The Innovative Joint Stock Company Chemphyst was established in 1994 by worldwide famous and highly-qualified scientists in the field of theoretical and applied catalysis. Founding members came from the following organizations, including:

• The Chernogolovka Institute of Problems of Chemical Physics, the Russian Academy of Sciences;
• The Stekloplastic Institute in Zelenograd, specializing in glass chemistry and glass composite technology;
• The Steklovolokno Production Association, a well-known manufacturer of fiberglass materials and fabrics.

The founders were united behind a single goal: to create a new catalytic material on the basis of fiberglass woven materials, as well as to develop these catalysts for various technological processes.