The executive director of capitalization of the Spanish Society for Technological Transformation (SETT), José Marino García, has taken over the presidency of the society that aims to host the European AI gigafactory in Móra la Nova (Tarragona).
As reported this Monday by the Official Bulletin of the Mercantile Registry (BORME), SETT has taken the presidency of the society and has appointed Marino as its representative.
In the new governance structure of the company, Alfredo Serret also appears as the first vice president of the board of directors and Daniel Barriuso as the second vice president, while Ignacio Pereña has been appointed non-director secretary and Francesc Fajula, attorney-in-fact.
The Council of Ministers gave the green light on June 16 to an investment of 719 million euros from the Ministry for Digital Transformation and Public Function, through "SEPI Digital," in the public-private consortium that will promote this advanced Artificial Intelligence (AI) gigafactory.
With this injection of resources, the Executive launched a strategic investment aimed at activating a large-scale industrial project and ensuring Spain's participation in one of the main European AI infrastructures.
In this way, "SEPI Digital" became part of the shareholding of the society that plans to present the Spanish candidacy for the European call. Spain's proposal will compete with a multi-site model that includes the locations of Móra la Nova, in Tarragona, and San Fernando de Henares (Madrid), to host the gigafactory.
Banco Santander, ACS, and Telefónica, the three reference private investors in the initiative, will jointly control 47% of the capital of said society, with an individual participation of 15.67% each.
Last week, the European Commission approved the creation of this joint venture to compete for the European AI gigafactory. Brussels has determined that the notified operation does not pose competition risks, due to the limited weight of the companies involved in the market that will result from the transaction. The operation has been analyzed through the simplified concentration control procedure.
Thus, the "joint venture" of these Spanish companies has obtained the approval of the Commission to apply for the AI Gigafactories Initiative of the community bloc, integrated into the EU's technological sovereignty strategy, aimed at strengthening and expanding the sovereign cloud and artificial intelligence infrastructure in Europe.