Nation’s largest biodiesel company buys rival

Source: Amanda Peterka, E&E reporter • Posted: Friday, August 21, 2015

Renewable Energy Group Inc. has purchased Imperium Renewables, a Washington-based biodiesel company, REG announced yesterday.

REG, the nation’s largest biodiesel company, paid $15 million for Imperium and took control of all its assets, including a 100-million-gallon refinery in Washington. The purchase is the first for Ames, Iowa-based REG on the West Coast.

The purchase will give REG access to West Coast markets, where low-carbon fuel standards are in place or being considered, said company President Daniel Oh.

The facility in Washington, which includes 18 million gallons of storage capacity and a terminal, will be known as REG Grays Harbor LLC. Most of Imperium’s employees have agreed to stay on under the new ownership, according to REG.

Along with paying Imperium in cash, REG issued 1.675 million shares of REG common stock in the deal and assumed $5.2 million of Imperium’s debt.

REG said it plans to hold a formal grand opening of the facility.

With the purchase of Imperium, REG now has 11 biorefineries across the country, including a renewable diesel facility in Louisiana.