Odd triplet superconductivity in superconductor/ferromagnet multilayered structures

We demonstrate that in multilayered superconductor-ferromagnet structures a non-collinear alignment of the magnetizations of different ferromagnetic layers generates a triplet superconducting condensate which is odd in frequency. This triplet condensate coexists in the superconductors with the conventional singlet one but decays very slowly in the ferromagnet, which should lead to a large Josephson effect between the superconductors separated by the ferromagnet. Depending on the mutual direction of the ferromagnetic moments the Josephson coupling can be both of 0 and $\pi $ type.