Imperial Petroleum raises $3.1M for biodiesel expansion in Indiana

In Indiana, Imperial Petroleum announced it has entered into definitive agreements with accredited and institutional investors to raise an aggregate of $3.1 million before fees and expenses in a private placement of equity securities. Proceeds will be used to expand biodiesel production at Imperium’s Middletown facility from approximately 34 MGy to 40 to 45 MGy.