Crocus NanoElectronics Crocus NanoElectronics
Russia
Central Federal District of the Russian Federation
Moscow
109316, Volgogradsky Avenue 42, bldg. 5
Crocus Nanoelectronics was founded by the Rusnano group and the French startup Crocus Technology in 2011. The company initially positioned itself as the first manufacturer of integrated circuits and electronic components on 300mm plates in Russia with 90/65nm design standards for the final production cycle. Magnetoresistive memory, integral passive components, interposers (connectors) and magnetic sensors were planned as the main products. In addition, the company was supposed to provide process development services and production services for foreign and Russian companies.
Performance indicators
The chip manufacturer, a subsidiary of Rusnano, went downhill. His equipment was sold to a mysterious buyer, to which employees also moved
For the second year in a row, Crocus Nanoelectronics completed the reporting period with a net loss of about 1.8 billion rubles, according to data in the database of the Federal Tax Service. From the explanations published there to the company's financial accounting for 2022, it follows that recently Crocus Nanoelectronics, which previously received subsidies from the federal budget in the amount of more than 1.1 billion rubles, has faced big problems. And the sanctions imposed on the company in 2022 exacerbated the situation.
So, back in 2021, "in the course of work to attract additional investments and optimize production costs," the company's management decided to sell maintenance and technological equipment to "one of the Russian companies" with the subsequent lease of this equipment, according to the explanations to the financial accounting.
However, in 2022, Crocus Nanoelectronics failed to reach agreements with the equipment buyer on cooperation. Also, sanctions were imposed on Crocus Nanoelectronics in February and March 2022, which "led to the suspension of research and production activities for an indefinite period."
 | In 2022, in connection with the termination of research and production activities, it was decided to sell the remaining part of fixed assets, - the company says in explanations to its financial accounting, published in the database of the Federal Tax Service. |  |
In September 2022, the company transferred all production and technological personnel to the equipment buyer. This was done in pursuance of the agreement reached "with another company" in 2021 in order to preserve the accumulated scientific and technical potential in state interests.
Who exactly acted as the buyer of production equipment is not indicated in the explanations to the financial accounting. The company could not clarify this point at the request of TAdviser. Earlier, there were rumors in the media and Telegram channels that at different times the Micron group or Rosatom structures could be interested in buying Crocus Nanoelectronics, but there is no actual evidence that this resulted in any transactions.
In the period from September 2021 to June 2022, Crocus Nanoelectronics carried out comprehensive maintenance of engineering and technological equipment. Since July 2022, due to the availability of proper competencies, the company has been servicing the Nitrogen Column hazardous production facility.
| | In 2022, the company's income was brought by the activities of servicing engineering and technological equipment sold in 2021 by one of the Russian companies, as well as revenue from the sale of the remaining part of the property and the sale of 300 mm plates. | |
From the documents in the database of the Federal Tax Service, it also follows that for production the company previously actively used technologies under licenses from Western companies. In March 2022, Crocus Nanoelectronics was included USA in the Entity list, which, in fact, means a ban on exports from the United States. All other interactions with companies in this list are allowed.
Also in March, Crocus Nanoelectronics was on the EU sanctions list, which provides for export restrictions for included companies, and, in fact, duplicates the previously imposed US restrictions with the condition that European companies can continue to fulfill contracts concluded until March 16, 2022. The fulfillment of obligations could be carried out until September 15, 2022.
| | Nevertheless, due to fears of falling under secondary sanctions, the company's counterparties stopped interacting with the company, including in non-export areas of activity, from February 2022, the explanations to the financial accounting say. | |
Also against the background of sanctions, difficulties arose with the return of advance payments from the French company Crocus Technology SA, which until 2020 was part of the founders of Crocus Nanoelectronics. These payments were made to Crocus Technology SA under the concluded contracts of 2016 - under the license agreement and development agreement. The court decision on the return of the paid advances was made in favor of Crocus Nanoelectronics.
| | Since personal sanctions have been imposed on the company, the debt repayment period is postponed indefinitely. The company's management, together with external lawyers, is developing a mechanism for receiving funds in court with Crocus Technology SA, - indicated in the explanations to the financial accounting. | |
At the end of 2022, Crocus Nanoelectronics also received a lawsuit from the Ministry of Industry and Trade, which demanded that the company pay a fine (penalty) of about 458.6 million rubles for non-fulfillment of obligations under a subsidy in the amount of 1.165 billion rubles. The subsidy was provided to the company in 2016-2018. under the comprehensive project "Development of basic technologies and production of priority electronic components for mobile and high-performance computing equipment on 300 mm plates."
