Repsol acquires 20% share in microalgae research firm
The major Spanish energy companies are increasing their usage of microalgae. (Photo: AlgaEnergy/ FIS)
(SPAIN, 8/30/2010)
The Spanish oil company Repsol has completed its purchase of a 20 per cent share in AlgaEnergy, which is dedicated to researching microalgae.
After the transaction, shareholders at AlgaEnergy are composed of Augusto Rodriguez-Villa (45 per cent), Repsol (20 per cent), Perseo Sociedad de Capital Riesgo de Iberdrola (20 per cent) and other independent shareholders representing the remaining 15 per cent, reported Capital News.
Through this acquisition and a unity between their business and alternative energies, Repsol can now demonstrate their commitment to microalgae, due to its enormous potential to be used for creating biofuels.
As reported by the company, its executives decided to take...
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