Cepsa has launched its startup accelerator, Cepsa Light Up, an initiative aimed at fostering the development of emerging technologies geared towards facilitating the energy transition.

With this project, the company aims to position itself at the forefront of the energy sector and address the challenges in its business lines, such as the production of sustainable energies based on green molecules, sustainable mobility, innovative solutions in circular economy, renewable energy storage, and the chemical industry, among others.

Cepsa will work to ensure that entrepreneurs receive the support needed to transform their innovative ideas into viable commercial solutions. After a selection and evaluation process, Cepsa will determine which startups and technologies it will invest in and which ones will be able to develop their projects at Cepsa's Innovation Center in Alcalá de Henares (Madrid). In this space, solutions can be tested in open collaborative environments and through co-creation, using agile methodologies and real-scale testing, enabling subsequent application in the company's businesses.

Belén Linares, Director of Innovation at Cepsa, said: "Innovation and co-creation are two fundamental drivers to accelerate the company's transformation in line with our Positive Motion strategy. Through this initiative, we aim to drive the technological development of startups and collaborate in creating scalable and sustainable solutions for the energy sector." With Cepsa Light Up we will be an active part of the development process of these companies, sharing our mentoring services, financial resources, and the commercial structure of a large company with experience in the sector and financial stability."

Cepsa's Director of Innovation will present the project this afternoon at the South Summit, the annual flagship event for the startup and entrepreneurial ecosystem, taking place this week in Madrid.

To develop this accelerator, Cepsa has established a governance structure that ensures the participation of all areas and businesses of the company to support strategic alignment and the viability of opportunities.