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Rosnano head Anatoly Chubais and Russian deputy premier Sergey Ivanov have announced the creation of the country’s first company applying nanotechnology commercially.
The company, majority owned by Rosnano, will produce nano-coated carbide tools used in machine building industries particularly for aircraft engines.
Output for the company is expected to reach full capacity in 2014 when 150 thousand units of nano-coated cutting tools will be produced as well as 250 resharpening units. Sales are expected to reach 1.275 billion Roubles. The Yaroslavl government said that the general investment amounted to 1 billion Roubles.
The strength and flexibility of carbon nanotubes makes them of potential use in controlling other nanoscale structures, which suggests they will have an important role in nanotechnology engineering. The highest tensile strength of an individual multi-walled carbon nanotube has been tested to be is 63 GPa. Carbon nanotubes were found in Damascus steel from the 17th century, possibly helping to account for the legendary strength of the swords made of it.
As of August 21, 2008, the Project on Emerging Nanotechnologies estimates that over 800 manufacturer-identified nanotech products are publicly available, with new ones hitting the market at a pace of 3–4 per week.