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The project is called, 'A New Generation of Martensitic Steel for Turbine Blades and Rotors in Thermal Power Plants', and was unveiled at the Development Corporation's annual trade fair, held at the Skolkovo Innovation Business Park. 117 applications were made from the CIS, Germany, and Sweden, for the 80 stands at the exhibition. 6 of our 11 projects were accepted. The remaining projects will take place in 'StartUp' trade fairs at later dates. From the 6, 4 were given a place in the final, but it was Mr Mishnev's project, the latest success in his nine year career with us, that impressed the judges the most. The prize was given out by Alexander Okunev, head of the Foundation's Regional Development Department, and includes mentoring and support from the specialists at the Development Corporation.

Martensitic steel has unique properties, and when used in the production of turbines, it can increase the efficiency of a power plant by a factor of between 35% and 44%. It also maintains integrity at temperatures exceeding 545°C. The use of martensitic steel can significantly cut the amount of fossil fuels burned in electricity production, reduce maintenance costs, and produce fewer emissions. In short, this steel will create cleaner, cheaper and more efficient energy.