imperium

Report: Another biofuels company loses its CEO

It looks good on paper. Combine the managerial expertise of the computer world's start-ups with the growing market for green energy.

But, as Larry Gross as discovered, it doesn't always work. Gross, brother of Bill Gross and a former entrepreneur at Idealabs, is no longer the CEO of AltraBiofuels, according to Katie Fehrenbacher at Earth2Tech. The 4-year-old AltraBiofuels has pulled in millions in venture funds.

So far, there's no explanation for the departure.

Gross, though, isn't the only former IT exec to also be a former energy exec. Late last year, Martin Tobias, a software VC … Read more

Biofuel takes flight with Virgin Atlantic

Virgin Atlantic Airways flew a 747 from London to Amsterdam on Sunday powered in part by a biodiesel made from tropical oils.

The fuel used by the plane is a combination of regular kerosene-based jet fuel and a biodiesel from Imperium Renewables composed of babassu oil and coconut oil. Babassu comes from a tree in Brazil. In fact, 80 percent of the fuel consumed by the plane was kerosene-based. Only 20 percent of the fuel used on the flight came from plant oils. Still, it's a first, says Virgin.

The oils came from existing plantations, Imperium said. No modifications … Read more

Biodiesel maker Imperium Renewables slims down workforce

Imperium Renewables has cut its workforce, only weeks after pulling plans for its public offering and replacing its CEO, the Seattle Post-Intelligencer reports.

The Seattle-based biodiesel producer told the newspaper that the workforce reductions were done to "address short-term challenges and ensure the company's long-term growth."

It said that the changes will not affect the operation of its Grays Harbor, Wash., biodiesel plant which will produce 100 million gallons of biodiesel a year.

The news follows the company's announcement that it has delayed its planned initial public offering citing market conditions and the departure of former CEO Martin Tobias … Read more

Imperium Renewables delays IPO plans

Biodiesel manufacturer Imperium Renewables has withdrawn its plans to go public, citing "unfavorable market conditions."

The Seattle-based company filed the paperwork with the Securities and Exchange Commission on Thursday. It had filed to go public in May, and had plans to raise $345 million.

The news comes a few weeks after the company replaced its then-CEO, Martin Tobias, naming President John Plaza as interim CEO and investor Nancy Floyd as chairman.

Imperium Renewables said that Tobias' departure was part of a planned transition, but company watchers noted that his leaving was abrupt and not well publicized. (The company … Read more

Management shake-up heats up rising biodiesel star

Another day, another CEO ouster at a green tech start-up.

Martin Tobias is out as chairman and CEO of Imperium Renewables, the company has announced. John Plaza, who founded the company with Tobias, is interim CEO while Nancy Floyd has taken over as chairman.

Tobias has been the spokesman and public figure for Imperium since its founding. The company has raised more than $200 million dollars and earlier this year christened a 100-million gallon refinery in Washington state. It has plans to build similar sized facilities in Hawaii, Argentina and elsewhere.

The ouster of Tobias is something of a surprise. … Read more

Algae start-up signs contract for biodiesel

Solazyme, which wants to turn algae into transportation fuel, has signed a contract to supply oils to Imperium Renewables, a growing biodiesel refiner.

Under the deal, Solazyme will deliver algae oil to Imperium, which will then turn it into biodiesel. Imperium makes biodiesel from a number of plant oils. Solazyme is currently only delivering "pilot scale" amounts of oil, said Solazyme president Jonathan Wolfson, but the production is real.

"We will be delivering agreed upon quantities to Imperium over 2007," he said. "In addition, we are producing algal oil today and have been for some … Read more