Impressive Imperium?

Here's what I like about Imperium Renewables, the Seattle based manufacturer of biodiesel products:

• They're well funded: To the tune of $214 million last February. According to Clean Edge, the equity round is one of the largest private equity investments in a US-based biodiesel company, and one of the top five single investments in a renewable energy company ever. The money is earmarked for plant development aimed at boosting capacity.
  
• Blended skills: Management has a blend of start up and energy experience. CEO Martin Tobias comes from Microsoft, digital media start ups, and (most recently) venture capital firm Ignition Partners. President John Plaza has the background in biofuels that is complemented by an advisory board comprised of chemical and petroleum experts.
  
• A better (though maybe not best) fuel source: Imperium forged a relationship with Washington state-based grower Natural Selection Farms to supply enough canola to produce 1 million gallons of biodiesel. With a yield potential of about 140 gallons per acre , canola far outstrips traditional sources such as soy (~48 gallons per acre). Only palm oil and algae have more potential (see earlier post). The fact that the oil comes from a local producer only increases the efficiency of the product.
  
• Friends in the right places: Speaker of the House Nancy Pelosi recently stopped by for a visit. Can't hurt, right?

Plans for expansion are progressing, as plans for plants in Argentina and Hawaii have been submitted and are awaiting approval.