Gazprombank said on Friday that it has entered into a cooperative agreement with the Russian Quantum Center (RQC) to develop data-transmission technology and other projects. 

"Investments (of) Gazprombank reflect its confidence in the effectiveness of the...emerging technology center," Dmitry Zauers, deputy chairman of Gazprombank, said. "Many of the developments could form the basis of competitive (and, in some cases, unique to Russia and even the world) products in the fast-growing market of advanced technologies."

Technologies that are being pursued and researched at the center include ultrasensitive photo detectors for use in nondestructive diagnostic testing; communication lines; magnetic sensors to be used in magnetic cardiography and encephalograqphy, and spin diodes to be utilized in microwave radiation-detection devices which allow for smaller sizes and increased sensitivity. 

The Russian Quantum Center was formed in 2010 and focuses on quantum technologies. 

"The fact that such corporations as Gazprombank are investing in cutting-edge science and the development of breakthrough technologies is important not only for us," RQC CEO Ruslan Yunusov said. "This means that the promotion of technological development is already recognized by big business as being in its self-interest."