Kuosol’s headquarters will be in Mexico, with an initial estimated investment of $80m, and Repsol and the Mexican Group KUO will each own a 50% stake in the joint company.
The new company will develop and market highly sustainable non-edible vegetable oil to be used for the production of second generation biofuels.
The oil is from the jatropha curcas bush, which additionally generates a considerable amount of biomass that can be used for steam and electric power cogeneration.
The jatropha plant will be cultivated on barren land in the Yucatan state of Mexico.
In April 2010, Repsol created its New Energy unit to identify and develop businesses related to bioenergy, renewable energy for transport and other areas that present synergies with the company’s existing activities.
