Imperium Renewables Gains $214 Million

Imperium Renewables, Inc. will continue its plans to open additional biodiesel manufacturing facilities in Hawaii, the Northeast United States and internationally with the recent closing of its Series B round with $113 million of private equity. Plus, it has mandated an arranger of $101 million.

Imperium’s fuel meets or exceeds ASTM D-6751 specifications, has achieved BQ-9000 certification and is currently sold through a network of Pacific Northwest fuel distributors. When its Port of Grays Harbor facility on the coast of Washington state opens this July, the company says it will operate the nation’s largest biodiesel plant, with capacity to produce up to 100 million gallons of biodiesel per year when complete. The company is using the proceeds to begin planning for up to three additional similarly sized facilities across the country and around the world. The combined facilities will be designed to produce up to a total of 400 million gallons, or about 10 million barrels of biodiesel, per year by the end of 2008. “We have the technology, the team and the funding to fulfill our goal to be the largest producer of biodiesel in the United States within the next 18 months,” said Martin Tobias, CEO and Chairman of Imperium Renewables.
Previous articleSunTechnics U.S. Acquires Mesa Energy
Next articleGerman Conservatives Up Renewables Ante

No posts to display