The Ministry of Industry and Trade demanded a penalty, because the company did not meet the targets in terms of production and sales of products, as well as in terms of export of products, which were among the conditions for providing subsidies. However, it was not possible to get the requested amount. The court at the end of March 2023 ordered Crocus Nanoelectronics to pay a fine of 11.65 million rubles to the Ministry of Industry and Trade.
Crocus Nanoelectronics noted that the recovery of the penalty in full requested amount may lead to the bankruptcy of the enterprise, despite the fact that "other goals of the contract have been achieved": production has actually been created, R&D has been carried out. Such a situation can lead to damage directly to the Russian Federation and the federal budget, since these work on the creation of production will actually have to be repeated and bear the corresponding budget expenditures twice, according to the company[1].
2024
Crocus Nanoelectronics sued 167.9 million rubles from Rosatom's daughter
Moscow In September 2024, the Arbitration Court decided to recover from the subsidiary, Rosatom Kvant JV, an amount of ₽167,9 million in favor of Crocus Nanoelectronics (KNE). The reason for the trial was the outstanding remuneration for servicing equipment for the production of chips. The appeal of the KNE to the court was filed back in March 2023, after the Kvant joint venture stopped paying for service services from September 2021 to October 2022. It is reported by the publication Sheets"." More here
Bankruptcy declaration
On August 30, 2024, it became known that the Crocus Nanoelectronics microelectronic enterprise (KNE), established in 2011 by the Russian company Rusnano and the French startup Crocus Technology, declared bankruptcy. During its existence, over 1.2 billion rubles and more than €200 million were invested in the CNE.
According to the Vedomosti newspaper, until 2017, Rusnano JSC and Crocus Technologies Joint Stock Company with an Administrative Council (France) owned shares in the joint venture in the amount of 49.67% and 50.33%, respectively. Subsequently, Rusnano increased its participation in the CNE to 99.99%, and the remaining 0.01% was transferred to the CNE-IS LLC created in 2020, the founder of which was the CNE itself. At the end of 2022, the entire share of Rusnano passed into the possession of KNE-IS. The notice of bankruptcy of the enterprise is published on the Fedresurs website.
| | Limited Liability Company "Crocus Nanoelectronics" in the performance of the duty established by paragraph 4 of Art. 37 of the Federal Law of 26.10.2002 No. 127-FZ "On Insolvency," informs of its intention to apply to the arbitration court with an application for recognition... [companies] bankrupt and asks to include this notice in the Unified Federal Register of Information on the Facts of the Activities of Legal Entities, the report said. | |
It is said that the KNE has been incurring losses since 2018. According to market participants, several factors had a negative impact on the business of the enterprise. One of them is the market disinterest in MRAM (non-volatile magnetoresistive RAM) memory, which the KNE intended to promote. In addition, the company faced difficulties due to the introduction of European sanctions in the conditions of the formed geopolitical situation. Plus, the KNE was involved in a trial with the Ministry of Industry and Trade.[2]
2022
Claim for 458.4 million rubles from the Ministry of Industry and Trade
In early December 2022, it became known about the lawsuit that the Ministry of Industry and Trade filed with the Crocus Nanoelectronics chip manufacturer controlled by Rusnano. The statement refers to claims for 458.4 million rubles. According to the Ministry of Industry and Trade, the lawsuit is related to the "failure to achieve the targets for the subsidy." At the same time, the department did not specify the details of the complaint.
| | For further clarification, we recommend contacting the enterprise, - emphasized in the ministry. | |
According to Kommersant, in 2016, the Ministry of Industry and Trade allocated 1.24 billion rubles to the KNE to create electronic components for computer equipment on 300 mm plates. The company has successfully mastered such a production, as well as the production of integrated memory circuits using 90 nm and 55 nm technical processes. In addition, KNE planned to produce non-volatile memory chips (MRAM; used in microcontrollers and microcircuits), however, according to the publication, it focused on selling RFID tags (NFC chips), and MRAM production could not be launched.
