Construction on the state-of-the-art ethanol facility will proceed immediately on the site where Abengoa Bioenergy of Ravenna built its original pilot plant in 2004. The facility is expected to be completed in early 2007. 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 United States.

The facility will use about 32 million bushels of corn each year, and will employ over 50 people.

"We are committed to finding ways to lessen the world's dependence on oil, and to producing biofuels that are not harmful to the environment," said Javier Salgado, President and Chief Executive Officer of Abengoa Bioenergy. "The Ravenna facility is a great addition because of its abundant supply of grain, and because we are comfortable continuing our long history of doing business in the state of Nebraska."

Once the Ravenna facility is fully operational, Abengoa Bioenergy Corporation will be the largest ethanol producer in Nebraska, with annual production capacity from the Ravenna facility and its existing York, Nebraska facility exceeding 140 million gallons. Abengoa Bioenergy Corporation also operates ethanol facilities in Colwich, Kansas and Portales, New Mexico. Its parent company, Abengoa Bioenergy, S.A. is one of the world's largest ethanol producers, is the largest producer in Europe and the fifth largest producer in the United States. Upon completion of the Ravenna facility, Abengoa Bioenergy will be able to produce 203 million gallons of ethanol in the U.S. each year, in addition to its current annual capacity of 85 million gallons in Spain, and with an additional 53 million gallon facility expected to be completed in Spain within the next few months. Abengoa Bioenergy is a wholly owned subsidiary of the Spanish public company, Abengoa, S.A. Additional information about Abengoa Bioenergy can be found at www.abengoabioenergy.com.