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Zeroemissions takes a stake in the Spanish Company Carbon Fund (FC2E)

June 18, 2007

Seville, June 18, 2007. - Zeroemissions, the Abengoa Company that provides global solutions for the fight against Climate Change, has taken a 10 million euro stake in the Spanish Company Carbon Fund (FC2E) and has thereby become a member of its General Board of Investors and chairs its Advisory Committee.

Carbon Funds are utilized to finance the acquisition of emissions from projects that contribute to reducing greenhouse gas emissions in developing countries and in economies that are undergoing transition, in accordance with the Kyoto Protocol Clean Development Mechanisms and Joint Implementation (CDM/JI).

Promoted by the Institute for Official Credit (ICO) and Santander Investment, the Spanish Company Carbon Fund is the first mixed capital (public and private) fund to be managed in Spain with the aim of assisting companies in their endeavors to comply with the Kyoto Protocol. The foreseen global size of the Fund is 100 million euro, with the promoters thereof undertaking to put up half the committed economic sum.

It is a global fund but, at the same time, investments will focus mainly on countries in which Santander and the ICO are present (Latin America, Eastern Europe, and the Maghreb region), and Asia will also be added. Its investment period runs from 2006 to 2008 for the acquisition of emission rights, from clean projects in the main.

Abengoa’s stake taking in the FC2E must now be added to the position it has already taken in several other funds: the Spanish Carbon Fund, established by the Spanish Government and the World Bank, in which it is the fourth participant from the private sector, led only by the four major electric energy companies; the Multilateral Carbon Credit Fund, promoted by the European Investment Bank and the European Bank for Reconstruction and Development; and the Biocarbon Fund, where Abengoa is the only participating European industrial and technology company.

According to the chairman of Zeroemissions, Alfonso Gonzalez, “With this new investment, Abengoa consolidates, through Zeroemissions, its commitment to solutions for the fight against Climate Change by investing in one of the mechanisms proposed by the United Nations in the Kyoto Protocol. In our opinion, it is important for us to be part of this Spanish initiative managed by the ICO and Santander Investment, whose vast experience and prestige assure that the principles of profitability and good governance thereof will be maintained”

Zeroemissions Technologies, a company integrated into Abeinsa which, in turn, is Abengoa’s industrial engineering and construction business unit, provides global solutions for the fight against Climate Change through the development of emission reduction projects (CDM/JI), CO2 capture mechanisms and emission rights trading. In addition, Zeroemissions is intensely involved in the development of R&D&I for greenhouse gas reduction and elimination.

Abengoa is a technology company applying innovative solutions for sustainable development in the infrastructure, environment and energy sectors. It is a Listed Company with market capitalization of 2,711.38 million euro (18/06/2007) and is present in more than seventy countries where it operates with its five Business Units: Solar, Bioenergy, Environmental Services, Information Technologies, and Industrial Engineering and Construction. (

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