Krastsvetmet acquires ARDM JSC

Krastsvetmet acquired the share of Bioprocess Capital Ventures Fund created with participation of RVC capital in “Axion – Rare and Noble Metals” (ARDM) company.

ARDM was established in 2010 and is engaged in the development and production of new ion-exchange materials (resins, sorbents) for the selective recovery of rare, rare-earth and precious metals, such as uranium, indium, thorium, scandium, cesium, lithium, palladium and others. Due to their high selectivity, the materials created by ARDM are widely used in many fields, in particular, in nuclear technologies.

Commenting on the deal, Vladimir Tezov, General Director of Bioprocess Capital Partners Management Company, said that strategic Russian enterprises and foreign companies showed interest in acquiring Axion. “ARDM is a vivid example of the intellectual potential of young scientists in Russia: PhD thesis of Dmitry Kondrutsky was the foundation on which the company was built. We, as Fund, believed that the project of the young scientist is very promising and supported him proving our funding. We are very glad to have signed the deal with Krastsvetmet and wish prosperity to the new partnership,” he said.

“This deal is extremely important for us,” says Dmitry Kondrutsky, General Director of “Axion – Rare and Noble Metals”. “Looking back, I want to thank Bioprocess Fund for believing in us. Over the years, ARDM team put the theoretical concept into practice, created a line of products demanded by the market and ensured economic growth of the company. We need more serious investments to start large-scale production of resins and sorbents. This deal was the logical end of the formation stage. And we hope that our new founders will have enough opportunities and expertise to help us reach the next level: from a small enterprise to a big business. The business, which, being associated with production of rare and rare-earth metals, is going to become important for the development of the national economy. We have a lot of work ahead. Given the new opportunities that opened up after the deal – it is inspiring.”

“The acquisition of ARDM by Krastsvetmet is the next step in strengthening relations between our companies after several years of collaboration in developing projects on sorption of precious metals. But we think that ARDM main potential lies in the area of rare and rare-earth metals. For Krastsvetmet this is a move towards diversification and entrance to new markets that are not related to precious metals,” said Vladimir Osipenko, Deputy Director General of Krastsvetmet, Head of the Industrial Appliances Division. 

For information: 

Bioprocess Capital Ventures is a venture fund established with the participation of RVC capital and managed by Bioprocess Capital Partners Management Company, which invests only in innovative projects to create new products and technologies in the field of biotechnology, fine chemistry and telecommunications. The priority areas for investment are selected based on the expertise of Bioprocess Capital Partners Management Company team that has an extensive experience in these areas.

RVC JSC is a state fund of funds and a development institution in the Russian venture capital market. The main objectives of RVC activities are stimulating the creation of Russia’s own venture investment industry and fulfilling the functions of the Project Office of the National Technological Initiative (NTI). The authorized capital of RVC JSC totals over 30 billion rubles. RVC capital is wholly-owned by the Russian Federation represented by the Federal Agency for Management of State Property of the Russian Federation (Federal Agency for State Property Management). The total number of funds established by RVC JSC reached 29, their overall value is RUB 64.4 bln. The share of RVC JSC is RUB 37.3 bln. The number of innovative companies approved for investment by the funds of RVC JSC is 180. The total amount of funds approved for financing is RUB 15.9 bln. www.rvc.ru