More troubles at Imperium with Hawaii contract in the balance

In Washington state, trouble at Imperium Renewables worsened as the nation’s largest biodiesel plant, currently shut down, faces the prospect of losing its largest potential customer, Hawaiian Electric. Originally, Imperium intended to develop a Hawaii-based plant with proceeds of its cancelled IPO. The Hawaii Public Utilities Commission has not signed off on the backup plan, to deliver biodiesel made from Malaysian palm oil at its 100 Mgy Grays Harbor, WA facility; consumer groups are protesting the use of offshore biodiesel, and “a shocking lack of due diligence in assessing the contract” according to one opponent. Meanwhile, Imperium has raised funds from current investors, paid down debt, and engaged a debt-restructuring company to help with cash flow.

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