RMT RAISES $20 MILLION IN CORPORATE FUNDING

Moscow, Russia (December 09th, 2010) - RMT Ltd - the manufacturer of miniature thermoelectric coolers - raises more than $20 million in corporate funding. The half of funding is invested in cash by Russian Corporation of Nanotechnologies (RUSNANO) and S-Group Capital Management, the balance – by bank credit lines. The funding will be used to expand RMT presence in thermoelectric business and implement automated mass production of miniature thermoelectric coolers, cooling systems, and related devices.

Company RMT Ltd is in top ten world manufacturers of thermoelectric coolers. The main sales activity is in USA, Canada, Europe, Russia, Asia region and Japan. With the successful investments raising RMT Ltd to expand it’s manufacturing capacity, implement advanced automated technologies and increase it’s world market share 4-5 times.

Dr. Gennady Gromov, the founder and CEO of RMT, said: “We’re glad to start the collaboration with strong and experienced investors. With a financing now fully in place, the company is well positioned for manufacturing expending and applying of new technologies. With these investments we’re about to create the most experienced and high-tech manufacturing of miniature thermoelectric coolers in the world”.

Commenting on the investment, RUSNANO managing director Dmitry Lisenkov said: “Clearly, further improvements in the technology for powerful semiconductor devices depends on advances in thermoelectrics. Investments in that sphere are particularly pressing for RUSNANO because a sizeable share of our portfolio today is in opto- and nanoelectronic projects.”

Alexander Yakushev, director of S-Group Capital Management to which S-Group Ventures belongs, remarked: “This transaction gives us the opportunity to play a strategic role in the growth of a Russian high-tech company, a world leader in its segment with a significant market share. We look at the synergy this project has with other portfolio companies that we hold.”

RMT Ltd has more than 16 years of experience on thermoelectric coolers market. The main focus is on thermoelectric cooling solutions for temperature stabilization of telecom lasers, cooled TOSA, TE cooling for IR and X-Ray detectors, CCD matrixes, FPA and thermal imagers calibration devices. Consulting and assistance with estimations and optimal thermoelectric coolers selecting are provided. Company is ISO 9001:2008 certified.
Additional information is available on company web: www.rmtltd.ru

RMT Ltd
Leninskij prospekt, 53
119991 Moscow, Russia

This release was published on openPR.