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September

Abengoa Bioenergía increases the exports of bioetanol in the German market

September 9, 2004

Sevilla, September 9th, 2004.- Abengoa Bioenergy has recently executed a contract of supply with Ruhr-Petrol, a trading company based in Germany, for the delivery of bioethanol to the refinery of Miro in Karlsruhe, Germany. The contract is long until the end of year.

The contract is for 8,000 ton of bioethanol produced and supplied by Bioetanol Galicia, complying with the strict quality requirements from the refinery. The bioethanol will be shipped from the port of La Coruña to a terminal in Rotterdam, from where it will be delivered by Ruhr-Petrol to the refinery by barge and it will be supplied in two deliveries, one in September and the second in October.

The bioethanol will be used for the manufacturing of ETBE, as Miro refinery has decided to convert the production of esters from MTBE to ETBE, beginning the operation of ETBE in September 2004. The total annual production of the ETBE plant at Miro will be around 150,000 ton, which means an approximate consumption of 68,000 ton of bioethanol per year. Shareholders at Miro refinery are the oil companies Shell, BP, ConocoPhilips and Exxon.

In the words of Javier Salgado, chairman and managing director of Abengoa Bioenergy, “exports of bioethanol over the next five years to cover the demand in the European Union is a key in the Business Plan of Abengoa Bioenergy, and also represents a very important instrument to promote the creation of infrastructures and use of bioethanol in those European countries in which biofuels are emerging or being developed at present”.

Abengoa Bioenergy’s production plants in Spain, Ecocarburantes Españoles and Bioetanol Galicia, have an excess capacity to produce cereal based bioethanol to be exported to European countries, which would get it to market more rapidly and cheaper than any other source, developing the necessary infrastructures for the expansion of biofuels before the start-up of new production plants in those markets with a growing demand of bioethanol.

An important factor in the competitiveness of the supply is reliability and flexibility, besides the capability of putting a big volume of high quality fuel grade bioethanol into the market derived from the improvements made in the production process and from the efficient operation of the plants by Abengoa Bioenergy.

Javier Salgado concluded by stating “the strategy of Abengoa Bioenergy is focused on entering into long term supply agreements for 2004 and further years, which will represent an excellent opportunity to end-users in Europe to initiate the development of the necessary infrastructures for the introduction of bioethanol, anticipating the market, and it will also represent an added value to new projects that Abengoa Bioenergy is promoting in Europe”.

Abengoa Bioenergy currently operates two cereal-based bioethanol production plants in Spain, Ecocarburantes Españoles and Bioetanol Galicia S.A. Their total installed capacity is 142 and 168 million liters per year, respectively. Moreover, a third plant is under construction in Salamanca, with Ebro Puleva as a partner, called Biocarburantes de Castilla y León. Its annual production will be 200 million liters, of which five will be produced from the conversion of the cereal biomass content for which a novel technology that is currently being developed by Abengoa Bioenergy R&D will be used. In the United States, the company operates three bioethanol facilities, with a fourth under construction with a total production capacity of 750 million liters a year, which makes the company the second largest producer in the world, and the largest in Europe.

Abengoa is an industrial and technology company listed on the Stock Exchange, with a capitalisation of more than 522 million euro (31/12/2003). It provides solutions for Sustainable Development, the Information and Knowledge Society and the Creation of Infrastructures. It currently operates in four large fields of activity: Bio-energy, where it is the world’s second bio-ethanol producer; Environmental Services, where it is the leader in Europe in some of the industrial waste market segments; Information Technologies, where it is one of the key players at international level, with operations in Europe, Latin America and Asia; and Industrial Engineering and Construction, where it is leader in Spain and Latin America.



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