Biodiesel start-up hauls in $214 million

Seattle-based biodiesel maker Imperium Renewables announced on Wednesday that its Series B financing round has roped in a total of $214 million, a possible record for the American biodiesel industry.

The investment comes from two sources: $113 million of private equity and $101 million from a senior secured credit facility that will be arranged by Societe Generale. According to a statement from Imperium, the funding is believed to be the United States' largest-ever private-equity investment in a biodiesel company.

Imperium plans to use the money invested for opening new biodiesel plants around the world, including in Hawaii and in northeastern states. Meanwhile, the company is continuing construction of its Port of Grays Harbor plant in coastal Washington; it expects to finish building the facility in July.

Cumulatively, the Grays Harbor plant and three other planned Imperium facilities are expected to optimally generate up to 400 million gallons (10 million barrels) of biodiesel per year by the end of 2008. The Washington plant alone will be capable of up to 100 million gallons per year, which will make it the largest biodiesel facility in the country.

Biodiesel, which is fuel created from vegetable oils--including, potentially, the residual fat and oil from fast-food restaurants--is a hot topic these days with all the talk of a need for renewable, clean-burning energy sources.

Currently, Imperium and subsidiary Seattle Biodiesel already operate refineries that produce biodiesel out of farm-grown crops like soy and palm oil.

[Remo_Williams]

Interesting

The US consumes appx 150 million barrels of oil per year. Even a generous rounding would allow the US to replace 70 million barrels using biodiesel; the rounding is to signify the loss of energy from biodiesel to crude oil.

-R

[RompStar_420]

cool

This sounds great even tho I never owned a Diesel anything car, sounds good, the more we can distance our self from the Middle east and their oil, the better. The only reason oil has so much value is because of the demand from USA and Europe.

If the US figures out their energy import problems with replacements like this and or other new technolgoies, trust me, Oil won't be worth as much, hopefully this will happen and all those puppets that jump up and down and say, down with Americal Imperialist, will find out the hard way, where they will stand financially after we have 0 need for their products.

Hopefully soon, this will happen. Also I think that the US needs to invest more into public transportation, more commuter trains, more light rail, in Europe you pretty much don't even need a car, you can get anywhere you want using public transportation.

[whargoul]

You're a little off

Actually, the US consumes over 20,030,000 barrels of oil per day; which comes out to 7,310,950,000 barrels of oil per year.

http://www.nationmaster.com/graph/ene_oil_con-energy-oil-consumption

That 10,000,000 barrels per year they're going to produce isn't going to be anything more than a fart in a hurricane as far as our oil needs go.

[sudokuscore]

Encouraging story

It was only yesterday I had a lengthy discussion regarding raising capital from US for an Indian company planning to set up a bio diesel plant there. They are planning to use Jatropha curcas seeds to be grown in waste land.
US being the trend setter , this is indeed good news.
They are projecting a very decent ROI. If any one knows of any profit making bio diesel refuneries please share info.
My mail id [e-mail]

[sudokuscore]

Encouraging story

It was only yesterday I had a lengthy discussion regarding raising capital from US for an Indian company planning to set up a bio diesel plant there. They are planning to use Jatropha curcas seeds to be grown in waste land.
US being the trend setter , this is indeed good news.
They are projecting a very decent ROI. If any one knows of any profit making bio diesel refuneries please share info.
My mail id vin AT sudokuscore.com

[sudokuscore]

Encouraging story

It was only yesterday I had a lengthy discussion regarding raising capital from US for an Indian company planning to set up a bio diesel plant there. They are planning to use Jatropha curcas seeds to be grown in waste land.
US being the trend setter , this is indeed good news.
They are projecting a very decent ROI. If any one knows of any profit making bio diesel refineries please share info.
vin AT sudokuscore.com

[dondarko]

this is crap, but..

on the other hand check this company out that I just found about today http://steorn.com/orbo/ . Apparently they make electricity through using magnetism to spin around electron then stopping it and harnessing its momentum energy.

[dondarko]

the reason...

i said this is crap is b/c they will only be making 10 million barrels of oil which is not even a drop in the bucket.

[J. Blow]

Hello? Bozo

There is no such thing as "free" energy. That would cause a re-write of all physics laws.

This companies claims have never been validated or proven in any way and you should not allow to be sucked into their stupid claims.

http://www.randi.org/jr/2006-09/092206bad.html#i6