Imperium falters on big plans for spring

Imperium Renewables, the West Coast’s largest biodiesel producer, cut back its corporate work force just weeks after Martin Tobias stepped down as chairman and CEO. Seattle-based Imperium named founder and president John Plaza interim CEO and assigned director Nancy Floyd, managing director of San Francisco–based venture capital firm Nth Power, chairman of the board.

The company filed plans in May for a $345 million initial public offering but, citing poor market conditions, has postponed the stock sale.
Imperium is maintaining its work force at its Grays Harbor plant, which can produce 100million gallons of biodiesel a year.

Sacramento-based Pacific Ethanol Inc. announced in late December it delayed construction of an ethanol plant near Calipatria, Calif.,
also faulting current market conditions. Meanwhile, Ethos, an ethanol startup based in Cambridge, Mass., raised an undisclosed amount of financing from Khosla Ventures and GreatPoint Ventures. The company reportedly has its sights set on developing sugarcane-based ethanol projects in Central America, Latin American and the Caribbean.