Bulgaria Set to Open State Run Nanotechnology Center

Business » INDUSTRY | April 3, 2009, Friday // 09:21

Bulgaria's cabinet decided to set up a state-owned company dealing in nanotechnology, after discussions late Thursday in Sofia.

The venture will be called the Bulgarian Centre of Nanotechnology JSC and its capitalization will amount to EUR 25 M.

"The creation of this company is a significant step towards building a research and industrial capacity in the fields of nanotechnology, nanomaterials, nanoproduction and micromachinery, which, undoubtedly, is going to have a positive overall effect on the economy of our country," read the Bulgarian government's statement regarding the founding of the company.

It is expected that by 2015, nanotechnology will be generating revenues of USD 2,95 T worldwide. It was also announced that IBM Bulgaria will be a major partner in Bulgaria's nanotechnology projects.

Nanotechnology is the study of the control of matter on an atomic and molecular scale. Generally it deals with structures of the size 100 nanometers or smaller, and involves developing materials or devices within that size.

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Tags: nanotechnology, Bulgarian Centre of Nanotechnology JSC, Bulgarian government

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