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October 01, 2010
Investment to drive supercomputing R&D and worldwide expansion
MOSCOW, Oct. 1 -- T-Platforms Group, a leading provider of HPC systems, software, services and solutions, today announced that State corporation "Bank for Development and Foreign Economic Affairs" (VNESHEKONOMBANK) will acquire an equity position in T-Platforms Group. The T-Platforms investment project was approved at the regular supervisory board session of the bank on September 30, under the chairmanship of Prime Minister of the Russian Federation, Vladimir Putin. The investment is targeted at expanding T-Platforms' supercomputing research and development efforts, along with providing support for the company's expansion into the global HPC market.
As part of an equity position arrangement in T-Platforms, Vneshekonombank will provide financing for further expansion of the company's network of design centers currently located in Russia, Germany, and Taiwan, aimed at developing innovative components and architecture for future T-Platforms HPC solutions. Funds will also be provided to strengthen T-Platforms' presence in the global HPC market, supporting sales and production operations of newly established local offices.
This project fuels innovation in both the electronics industry and the strategic computing technologies sector, falling neatly in line with Vneshekonombank's investment policy priorities. While supercomputers are considered a crucial element of a modern economic infrastructure, this project also encourages innovation and improved competitiveness of many homeland industries the bank aims to develop -- from aerospace and shipbuilding to energy and steel production. Funding to support T-Platforms' expansion represents a unique case within Russia's export landscape, diversifying it from traditional natural resources by focusing on high-end technology.
Collaboration with a major state bank will create strong opportunities for T-Platforms to further its technological leadership and ensure prolonged competitiveness of its solutions on the global scale. Representatives of Vneshekonombank will now join the Board of Directors and the Auditing Committee of the Group.
"While establishing a closer bond to the global HPC user and vendor community this year, we have received validation that T-Platforms has the technology potential to become one of the global leaders in supercomputing," said Vsevolod Opanasenko, CEO of T-Platforms. "With the funding support we'll receive from the state bank, our ambition can be brought to reality. Joining forces with Vneshekonombank gives us a unique opportunity to increase our R&D investment and concentrate on future technology innovation which will shape the entire industry 3 to 5 years ahead".
State corporation "Bank for Development and Foreign Economic Affairs" (VNESHEKONOMBANK) has operated under the Federal Law #82-FL "About bank for development", since May 17, 2007. The bank's mission is to foster modernization and diversification of Russia's economy and to increase the country's competitiveness. To address this, the bank's investment policy priorities include supporting projects aimed at eliminating infrastructure barriers to economic growth, developing innovations, improving the use of natural resources, protecting the environment, developing small and medium businesses, and supporting the export of agricultural and industrial products and services. The strategic areas of investment include such industries as aerospace, shipbuilding, electronics, atomic energy, automotive energy, manufacturing, agriculture, strategic computing technologies and software, information systems, medical equipment, and drug design. As of December 2009, the bank's assets were listed at 1.9 trillion rubles (approximately 63.5 billion dollars).
Established in 2002, T-Platforms Group has completed more than 200 supercomputer installations and is rapidly emerging as one of the leading global HPC companies, providing comprehensive supercomputing systems, software and services, with customer installations consistently included on the TOP500 worldwide list of the most powerful supercomputers.
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