This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at El BEI aportará 200 millones de euros a Repsol para apoyar sus programas de I+D

The BEI will contribute 200 million euros to Repsol to support his programs of R&D

20/05/2013

20 May 2013

The European Bank of Investments (BEI) will fund with 200 million euros on a long-term basis the program of investigation and development (R&D) of Repsol. The agreement between the European economic institution and the company concertó in the Campus of Repsol. The vice-president of the BEI, Magdalena Álvarez, and the president of Repsol, Antonio Brufau, signed the agreement whereby the BEI will fund numerous performances of the program of investigation and development of Repsol, that covers diverse fields of the power.

The BEI will fund a program of developing investments and investigation that covers fields like improvements in the transport of natural gas; energetic efficiency; optimisation of the process of refining of the oil; development and production of petrochemical derivatives; and storage of CO₂. Likewise they include programs for the development of systems and products in the field of generation of renewable power, biopower and solutions of transport.

Of left to right: Antonio Brufau, president of Repsol, and Magdalena Álvarez, vice-president of the European Bank of Investments.

The investments of this loan, that will develop in the period 2013-2016, answer to the aims of the European Union and of the BEI in support to the sustainable power, competitive and safe, as well as to the promotion of the energetic efficiency and the technological capacity of the European companies. It treats of an important reinforcement for the work that the company realises in R&D, key factor for Repsol, that has a Strategic Plan of Technology like part of his business strategy.

The greater part of the projects develop in the Centre of Technology Repsol, situated in Móstoles (Madrid), one of the most advanced of Europe and the biggest of Spain, with some 56.000 m² built. More than 400 scientists and researchers work in his installations, that were inaugurated in the year 2002. It is involved in numerous projects of investigation, national and international, collaborates with universities and skilled companies in multiple matters and has a complete equipment.

Thanks to his bet by the technology, Repsol has developed innovative projects for the industry that have been recognised internationally, like Caleidoscopio, that allows to obtain images of the marine subsoil with greater rapidity and precision, and respecting the natural surroundings or Sherlock, to extract the maximum information of the rock that contains the hydrocarbons or for the storage of CO₂.