RVC Infrafund invests in development of the Engineering center ElTechProgress

RVC Infrafund and a group of private investors invested in creation of the ElTechProgress Engineering center. A new center specialises in integration of the scientific developments and technologies to increase performance of the Russian enterprises of electrical engineering profile.

The strategy partner of the Engineering center is Moscow Electromechanical Plant named after Vladimir Ilyich (ZVI). The enterprise specializes in manufacturing of the general industry and special electric engines. Joint pilot project of ElTechProgress and ZVI implies integration of the operations, solutions and innovation developments in the technology process; they allow the increase of the energy performance of the produced electric engines by one-two classes.

The trend to integrate energy saving technologies and strategy of import replacing open new opportunities for both enterprises of electric engineering complex and for their technology partners, Sergey Kuzin, General Director of the ElTechProgress Engineering Center says. — Growth potential of the electric engineering equipment market where Russia is one of the key players is at the high level for the mature industry — 12% per annum".

Support of the engineering centers and companies is one of the priority operational directions of the Infrafund which portfolio already includes 8 engineering companies.

We consider technological engineering companies as one of the main instruments reducing path of the innovation technological developments to real economy. Investments in ElTechProgress is a continued development strategy for the market of specialized services demanded by the technological companies as one of the priority directions of the fund operation, Alexandr Loktev, Director of RVC Infrafund comments.