Following Repsol’s announcement that it would create a new energy business unit, the company has announced that it has acquired a 20% stake in AlgaEnergy. AlgaEnergy, a R&D company exclusive to microalgae research, will help Repsol strengthen its research program for production of next generation biofuels from algae.
Repsol is currently developing several R&D microalgae projects which are proven to be an effective alternative for the production of biofuels. Following the transaction, the AlgaEnergy shareholding is made up of Augusto Rodriguez-Villa (45%), Repsol (20%), Iberdrola Perseus-Venture Capital Company (20%), with the remaining 15% made up of independent shareholders.
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