Repsol takes stake in Spain’s NEOL Biosolutions

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.

By: Nigel Davis
+44 20 8652 3214

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