It’s disclosed the total value of the Corporation’s investment into the project will reach 1 776 million rubles, 323 million rubles of which will be given in the form of a contribution to the chartered capital and 1 453 million rubles in the form of a loan. RUSNANO’s equity share in the joint company will be equal to 17%, UOMP’s share will be 33% - 1 share, ONEXIM Group’s share will be 50% + 1 share.

It is expected that the annual revenue will reach about 6 000 million rubles by 2013. Industrial production of heterostructures (multilayer structures consisting of semiconductors with different zone structure and varying lattice parameters) will be situated in Saint-Petersburg within the special economic zone. The LED chips, lamps and lighting products assembly will be located in Yekaterinburg, on the basis of the lighting products subdivision of the Ural Optical and Mechanical Plant.

The project received a positive resolution from scientific & technical, patent, and production-technological expertise arranged by RUSNANO. The attractiveness of the project from the investment point of view was also confirmed by experts. Development of LED lighting products is a very promising direction for investment due to high rates of market growth because of increasing consumer demand. The lighting products using the LEDs will allow to reduce significantly the consumption of electric power and increase the simplicity of lighting systems’ operation. It will also free up quite an amount of power capacity.