Tag Archives: abengoa

[NEWS] Shell Oil Bids $26 Million for Kansas Biofuel Refinery

A logo of Shell is pictured at a gas station in the western Canakkale province

Photo: REUTERS/Murad Sezer

– by Chris Prentice, October 14, 2016, Reuters

Royal Dutch Shell Plc’s U.S. arm has offered more than $26 million to buy Abengoa SA’s cellulosic ethanol plant in Kansas, according to documents filed late Wednesday in bankruptcy court.

Shell’s initial bid on Abengoa’s bankrupt biofuels asset marks the oil major’s latest push into renewable fuels as the U.S. government is getting its over decade-old biofuels policy back on track following years of regulatory delays.

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[NEWS] Abengoa Plants Go To Green Plains: Ethanol’s Jolly Giant Gets Bigger

– by Jim Lane, August 23, 2016, Biofuels Digest


Graphic: Biofuels Digest

In Nebraska, word has arrived from Green Plains that it will purchase the Madison, Ill., Mount Vernon, Ind. and York, Neb. ethanol facilities from Abengoa Bioenergy with combined annual production capacity of 236 million gallons per year, for approximately $237 million in cash, plus certain working capital adjustments.

The company said it was the successful bidder on three ethanol plants for sale conducted under the provisions of the U.S. Bankruptcy Code.

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[NEWS] Abengoa to Sell Four Ethanol Refineries

– by Erin Voegele, June 14, 2016, Biomass Magazine


Graphic: Biomass Magazine

On June 13, Abengoa Bioenergy U.S. Holding LLC, along with certain of its direct and indirect subsidiaries, announced an agreement to sell four of its first-generation ethanol plants in the U.S. for at least $350 million through a competitive process in the chapter 11 bankruptcy case currently pending before the U.S. Bankruptcy Court for the Eastern District of Missouri.

According to information released by the company, it is seeking approval for minimum stalking horse bid agreements to initiate a sales process for its two maple plants, located in Indiana and Illinois, to an affiliate of Green Plains Inc. for $200 million, its plant in Ravenna, Nebraska, to an affiliate of KAAPA Inc. for $115 million, and its plant in York, Nebraska, to an affiliate of BioUrja Inc. for $35 million. Abengoa said the agreements, which are minimum bids subject to court approval and are subject to a full competitive auction sales process that is expected to occur in July and August, will provide long-term financial stability, allow the company to maintain production at the highest standards for quality, safety and environmental responsibility, and give the plants the ability to continue their go-forward business strategy under the leadership of leading providers of alternative energy.

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[NEWS] Two Nebraska Ethanol Refineries Restarting, Despite Bankruptcy

– June 4, 2016, WNAX

Nebraska-Ethanol-Board-logo-approvedAbengoa ethanol plants in York and Ravenna Nebraska have restarted operations this week. That’s a very positive development according to Nebraska Ethanol Board Administrator Todd Sneller. Abengoa is attempting to reorganize under Chapter 11 bankruptcy proceedings and wants to sell its ethanol assets. Sneller says having the restart is important given the upheaval the Spanish based company is undergoing.

He says it’s not clear yet of what type of new ownership there will be of the ethanol facilities going forward but the fact they’re operating again is positive.

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Six Bankrupt Ethanol Refineries for Sale

– March 23, 2016, Industrial Info Resources


Checking the biofuel classified section of the U.S. Bankruptcy Court, Prime Clerk LLC (New York, New York), the solicitation agent filed by Abengoa Bioenergy Holding LLC, a subsidiary of Abengoa S.A. (NASDAQ:ABGB) (Seville, Spain), will be waiting in April for firm bids to purchase the company’s bankrupt fuel ethanol plants located in Kansas, New Mexico, Illinois, Indiana and Nebraska. Within this article: The plants’ combined production capacity and estimated assets.


Abengoa Bioenergy Files for Bankruptcy

– by Holly Jessen, February 24, 2016, Ethanol Producer Magazine


Photo: Ethanol Producer Magazine

Abengoa Bioenergy U.S. Holding LLC and five of its U.S. bioenergy subsidiaries filed for voluntary Chapter 11 bankruptcy in U.S. court on Feb. 24. The filings do not include Abengoa’s corn ethanol plants in Mt. Vernon, Indiana, and Madison, Illinois, the cellulosic ethanol plant in Hugoton, Kansas, or certain other subsidiaries of Abengoa Bioenergy.

“Abengoa Bioenergy believes that this action is in the best interests of the company, the plant employees, and the creditors of each of the affected companies,” Antonio Vallespir, President and CEO of Abengoa Bioenergy, said in a company press release. “Filing and consolidating the cases in St. Louis will provide for a more efficient and less costly administration of these cases in one location, and gives our companies the potential to resume operations and generate revenues at the more profitable of these facilities. It also provides the opportunity for a coordinated and supervised reorganization or sale process, while still allowing each involved debtor company substantial control over its own costs, debts and assets.”

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Abengoa Biofuels Selling Ethanol Refineries to Avoid Backruptcy

– by Erin Voegele, January 26, 2016, Biomass Magazine


Photo: Biomass Magazine

On Jan. 25, Abengoa announced plans to sell its non-core assets, including its first-generation biofuel plants, as part of a new restructuring plan to avoid bankruptcy. It is currently unclear how the company’s cellulosic ethanol plant in Hugoton, Kansas, will be affected.

Abengoa announced plans to file for preliminary creditor protection in late 2015. In late November, Abengoa published a notice indicating its previously announced framework agreement with Gonvarri Corporación Financiera, a company belonging to Gonvarri Steel Industries, was terminated, citing a failure to meet certain conditions to which that agreement was subject. Under the agreement, announced Nov. 8, Gonvarri was expected to make a €250 million ($265.9 million) investment in Abengoa. Following news that the agreement was terminated, Abengoa said it “will continue negotiations with its creditors with the objective reaching an agreement that ensures the company’s financial viability, under the protection of article 5 bis of the Spanish Insolvency Law…, which the company intends to apply for as soon as possible.”

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