Biodiesel company Imperium Renewables, of Seattle, said it has raised $113 million in equity financing and is wrapping up a $101 million line of credit, continuing the massive injection of capital into the alternative fuel sector.
The financing of Imperium, run by former Microsoft executive and venture capitalist, Martin Tobias, is believed to be the biggest private equity investment in the sector to date.
The company said Société Générale is arranging the credit financing.
From the statement:
The company will operate the nation’s 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…
…Existing investors Technology Partners and Nth Power were joined by a number of new investors, including funds affiliated with: Ardsley Partners, Attractor Investment Management Inc., BlackRock Investment Management (UK) Ltd., Capricorn Management, LLC, Ecofin, Robeco C.V., Silver Point Capital, Southport Energy Alternatives, Stark Biodiesel Investments, Ltd., and Treaty Oak Capital Management.