Meeting with Head of RUSNANO Sergei Kulikov

President of Russia Vladimir Putin: Good afternoon.

I know that the company's financial standing has improved, and its rehabilitation is almost complete.

Which spheres do you regard as more important and interesting?

RUSNANO CEO Sergei Kulikov Kulikov SergeiChairman of the Management Board of the RUSNANO Management Company : We are grateful to you for supporting our rehabilitation. Over the past four years, we have implemented over 80 percent of both backlog and new projects and have turned over their implementation to reliable companies.

I have already mentioned before that we are focused on several spheres, where we have selected partners who have agreed to cooperate with us. In doing this, we did not proceed from what we currently have but rather from what the Government and ministries need to be done within the framework of national goals.

I would like to remind you that this work concerns five spheres, primarily low- and medium-tonnage chemistry. RUSNANO and Gazprom Neft have been assigned the technical operator of this sector. We are currently focusing on five technological chains, five chemical products. This work involves over a hundred products to be produced at five factories. We have selected a factory in the Urals. We hope to be able to purchase everything necessary there and to form a project portfolio worth 200 billion rubles.

The second major sphere where we are also working with Gazprom Neft has to do with power-plant engineering and energy services. We are working in this field because we have the necessary coating and component manufacturing technologies.

We have reoriented one of our nano centres in Ulyanovsk. We will begin with servicing and repairing gas pumping units and gas turbine engines, after which we will proceed to re-engineering and possibly the creation of our own products. Investment in the development of these facilities will amount to 25 billion rubles.

We have also chartered a course towards energy service, a tokenised business where we can use our digital assets. We hope to attract about 175 billion rubles from extra-budgetary stock market sources.

At the St Petersburg Forum [SPIEF], you issued instructions regarding environmental protection and efficient natural resource management, extraction of useful materials from waste sites and man-made mineral formations. We have worked on your instructions with the Government and the Ministry of Natural Resources. Several pilot sites have been made accessible to us. We have selected five, with three more currently under selection. We have also begun working at the facilities of critical natural resource users, including mining and processing plants such as Nornickel. As for the plants on which I previously reported regarding the processing of medical and biological and high-explosive waste into remediation agents, we have finished prototyping and are now preparing for full-scale operations.

We are specifically working on hybrid logistics. We have been creating a market for car parts where we could be useful, and, most importantly, in electrochemistry, or batteries. First, we accessed the electric taxi market - and it worked. Eight cities so far, with a total of 18 expected by the end of the year.

The Ministry of Industry and Trade eventually advised us to look at cargo transport. We also turned our attention to electric haulage. We have developed a project and engaged in talks with our Asian partners.

Of course, we realise that hybrid motor transport is primarily the market for electrochemistry. With Nornickel, for example, we have chosen to work on Na-ion batteries. It is Russia's alternative to Li-ion batteries because we believe that in our climate, freeze resistance, stability and ease of use of Na-ion batteries will be in high demand.

Of course, we remain involved in the topical security agenda, primarily with respect to critical infrastructure. More than 50 facilities are adopting our video surveillance and [signal] suppression systems. I will give you a detailed report later.

Even with this industrial agenda, we make sure to follow our founders' intent and concept, which is materials and energy. Already today, within the consortium with leading academic institutions, we are implementing the smart component because without mathematical modelling and the ability to calculate the properties of new materials, this process is very time- and resource-consuming. I will show you some examples.

Vladimir Putin: Good, thank you.

<…>