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Abengoa Bioenergy Assumes Control of Ravenna Ethanol Plant

April 20, 2004

Abengoa Bioenergy Corporation has signed an agreement with Nordic Biofuels of Nebraska, L.L.C., to become the managing partner of a soon-to-be-completed ethanol manufacturing facility in Ravenna, Neb.

As a result of Abengoa Bioenergy's participation in the project, previously known as Nordic Biofuels of Ravenna, L.L.C., its name will change to Abengoa Bioenergy of Ravenna, L.L.C. When fully operational, Abengoa Bioenergy of Ravenna will be able to produce 88 million gallons of ethanol per year, making it the largest dry mill ethanol plant in Nebraska and one of the largest in the country.

With facilities in York and Ravenna, Abengoa Bioenergy will become the state's largest producer of ethanol, with an annual capacity of more than 140 million gallons. Combined with the expansion of existing plants in Kansas and New Mexico, Abengoa Bioenergy will rank as the second largest ethanol producer in the United States with a capacity of more than 200 million gallons per year.

"Nebraska is important to us," said Javier Salgado, President and Chief Executive Officer of Abengoa Bioenergy. "We like being here and we've done business here for more than 10 years. The new facility at Ravenna further indicates Abengoa Bioenergy's commitment to the state."

Abengoa Bioenergy of Ravenna will benefit not only the citizens of Ravenna, but will help people throughout Buffalo County. When completed, Abengoa Bioenergy of Ravenna is expected to employ more than 50 people and will have a significant economic impact on the area.

"This new facility means more jobs for the Ravenna community, and it gives our farmers an additional market for their grain," said Ravenna Mayor Gerald Reimers. "We are also proud to be doing our part to improve the environment and lessen our nation's dependence on foreign oil."

Nordic spent considerable time and effort developing the project from site selection, design and permitting, to orchestrating agreements and obtaining local and state support. Nordic Biofuels of Nebraska is affiliated with Vancouver, Wash.-based Baard Renewables, which develops ethanol facilities throughout North America.

"Nordic's history of project development combined with Abengoa's strength within the ethanol industry creates an excellent opportunity for Ravenna," Nordic President John Baardson said.

Groundbreaking for the Ravenna plant took place on March 16. Since then, the foundation for the initial research and development facility has been poured, and construction work has begun.

The Ravenna plant fits into Abengoa Bioenergy's focus and commitment to research and development, and will serve as an extension of its research initiative based at the operating R&D pilot plant in York, Salgado said.

"The future of ethanol production is the advancement of science", he said. "We have a foundation in place to build for the future, and the Ravenna facility fits perfectly within our strategic plan".

"As a leader in ethanol production and with our commitment to research, I can envision a time in the not-so-distant future where Abengoa Bioenergy is training people throughout the industry, and the Ravenna plant would be a perfect place to do that."

Abengoa Bioenergy operates five ethanol plants globally with a sixth under construction, and has plans to develop more facilities in the United States and Europe.

For more information or to arrange an interview with the company, contact Mark Derowitsch of Bailey Lauerman at (402) 479-0220. To download images of Abengoa Bioenergy's Ravenna site, go to web page.

Based in St. Louis, Abengoa Bioenergy is a global producer of ethanol through leading-edge manufacturing technologies and best-class operational performance. Abengoa Bioenergy operates ethanol plants in the United States and Spain.

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