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Joint U.S.-Russian Nuclear Cities Venture Launched
The first joint venture between a U.S. firm and a Russian company in a closed nuclear city was officially launched Nov. 5 by U.S. Secretary of Energy Spencer Abraham and Russian atomic energy minister Alexander Rumyantsev. The project, between Numotech, Inc., a medical devices company headquartered in California, and Spektr-Conversion, LLC, a Russian start-up, will employ former Russian scientists to manufacture medical equipment. It is expected to create more than 400 permanent local jobs. The Numotech/Spektr-Conversion joint venture culminates three years of U.S. government support under the Department of Energy’s Russian Transition Initiatives program.