We present electronic structure calculations of twisted double bilayer graphene (TDBG): A tetralayer graphene structure composed of two AB-stacked graphene bilayers with a relative rotation angle between them. Using first-principles calculations, we find that TDBG is semiconducting with a band gap that depends on the twist angle, that can be tuned by an external electric field. The gap is consistent with TDBG symmetry and its magnitude is related to surface effects, driving electron transfer from outer to inner layers. The surface effect competes with an energy upshift of localized states at inner layers, giving rise to the peculiar angle dependence of the band gap, which reduces at low angles. For these low twist angles, the TDBG develops flat bands, in which electrons in the inner layers are localized at the AA regions, as in twisted bilayer graphene.
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