Global energy and electricity provider Iberdrola announced today that it has acquired a stake in CO2 Revolution, a biotechnology company focused on reducing and offsetting the carbon footprint of large companies through reforestation.
CO2 Revolution uses a technological process to create ecosystems, through computer analysis, species selection, smart seed development, and drones for planting. According to Iberdrola, CO2 Revolution enables repopulation up to 100 times faster than traditional means, and can plant up to 100,000 tree seeds in a single day at a low cost.
Iberdrola has committed to play a leading role in the fight against climate change. The company has recently embarked on a major investment initiative aiming to significantly grow its renewable energy base. In November, Iberdrola launched a €75 billion investment plan for the 2020-2025 period, including investments over the next five years in renewable energy, with the company anticipating nearly doubling its renewables capacity by 2025.
The investment in CO2 Revolution will contribute to Iberdrola’s Tree Programme, its reforestation strategy which aims to plant 8 million trees by 2025 and up to 20 million by 2030.
The investment was made through Iberdrola’s PERSEO International Startups Programme, which invests in startups that develop technologies and innovative business models, with a particular focus on improving sustainability in the energy sector.
Iberdrola’s Director of Innovation and Sustainability, Agustín Delgado, said:
“The innovative approach with which they combine the use of drones and big data, effectively orienting their work towards improving biodiversity; one of the areas that presents the greatest challenges in the development of an energy production model based on renewables. Its actions also favour the local economy, through collaboration with local suppliers, as well as inclusion, through agreements with organisations.”