According to the statement made by Repsol, with this acquisition, the energy company will accelerate the R&D capabilities of Recreus to make it a leader in the filament market.
The acquisition was concluded through Repsol Corporate Venturing. The financial terms of the deal have not been disclosed.
Recreus was founded in 2013 by industrial designer, Ignacio García. The company boasts that it was the first to introduce an elastic filament in the 3D printing market, the TPU-based FilaFlex. The company’s flexible filament have been especially used in orthopedics such as bespoke 3D printed insoles made by Cheshire-based Cadscan, and 3D printed prostheses.
Concerning the deal with Repsol, García, commented “thanks to Repsol investment we will be able to tackle a new future in 3d printing. Let’s grow up together in this
fascinating 3D printing world.”
For the 2016-2020 period, Repsol has allocated €85 million to invest in the energy and technology sector. The company invests in start-ups whose products are close to commercial deployment.
So far, Repsol’s investments include start-ups such as Silence, the manufacturer of the electric bike S01, Nanogap, a nanomaterials company, and smart homes systems manufacturer, Wattio, among several other ventures.
Furthermore, Repsol is involved in developing bioplastics and piezoelectric materials for use in 3D printing.
With the acquisition of Recreus, Repsol has stated that it is “developing modified polymers to be used as raw material in the different 3D printing technologies as part of its innovation and technology programs.”
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Featured image shows the range of filaments made by Recreus. Image via Recreus/Twitter.