Imperium Collects $18M To Pay Down Debts

10/16/08Follow @xconomy

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.

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