The software emulation will be transparent to the user, Konukhov said. The emulator will automatically detect when an x86 application is executed and will perform the binary translation, he said.

Even though the technology is theoretically platform-independent, the company currently focuses its development efforts on supporting Linux servers and software. Support for Windows software is a longer term goal.

The project started in the spring of 2012 and the product is expected to be ready for beta testing in the middle of next year, Konukhov said. The final product will be released sometime at the end of 2013 or in the beginning of 2014, he said.

"I think we currently support 50 or 60 percent of the functionality of Intel-based CPUs," Konukhov said. This includes the entire base instruction set of the x86 architecture.

The company is working on adding support for the Streaming SIMD Extensions (SSE) and MMX instruction sets. "This will basically allow us to have multimedia functionality in our applications," Konukhov said.