- Associated Press - Wednesday, August 5, 2015

SEATTLE (AP) - An Iowa-based biofuel producer has agreed to buy almost all of Imperium Renewables’ assets.

The Seattle Times reports (https://bit.ly/1T2sge6 ) that Renewable Energy Group as agreed to pay the operator of a Grays Harbor biodiesel plant $32 million in cash and stock.

The deal also includes a 5-cents-per-gallon payment for biodiesel from Imperium’s facility that is sold for two years after the acquisition.

Imperium’s Hoquiam facility will be renamed REG Grays Harbor. REG Chief Executive Daniel Oh said in a statement that the company will keep the existing employees at the plant.

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Information from: The Seattle Times, https://www.seattletimes.com

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