The Institute has been founded in 1956 (with its first organisational structures in 1953). It was destined to conduct fundamental research in the area of principles of operation, design, construction and developemnt of machinery for energy conversion in flows. Presently, the investigations are being carried out in the following fields: fluid mechanics, multiphase flows, thermodynamics and heat transfer, plasma physics, laser technique, machine mechanics, tribology and diagnostics of power sector machinery.
In 1998 The Institute was employing 130 people including 77 scientists. The Institute is authorised to award the degrees of Doctor of Philosophy and Doctor of Sciences (habilitation)in the field of mechanics, construction and exploitation of machinery.
In its structure the Institute has four departments divided further into 15 scientific groups.
Apart from the fundamental research, the Institute offers its services in the area of practical engineering applications such as: turbines, pumps and hydrokinetic couplings, ventillators, marine propellers, solar collectors; their design, calculation and technical expertise; development of unique equipment and apparatus.