In violation of the conditions for issuing subsidies, the Ministry of Industry and Trade is obliged to collect the invested funds, Yaroslav Petrichkovich, founder of the Elvis SPC center, explained to the newspaper. Maxim Koposov, director of Promobit (a manufacturer of servers and DSS), believes that KNE is able to cover debt by selling equipment. But, as Stanislav Danilov, partner of the Pen & Paper Bar Association, clarifies, in this case, as with the victory of the Ministry of Industry and Trade, the CNE may have a cash gap. According to Danilov, even in the event of the bankruptcy of the KNE, the equipment is likely to pass to other government agencies, since the production lines are unique for Russia, that is, in the event of launch, the procedure "must be perceived as a legalized forced sale."[3]
Composition of the Board of Directors
The board of directors of the company during 2022 included (according to data from explanations to the company's financial accounting for 2022):
- Andrey Alekseevich Kushnarev
- Vladimir Vladimirovich Konovalov
- Ivanov Maxim Alexandrovich
During 2022, the composition of the board of directors did not change.
Inclusion in the sanctions lists of the United Kingdom and the United States
In early May 2022, Crocus Nanoelectronics was included in the UK sanctions list, which means freezing the company's assets.
In September 2022, the US Treasury Department imposed full blocking sanctions (SDN) against Crocus Nanoelectronics.
Russian IT companies that fell under US, EU and British sanctions in 2022-2024 TAdviser map
TAdviser has drawn up a map the Russian IT of -companies that fell under sanctions in 2022-2024. and USA EU. Britain It included, among other things, the Crocus Nanoelectronics company. The article about the map can be found here.
2020: France's Crocus Technology SA withdraws from members
24.07.2020 years, Crocus Technology SA has withdrawn from the membership, according to the explanations for the financial accounting of Crocus Nanoelectronics, published in the database of the Federal Tax Service. The share of Crocus Technology SA was redistributed among other participants:
- KNE IS 251 thousand rubles.
- JSC Rusnano. 532,259 thousand rubles.
2018: Agreement with the American company Adesto Technologies for access to CBRAM technology
In 2018, Crocus Nanoelectronics entered into an agreement with the American company Adesto Technologies Corp. for the purpose of transferring CBRAM (Conductive Bridging RAM) technology, which is the intellectual property of Adesto Technologies Corp., at the power of the final stage of Crocus Nanoelectronics production. The Russian company received a license from Adesto Technologies to use this technology, according to explanations to the 2019 Crocus Nanoelectronics financial accounting, published in the database. FTS
2016
Rusnano buys from the French a stake in Crocus Nanoelectronics
In September 2016, the Federal Antimonopoly Service (FAS) approved the expansion of Rusnano's stake in the authorized capital of Crocus Nanoelectronics LLC, which produces semiconductor elements and devices, to 100%. Thus, Rusnano will be able to redeem 50.32938% of the company owned at the time of the transaction, in accordance with the Kontur.Focus base, the Crocus Technologies structure, a joint-stock company with an administrative council (France) (Crocus Technology)[4]
Crocus Nanoelectronics and Angstrom Biotechnologies Announce Biosensor Technology Collaboration
The parties agreed on cooperation in the production of medical biosensors and lab-on-chip laboratories for the express diagnosis of diseases and infections. Representatives of the companies identified further steps within the framework of cooperation, which are divided into three phases: development of technological processes at the Crocus Nanoelectronics production site, technology qualification and organization of mass production of the Angstrom Biotechnologies Inc. Biochip line. The companies expect to fulfill the planned work plan by the end of 2018.
The production line of Crocus Nanoelectronics includes the necessary technological and measuring equipment that provides acceptable technical characteristics of biosensors and laboratories-on-a-chip. In addition to medical diagnostics, companies are considering the use of biochips in the agricultural complex.
