Umpqua Expands Imperium Renewables Working Capital Facility
Imperium Renewables announced a new lending agreement with Umpqua Bank that will provide Imperium with an additional $10 million in working capital to fuel its growth.
This modification of a 2012 agreement increases Imperium’s working capital from Umpqua to $20 million while maintaining the company’s revolving line of credit with the bank.
“Umpqua Bank’s knowledgeable team continues to find smart, flexible financing solutions that Imperium needs,” said John Plaza, president and CEO of Imperium Renewables. “These resources will help us continue to grow and diversify our operations in biodiesel production and sales.”
“Imperium Renewables is a proven leader in the industry, and is uniquely poised for further growth,” said Danielle Burd, Umpqua Bank’s executive vice president and director of client relations. “We’re pleased to expand this partnership – and to provide access to capital that allows them to diversify and grow.”
Seattle-based Imperium Renewables develops proprietary technology and processes to produce biodiesel.