(Notícia em Inglês)
US biofuel developer Imperial Petroleum has raised $3.1m through an equity financing round in a private placement to accredited and institutional investors. After expenses, net proceeds for the company were around $2.9m. The company said that it will use the money to increase production at its New Jersey plant by at least 30 per cent.
Jeffrey Wilson, president of Imperial, said, ‘We have been diligently pursuing the re-financing of our senior credit facility at e-Biofuels which has been extended through 31 January 2012, however, the volatility in the capital markets continues to create uncertainty in that outcome.
‘The expansion of our biodiesel production will allow us to more aggressively pay our bank debt down out of cash flow. We believe that by the expiration date of our current credit facility we will have reduced our senior debt to the point where we can more readily secure new financing in the event that another bank extension is unavailable at that time.’
newenergyworldnetwork.com»
US biofuel developer Imperial Petroleum has raised $3.1m through an equity financing round in a private placement to accredited and institutional investors. After expenses, net proceeds for the company were around $2.9m. The company said that it will use the money to increase production at its New Jersey plant by at least 30 per cent.
Jeffrey Wilson, president of Imperial, said, ‘We have been diligently pursuing the re-financing of our senior credit facility at e-Biofuels which has been extended through 31 January 2012, however, the volatility in the capital markets continues to create uncertainty in that outcome.
‘The expansion of our biodiesel production will allow us to more aggressively pay our bank debt down out of cash flow. We believe that by the expiration date of our current credit facility we will have reduced our senior debt to the point where we can more readily secure new financing in the event that another bank extension is unavailable at that time.’
newenergyworldnetwork.com»