Isabel Díaz Ayuso learns about Repsol’s technological projects for driving the energy transition

The President of the region of Madrid, Isabel Díaz Ayuso, today visited the multi-energy Company’s Repsol Technology Lab research center in Móstoles, Madrid. She was joined by Repsol Chairman, Antonio Brufau; the Executive Managing Director of Energy Transition, Sustainability, and Technology, Luis Cabra; and the Executive Managing Director of Communication, Arturo Gonzalo. During her visit, she learned about the strategic lines that Repsol is developing to transform its businesses with the aim of advancing the energy transition and reaching its target of net zero emissions by 2050.

Paloma Martín, Madrid's Minister for Environment, Land Use Planning, and Sustainability, also took part in the visit. The researchers in charge of the projects personally explained to the President all about the technologies being developed related to circular economy, renewable hydrogen production, digitalization, and artificial intelligence applied to industry to increase operational efficiency.

Repsol's ambition is to lead the energy transition. As such, it has made a commitment to technological neutrality and is developing a wide range of innovative technologies. It strongly believes that all of them will be necessary to tackle the enormous challenge posed by decarbonization, and that they are all part of the solution to climate change.

Digitalization and technology are essential tools for Repsol in the energy transition. Alongside energy efficiency, circular economy, and renewable hydrogen, as well as carbon use capture and storage, they represent the pillars of the Company’s strategy to transform all of its industrial centers into multi-energy hubs capable of generating products with a low, zero, or even negative carbon footprint, as outlined in its 2021-2025 Strategic Plan.

Repsol is accelerating the energy transition and recently announced its new, more ambitious targets to reach carbon neutrality by 2050. This includes the additional €1 billion that the Company will allocate to low-carbon projects in the 2021-2025 period, up to a total of €6.5 billion, as well as the 6 GW of renewable generation capacity to be installed by 2025 and 20 GW by 2030. In addition, €2.539 billion will be used to drive projects throughout the renewable hydrogen value chain and install the equivalent of 1.9 GW of capacity by 2030 to become a market leader on the Iberian Peninsula and a major player in Europe. Lastly, the Company will also produce more than two million tonnes of sustainable biofuels by 2030.

During her visit, Isabel Díaz Ayuso exchanged views with two young researchers that had recently been employed after finishing an internship at the research center as part of a dual vocational training program. Repsol has been taking part in this kind of education programs — which aim to complement the education students receive in the classroom with a period of practical learning in a real work environment — for over 10 years, and it's one of the leading companies in this area.

Commitment to cutting-edge research

Repsol has 5,500 employees in the region of Madrid. Most are located in the corporate headquarters, in Repsol’s 230 service stations spread over the region to offer the most extensive range of mobility products, and the Repsol Technology Lab research center in Móstoles, where most of the Company’s R+D+I is carried out. In the lab, 240 scientists and researchers pursue different lines of research related to the decarbonization of the industry, renewable hydrogen throughout the value chain, circular economy, the development of new sustainable fuels or advanced materials, and the creation of advanced simulation and mathematical methods to improve operational efficiency, as well as the generation, storage, management, and efficient use of energy.

In order to achieve this, Repsol devotes a large amount of resources to research, development, and innovation projects year after year, with a cumulative investment of €380 million over the past five years and €70 million in 2020 alone — a difficult year due to the pandemic. Thanks to this innovation, Repsol is often featured in the top spots of rankings of Spanish companies that submit the largest amount of patent requests, and it was the energy sector leader in 2020 after presenting 11 new patent families.

These technologies are developed within the framework of an open innovation model through partnerships with other research centers, universities, and companies. The entrepreneurship ecosystem plays an important role in this model thanks to the Repsol Corporate Venturing investment fund, which has €85 million to drive the growth of start-ups offering solutions related to decarbonization, circular economy, advanced mobility, digital technologies, and asset optimization.