NLMK Group and Gazprom Neft Technology Partnerships have signed a cooperation agreement on innovation. The two parties intend to pool their resources, competencies, and knowledge to collaborate in innovation, to seek out and support technology startups in the energy sector.

The partners plan to jointly develop an infrastructure for testing and integrating technologies by Russian developers. Participants of the Gazprom Neft INDUSTRIX* accelerator programme will gain access to expertise from leading specialists in the oil and steel industries and the opportunity to test their prototypes at NLMK Group sites.

Gazprom Neft and NLMK plan to develop solutions for prospecting, extraction, and traditional energy, along with innovations to address energy transition challenges, including technologies for CO2 capture, utilization, and storage.

Sergey Chebotarev, NLMK Group Vice President for Energy and the Environment, said:

«NLMK Group is excited to become part of an ecosystem created to support dynamic development of unique solutions with high technological, market, and cross-industry potential. By joining forces, our companies will be able to test and integrate alternative energy and decarbonization technologies more effectively»

For reference:

*INDUSTRIX is a technology development programme launched as part of the Gazprom Neft technology management system. The programme includes an accelerator for technology projects in exploration and production, launched in June 2021, an incubator for early-stage projects, a startup studio, and a corporate entrepreneurship programme. The accelerator is intended to promote technology startups and innovative solutions in the field of fossil fuel exploration and production, Industry 4.0, capital construction, and alternative energy. At the scouting stage, over 500 startups from 5 countries applied for the programme. The best teams will have a chance to be integrated in the company’s business and receive investments from leading venture funds.

About NLMK Group

NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world.

NLMK Group’s steel products are used in various industries, from construction and machine building to the manufacturing of power-generation equipment and offshore wind turbines.

NLMK operates production facilities in Russia, Europe and the United States. The Company’s steel production capacity exceeds 17 million tonnes per year.

NLMK has a highly competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. The Company has investment grade credit ratings from S&P, Moody’s, Fitch, and Expert RA.

NLMK’s ordinary shares with a 20.7% free-float are traded on the Moscow Stock Exchange (ticker "NLMK") and its global depositary shares are traded on the London Stock Exchange (ticker "NLMK:LI"). The share capital of the Company is divided into 5,993,227,240 shares with a par value of RUB1. For more details on NLMK shareholder capital, please follow the link.

For more details on NLMK Group, please visit our website.

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