The Number 1 Resource for Vocational Truck Fleets

Green Fleet

REG Acquires Wash. Biodiesel Refinery

August 21, 2015

Photo courtesy of Renewable Energy Group.
Photo courtesy of Renewable Energy Group.

Biodiesel producer Renewable Energy Group (REG) has completed its acquisition of substantially all the assets of Imperium Renewables, Inc., including the 100-million gallon nameplate biodiesel refinery and terminal at the Port of Grays Harbor, Wash., the company announced.

REG paid Imperium $15 million in cash and issued 1.675 million shares of REG common stock in exchange for all of Imperium’s assets. For two years after the close of the acquisition, Imperium may receive up to $0.05 per gallon for biodiesel produced and sold at Grays Harbor, according to REG.

REG assumed $5.2 million of Imperium’s debt from Umpqua Bank, which has agreed to provide the newly named REG Grays Harbor, LLC, with an additional loan capacity of up to $5 million to fund capital expenditures and improvements at the facility, REG said. In addition, Imperium retained its net working capital value of approximately $25 million.

Most of Imperium’s employees have agreed to stay on with REG. The Grays Harbor location includes 18 million gallons of storage capacity and a terminal that can accommodate feedstock intake and fuel delivery on deep-water vessels, and it possesses significant rail and truck transport capabilities, REG added. A formal grand opening will be announced at a later date.

Comment On This Story

Comment: (Maximum 10000 characters)  
Leave this field empty:
* Please note that every comment is moderated.


Fleet Faq Fuel Management

Bernie Kanavagh from WEX will answer your questions and challenges

View All


Fleet Tracking And Telematics

Todd Ewing from Fleetmatics will answer your questions and challenges

View All


Fleet Management And Leasing

Merchants Experts will answer your questions and challenges

View All


Alternative Fuel Locator

Use the Alternative Fuel Locator to find stations near you.

Launch Alternative Fuel Locator
Sponsored by

Founded in 1939 by Zollie Frank and Armund Schoen, Wheels is one of the original leasing companies.

Read more