Iowa biofuel company to buy Imperium Renewables plant

  • Associated Press
  • Wednesday, August 5, 2015 1:38pm
  • Business

SEATTLE — An Iowa-based biofuel producer has agreed to buy almost all of Imperium Renewables’ assets.

The Seattle Times reports ) that Renewable Energy Group as agreed to pay the operator of a Grays Harbor biodiesel plant $32 million in cash and stock.

The deal also includes a 5-cents-per-gallon payment for biodiesel from Imperium’s facility that is sold for two years after the acquisition.

Imperium’s Hoquiam facility will be renamed REG Grays Harbor. REG Chief Executive Daniel Oh said in a statement that the company will keep the existing employees at the plant.

Talk to us

> Give us your news tips.

> Send us a letter to the editor.

> More Herald contact information.

Support local journalism

If you value local news, make a gift now to support the trusted journalism you get in The Daily Herald. Donations processed in this system are not tax deductible.