Umpqua to provide up to $20M in capital to Imperium Renewables

In Washington state, Umpqua Bank and Imperium Renewables have entered into a lending agreement through the bank’s GreenStreet Lending program, to provide Imperium Renewables with a flexible approach to gaining working capital up to $20 million through a combination of a working capital and revolving lines of credit. Working capital supplied by Umpqua will position Imperium Renewables to optimize production at its BQ-9000 certified biodiesel facility, the largest of its kind in the Western U.S. Opened in August 2007 in Hoquiam, Wash., the facility is capable of producing up to 100 million gallons of biodiesel annually.

“Umpqua Bank’s highly involved and knowledgeable team impressed us with their commitment to finding a flexible and creative solution for our financing needs and to investing in sustainable businesses,” said John Plaza, president and CEO of Imperium Renewables. “We now have access to a full range of competitive products and services that are a good fit for our current operating needs – and also anticipate our needs as we grow.”

“Imperium Renewables is an innovative leader in an exciting industry, and is well positioned to expand its market opportunities,” said Danielle Burd, Umpqua Bank’s executive vice president of commercial banking for Washington state. “Through this partnership, Umpqua is providing access to capital that will enable Imperium to take steps to maximize its production capacity, improve on its revenue stream and generate a greater return on shareholder investment. This is a critical part of Umpqua’s role as a community bank and we’re pleased to open up the capital resources that will facilitate the company’s growth.”