07 June 2012 17:45 [Source: ICIS news]
LONDON (ICIS)--Repsol has acquired a 50% stake in NEOL Biosolutions, which was formerly the bio-industrial division of Spain’s Neuron Bio, the oil producer said on Thursday.
The joint venture expects to select and improve micro-organisms to help develop bio-processes for advanced biofuels.
Repsol said that NEOL will have the employees, technology and patented processes for generating biofuels previously developed by Neuron BioIndustrial, as well as a pilot plant, and complement its own biofuels research.
Financial details of the transaction were not disclosed.
Neuron Bio is developing medication to help prevent neurodegenerative illnesses such as Alzheimer’s disease.
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