08-18-2010
IBERDROLA LEADS THE “VIDA” PROJECT TO DEVELOP NEW SUSTAINABLE MICROALGAE TECHNOLOGIES

Selected in the sixth call for projects by the Ministry of Science and Innovation as part of its “Cenit” programme

  • This initiative, which will require an investment of €20 million, aims to generate and create the knowledge and technology necessary to recover and fully harness algae in a sustainable way
  • IBERDROLA will conduct the project through its engineering subsidiary from this year until 2013 in conjunction with another 15 companies and 25 research centres in 10 autonomous communities

The VIDA project (the Spanish acronym for advanced technologies in the integrated recovery of algae), spearheaded by IBERDROLA to develop new microalgae-based energy technologies, among other objectives, has been selected in the sixth call for projects by the Ministry of Science and Innovation as part of its “Cenit” programme.

With a total investment of €20 million, this initiative aims to generate and create the knowledge and technology necessary to recover and fully harness algae in a sustainable way.

Through its engineering subsidiary, the company’s tasks will include selecting, cultivating and recovering microalgae for carbon capture and biofuel production.

IBERDROLA will conduct the VIDA project from this year until 2013 in conjunction with another 15 companies, including major corporations such as Repsol and other smaller state-of-the-art technology companies such as Alga Energy, and 25 research centres in 10 autonomous communities.

IBERDROLA’s leadership of this project is line with its commitment to remaining at the technological forefront and driving wealth and social development; the VIDA project will promote a new industry, helping to create jobs in Spain.

It also fits the group’s commitment to sustainable development and combating climate change, which has garnered several major awards, such as the company’s inclusion in the Global 100 Most Sustainable Corporations in the World 2010 index.

IMPORTANT INFORMATION

This communication does not constitute an offer of purchase, sale or exchange or a request for an offer of purchase, sale or exchange of values. The shares of Iberdrola S.A. cannot be offered or sold in the United States, except if this is carried out through a declaration of effective notification of what is laid out in the Securities Act or under the protection of a valid exemption of the need for notification.

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