According to various estimates, the biological diagnostics market is one of the most promising segments of innovative electronics. In 2015, this market exceeded $50 billion. It is expected to reach $80 billion by 2022.
Crocus NanoElectronics and MIPT join forces in developing STT-MRAM magnetic memory technology
Crocus NanoElectronics LLC (KNE) and the Moscow Institute of Physics and Technology announced in March 2016 the start of a joint research program to develop and test the technology for the production of next-generation magnetic memory STT-MRAM. The partners will direct their efforts to the development of new materials, the design of devices, as well as the development of methods for their control and modeling. The successful implementation of the program will create conditions for the production of products using STT-MRAM technology at the CNE facilities.
Spin-Transfer Torque Magnetic Random Access Memory (STT-MRAM) technology uses "spin transfer" to rewrite memory cells. The use of this effect in conventional magnetoresistive memory allows you to reduce the amount of current required to write information to the cell, as well as use the technical process from 90 to 22 nanometers and below. Today, all the largest manufacturers of DRAM dynamic RAM have their own STT-MRAM programs - this technology is considered the main candidate for DRAM replacement in the near future.
2014: Chubais spoke about the refusal of the American company to supply equipment to Russia
Due to sanctions, the American Applied Materials refused to supply equipment for a plant for the production of MRAM memory chips in Moscow. This was announced to ITAR-TASS by the head of Rusnano Anatoly Chubais. The agency recalls that the plant is building an international consortium with the participation of Rusnano[5].
| | We are at the final stage of construction of a large enterprise "Crocus Nanoelectronics" in the technopolis "Moscow" (the territory of the former plant "Moskvich." - Vedomosti) for the production of magnetoresistive memory (MRAM). Some of the equipment was supposed to be supplied by the American Applied Materials, but refused, "Chubais said. He explained that the equipment was classified as dual-use technologies, the supply of which to Russia is prohibited under the terms of sanctions. The consortium found Applied Materials a replacement in China. "This is an example when we managed to quickly find a solution, and the start-up of the plant was not disrupted," Chubais summed up. | |
2013: Anatoly Chubais - about a joint project with the French Crocus Technology SA
In 2013, Anatoly Chubais, at that time the head of Rusnano, in an interview with Kommersant Money magazine, having met with a correspondent in California, said:
{{quote 'It seems to me an interesting story called "magnetoresistive memory." Of course, I am not the largest specialist in this area, I can be mistaken in my assessments, but when we entered the project, it was something completely exotic. We are talking about MRAM (magnetoresistive random-access memory) chips, which are fundamentally different from traditional semiconductor ones. Behind them are several basic ideas. Semiconductor memory (which today is used as operational in our computers and smartphones) needs electricity to store information, and magnetoresistive memory only to change. This affects both energy intensity and reliability. The second fundamental property is security: our company's technology allows us to provide the maximum level of protection for stored information. The world of electronics has been around this idea for about 20 years, and two years ago we believed in one of the teams, the French Crocus Technology SA, and decided to invest.
With the support of the Moscow government, we built an enterprise with a "clean room" on the territory of Moskvich and in November we will begin real production. This, if I understand correctly, will be the world's first mass production of commercial products based on the principles of magnetoresistive memory in a 90 nanometer topology. We have already formed a portfolio of orders, and in 2015 we should reach sales of 1 billion rubles. Back in 2011, Crocus Technology signed a contract for joint product development with IBM, and we plan to commercialize the results of this cooperation at a Russian factory. Already signed agreements on the sale of products with the world's largest manufacturers of chips for smart cards, SIM cards and biometric documents, there are other promising applications - high-temperature electronics, magnetic sensors, quick search systems...[6]}}
Notes
- ↑ Decision in case No. A40-268100/ 22-15-2088
- ↑ Microelectronic enterprise Rusnano intends to go bankrupt
- ↑ Such electronics are not nano
- ↑ Rusnano received FAS approval to buy out all shares in the Crocus Nanoelectronics enterprise.
- ↑ Chubais spoke about the refusal of the American company to supply equipment to Russia
- ↑ Anatoly Chubais: state intervention allows you to initiate something that would not have been initiated without it
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