Alcoa and RUSNANO have signed a memorandum of understanding to explore ways of using nanotechnology in the aluminum industry, specifically for offshore oil and gas drilling, high-efficiency power transmission, next-generation lighting, energy-efficient buildings and transportation systems and green packaging.

"This partnership with RUSNANO offers great promise for Alcoa and the entire aluminum industry," says Alcoa president and CEO Klaus Kleinfeld. "Building on our existing investment and presence in Russia, we are proud to be a partner of the leading Russian nanotechnology institution."

"I am confident that the Memorandum of Understanding that we signed with Alcoa, one of the global leaders in the production of aluminum and aluminum products, is a first step on the road to a very beneficial joint cooperation that will heavily rely on both parties’ expansive knowledge and expertise," says RUSNANO CEO Anatoly Chubais. "With Alcoa, we are looking forward to the implementation of the concrete projects of bringing nanotechnologies' advantage for the creation of the new generation aluminum products for the Russian and export markets."

The press release is here.