REFERENCE · TERMS

Glossary

A short reference. Most of these terms appear in the main investigation. None of them are meant to flatter — they are meant to be accurate.

Crowdinvesting
FINANCE
A capital-acquisition model in which ordinary retail investors purchase fractional ownership stakes in specific projects or companies, typically through a digital platform, in relatively small individual amounts. Distinct from crowdfunding (rewards-based, as on Kickstarter) and from equity crowdfunding in the US Reg CF sense, which is heavily regulated by the SEC. In Russia, the model operates under domestic regulatory frameworks and, in Solar Group's case, via a Vanuatu holding platform that funnels capital into Russian project companies.
Multi-level referral (affiliate) distribution
FINANCE
A capital-acquisition method in which a network of regional representatives is paid commission on capital they bring to the platform, often with multiple levels of compensation (representatives of representatives). In Solar Group's case, roughly $50 million has been paid out in affiliate commissions over 8.5 years. Commissions are a compensation expense to the platform — not investor returns. Critics frequently conflate the two.
Asynchronous motor (induction motor)
ENGINEERING
The most common type of AC electric motor in industry, spinning pumps, conveyors, and compressors. Simpler and cheaper than synchronous alternatives but historically less efficient. International efficiency ratings run IE1 (basic) through IE5 (ultra-premium). IE3 is the European Union minimum for most industrial applications since 2017. Sovelmash claims IE3 / IE4 / above.
Slavyanka winding
ENGINEERING
A stator winding technology combining star and delta configurations in parallel within the same asynchronous motor. The claim, developed by Dmitry Duyunov since 1995, is that this technology lets asynchronous motors reach efficiency classes previously associated only with synchronous motors, while remaining cheaper to manufacture. Protected in combination as a commercial trade secret; 19 Rospatent records across the family, including active inventions.
Lighter-than-air aircraft (LTA)
AVIATION
Any aircraft deriving its lift from a gas lighter than the surrounding air — primarily helium or, historically, hydrogen. Includes free balloons, dirigibles (airships), and hybrid airships that combine aerostatic and aerodynamic lift. AERONOVA's Ministry of Industry license covers category 1530 — lighter-than-air aircraft.
Rigid vs. non-rigid airship
AVIATION
A rigid airship has a fixed internal skeleton (typically aluminum or modern composites) maintaining its shape regardless of gas pressure. The Hindenburg, Zeppelins, and LTA Research's Pathfinder 1 are rigid. A non-rigid airship (blimp) maintains its shape entirely through the internal pressure of the lifting gas. Semi-rigid and hybrid designs combine elements of both. AERONOVA's NOVA-35 is projected as a rigid design.
Hybrid airship
AVIATION
An airship deriving lift from a combination of aerostatic buoyancy (gas) and aerodynamic forces (from the hull shape during forward motion), allowing heavier operating weights and improved ground handling. AERONOVA's Aerolyot-01 is a hybrid.
PKTB
INDUSTRIAL
Производственно-конструкторское технологическое бюро — the Russian term for a Production-Design-Technology Bureau. It designates a facility combining serial production, engineering design, and technology development functions under one roof. Sovelmash's 14,700 m² facility in Zelenograd is a PKTB.
OEZ / SEZ (Special Economic Zone)
REGULATORY
A designated territory where enterprises operate under a special legal and tax regime — typically including reduced corporate tax, customs benefits, and simplified administrative procedures — in exchange for commitments on job creation, investment volumes, and import substitution. Residency is granted by state expertise approval, not self-declared. Technopolis Moscow is the SEZ of which Sovelmash is a resident.
AGR / ZOS
REGULATORY
AGR — Architectural-Planning Resolution (АГР) — the Russian construction-code document approving the architectural and planning design before construction. ZOS — Construction Completion Conclusion (ЗОС) — the federal document issued by Mosgosstroinadzor confirming that a completed construction complies with its approved project documentation. The remaining regulatory document for a new industrial facility to begin serial production is the operational commissioning permit, separate from AGR and ZOS.
EGRUL
REGULATORY
Единый государственный реестр юридических лиц — the Russian Federal Unified Register of Legal Entities. An EGRUL extract contains a company's legal name, INN (tax identification number), OGRN (primary state registration number), registered address, founders, and governing bodies. Publicly accessible.
VAT recovery decision
REGULATORY
A ruling issued by the Russian Federal Tax Service when an enterprise has overpaid value-added tax on real inputs and claims a refund. Issuance requires the tax authority to verify that the company has genuine audited turnover and bona fide business operations. Sovelmash received its VAT recovery decision in July 2022.