Repsol has acquired 17% of the Spanish company Recreus through its strategic investment fund. Recreus produces and markets flexible and rigid thermoplastic filaments for 3D printing and is one of the most relevant manufacturers in that market through its well-known flexible filament brand, Filaflex.
With Repsol's collaboration, Recreus will accelerate its R&D, strengthen its position in the market and boost its medium and long-term expansion plan. The company, created in 2013 by Ignacio García, has demonstrated great innovative capability and knowledge of the most advanced solutions for 3D printing, which in turn has made it one of the market leaders.
Repsol is also developing modified polymers to be used as raw material in the different 3D printing technologies as part of its innovation and technology programs.
3D printing with elastic materials has many applications in multiple sectors and is rapidly spreading to new fields. Currently, Recreus is working with companies in advanced orthopedics and textiles to develop materials and printing processes specific to their markets.
Repsol's Corporate Venturing investment fund is endowed with 85 million euros for the 2016-2020 period. It aims to capture technological innovation, already close to its commercial deployment, that can be tested quickly to assess its potential.
The fund’s strategy is based on open innovation to complement the Company’s internal R&D capabilities and accelerate the incorporation of technology and innovative models to the business units. It has stakes in more than 10 companies and has analyzed more than 500 investment opportunities since its creation.
The six technological areas that the fund focuses on are: operational reliability, circular economy, advanced mobility, energy diversification, new materials and digital technology applied to exploration and production (E&P). The most recent transactions involve the Spanish nanotechnology company Nanogap and Ample of the United States.