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Colombiana Ecopetrol creates subsidiary focused on technology and innovation in Spain

Colombian energy company ecopetrol announced on Friday the creation of a subsidiary in Spain focused on activities related to science, technology and innovation, within its process of diversification and transition towards clean energy.

Econova Technology & Innovation will be 100% controlled by Ecopetrol, the largest company in Colombia.

“The presence in Spain allows us to be in the European Unionearly access to technology under development and international financing sources, promoting the entry of the Ecopetrol Group into the global ecosystem,” the company said in a statement.

Ecopetrol acquired ISA in 2021, a business conglomerate with operations in the energy, road and telecommunications businesses in Colombia, Brazil, Chile, PeruBolivia, Argentina and Central America through 51 affiliates and subsidiaries.

In recent years, Ecopetrol has increased its efforts in the concept of what it calls “Sustainability”, a definition based on technology and digital transformation in order to generate greater value through alternative energies.

Ecopetrol’s share fell 0.34% at mid-session on Friday to 2,362 pesos.

Ecopetrol doubled its net profit in 2022 to a record of 33.4 trillion pesos (6,863 million dollars) compared to the previous year.

Source: Gestion


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