COTES Engineering will receive RUR 20 million to produce a black oil-free ignition system
In the beginning of November, COTES became a winner of the competition under the “Commercialization” program of the Innovation Promotion Fund. The Company will receive a grant to arrange production and implement ignition systems for coal-dust boilers at power plants without using any additional highly reactive fuels (black oil, gas, etc.). The development has been protected by several patents and is in the stage of experimental industrial operation in boiler units in Russia and Serbia. Additional financing will allow to complete tests and set up a serial supply of black oil-free ignition systems. To do this, COTES will also allocate RUR 20 million from the company’s own budget.
308 companies in 56 regions of Russia applied for participation in the 11th round of the competition under the “Commercialization” program of the Innovation Promotion Fund in 2020. The jury recommended 116 applications for financing, among which was the application of COTES Engineering.
The program is aimed at supporting companies who have completed the R&D stage and plan to create or expand the production of innovative products. The fund was organized in 1994. By now, it has been providing financial, informational, and infrastructural support for the Russian research and engineering companies for 26 years. It helps attracting off-budget money for the small innovative entrepreneurship and promotes creating new workplaces.