Seattle-based biodiesel maker Imperium Renewables’ Series B financing round has taken in $214 million, a possible record for the American biodiesel industry, CNET reports.
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.
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.
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