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T-Platforms receives state-backed expansion financing

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T-Platforms, a Moscow-based provider of HPC systems, software, and services, has announced that the Russian state-owned Bank for Development and Foreign Economic Affairs (Vnesheconombank) will acquire an equity stake in the company. The T-Platforms investment project was approved at the regular supervisory board session of the bank under the chairmanship of Prime Minister of the Russian Federation, Vladimir Putin. The investment is targeted at expanding T-Platforms’ supercomputing research and development efforts, along with providing support for the company’s expansion into the global HPC market.

As part of an equity position arrangement in T-Platforms, Vneshekonombank will provide financing for further expansion of the company’s network of design centres currently located in Russia, Germany, and Taiwan, aimed at developing innovative components and architecture for future T-Platforms HPC solutions. Funds will also be provided to strengthen T-Platforms’ presence in the global HPC market, supporting sales and production operations of newly established local offices.

According to the company, the project will fuel innovation in both the electronics industry and the strategic computing technologies sector, falling neatly in line with Vneshekonombank’s investment policy priorities. While supercomputers are considered a crucial element of a modern economic infrastructure, this project also encourages innovation and improved competitiveness of many homeland industries the bank aims to develop – from aerospace and shipbuilding to energy and steel production. Funding to support T-Platforms’ expansion represents a unique case within Russia’s export landscape, diversifying it from traditional natural resources by focusing on high-end technology.

Representatives of Vneshekonombank will now join the Board of Directors and the Auditing Committee of the Group.

'While establishing a closer bond to the global HPC user and vendor community this year, we have received validation that T-Platforms has the technology potential to become one of the global leaders in supercomputing,' said Vsevolod Opanasenko, CEO of T-Platforms. 'With the funding support we’ll receive from the state bank, our ambition can be brought to reality. Joining forces with Vneshekonombank gives us a unique opportunity to increase our R&D investment and concentrate on future technology innovation which will shape the entire industry 3 to 5 years ahead.'