Imperium Collects $18M To Pay Down Debts

Imperium Renewables, the Seattle-based biodiesel maker, raised more than $18 million last month from investors to pay down some of its debts, according to this report by The Seattle Times that cites a filing with the Securities and Exchange Commission.

Greg reported a couple weeks ago that Imperium’s existing investors provided a cash infusion to settle debts with Societe Generale, lien holders, and unsecured creditors; the dollar amount wasn’t disclosed at the time. Imperium CEO John Plaza said in a statement that he hoped the recapitalization would help the firm “resume operations as soon as possible.” The company runs one of the largest biodiesel refineries in the U.S., a 100-million-gallon-a-year facility in Grays Harbor, WA.

Author: Luke Timmerman

Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.