Abengoa Bioenergy expects to sell 793 million gallons of biofuel in 2011

Abengoa Bioenergy, one of the world's leading producers of biofuels, says that, due to soaring demand for ethanol, it expects to sell 3 billion liters (approximately 793 million gallons) of biofuel in 2011. For Abengoa, that means that nearly all of its biofuel production capacity will have to be used.

In an interview on the sidelines of the World Biofuels 2011 conference, Sanchez Ortega, chief executive officer of Abengoa, told Reuters that, "We are moving from a sellers' to more of a buyers' market."

With its U.S. headquarters located in St. Louis, MO, its South American headquarters located in Sao Paulo, Brazil and numerous facilities throughout Europe, Abengoa is one of only a handful of global biofuel companies, so to have it's current capacity spoken for is worth noting.

[Source: Reuters]

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