Alcoa and RUSNANO signed a Memorandum of Understanding to explore opportunities for applying nanotechnology in the aluminum industry. The two companies have identified several promising technical and commercial fields to begin pursuing together. The fields include: offshore oil and gas drilling systems, high-efficiency power transmission, next-generation lighting, energy-efficient buildings and transportation systems, and green packaging.

Alcoa has been present in Russia since 1993. In 2005, the company purchased two aluminum-fabricating facilities and invested more than $750 million in upgrading them. Alcoa believes this partnership will help contribute to an increase in the consumption of aluminum products in Russia. RUSNANO, the Russian Corporation of Nanotechnologies, was established in 2007.