Imperium Collects $18M To Pay Down Debts
Luke Timmerman10/16/08Leave a CommentFollow @ldtimmerman
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.
Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.
