Repsol said Thursday it has signed an agreement with Neuron Bio to buy 50% of NEOL Biosolutions, S.A, formed from a segregation of Neuron Bio’s current bioindustrial unit. The alliance will accelerate the development at industrial scale of the processes to obtain advanced biofuels previously developed by Neuron.
NEOL will continue to develop cutting-edge biotechnology for the energy sector, offering a multitude of synergies with Repsol’s biofuels projects in line with the European Union’s drive for innovation that should help create a sustainable bioeconomy by 2020.
The company has a team of 25 highly qualified professionals that are internationally renowned in the biotechnology industry and assets that include a platform for discovery and development of bioprocesses (Microbiotools by Neuron®), a number of patented biofuels generation processes (MicroBiOil®) and a pilot plant for demonstration purposes.
Repsol said its New Energy unit is currently working on different business initiatives in bioenergy, renewable energy and electric transport.
Repsol has extensive experience in research, development and the sale of biofuels which will be significantly reinforced with its participation on NEOL.
Neuron Bio is a traded biotechnology company dedicated to the discovery and development of neuroprotective medication to prevent neurodegenerative illnesses such as Alzheimer’s disease.
NEOL BioSolutions, split from the industrial division of Neuron’s BioIndustrial unit, applies biotechnology by selecting the most appropriate microorganisms to obtain and improve products such as biofuels and bioplastic.