EU says France can aid nanotechnology R&D

BRUSSELS, June 4 (Reuters) - France won permission from the European Commission on Wednesday to provide 46 million euros ($71.75 million) in research and development money to a consortium trying to create a nanotechnology sector.

The consortium, called Genesis, is a grouping of 17 partners headed by the Arkema AKE.PA group.

“The European Commission has decided not to raise any objections under EC Treaty rules on state aid to the 46 million euros in financial support granted by France,” the EU competition regulator said in a statement.

Nanotechnology is a field of applied science and technology whose theme is the control of matter on the atomic and molecular scale, and the fabrication of devices or materials that use such microscopic particles.

The programme will include an outlay of 107 million euros over five years. (Reporting by David Lawsky)