Micro-arc oxidation (MAO) is a relatively new type of surface treatment and hardening of metal materials, close to traditional anodizing, and accordingly related to electrochemical processes.
Micro-arc oxidation creates wear-resistant, corrosion-resistant, heat-resistant, electrical insulating and decorative coatings.
In 2008-2009, two initiators (from Moscow and Tomsk) applied to Rusnano for financing the organization of the production of equipment for applying MAO coating.
Rusnano chose Industrial Information Agency to conduct research on the MDO market for a project initiated by the Moscow team.
After a study by the Industrial Information Agency, even the optimistic forecast scenario showed an insignificant market volume for equipment and coatings themselves. After carefully studying the research materials of the Agency of Industrial Information, Rusnano refused to finance the project of the Moscow company.
At the same time, a similar project of a Tomsk company was financed with funds from Rusnano (apparently thanks to the optimistic forecast of another research company): Manel CJSC was created on April 15, 2010, and the first products were released in 2011.
The financial results of the MANEL company show the inappropriateness of investments:
| Year | Revenue, million rubles | Profit, million rubles |
| 2010 | 1,4 | - 10.2 |
| 2011 | 8.0 | - 23.1 |
| 2012 | 5.9 | - 25.9 |
| 2013 | 8.4 | - 20.3 |
| 2014 | 9.9 | - 11.7 |
| 2015 | 29.1 | + 0.8 |
If Rusnano, when making a decision on financing the Tomsk project, had taken into account the report of the Industrial Information Agency on the MDO market, then multimillion-dollar losses would have been avoided.
