Seattle-based Imperium Renewables has announced it has secured $214 million in investments… possibly a record for biodiesel makers in the U.S. and reflecting a trend in more money going into the renewable fuel.
From an Imperium Renewables press release:
Imperium Renewables, Inc. today announced it has closed its Series B round with $113million of private equity and has mandated Société Générale Corporate & Investment Banking to act as sole book-runner and lead arranger of a $101 million Senior Secured Credit Facility.
The company, one of the largest biodiesel producers on the West Coast, will operate the nations largest biodiesel plant when its Port of Grays Harbor facility opens this July. With this investment, the company will continue its plans to open additional facilities around the world, including Hawaii, the Northeast United States and internationally.
All of the Imperium facilities are expected to produce a total of 400 million gallons of biodiesel a year by the end of 2008.
A reported $2.6 billion in investments were sunk into biodiesel in 2006… an increase of nearly 80% from 2005.