West Seattle-based General Biodiesel completes refinery purchase

June 25, 2009 11:33 am
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Announced by West Seattle-based General Biodiesel:

SEATTLE, WA (June 24, 2009) –General Biodiesel Seattle, LLC announces today that it has completed the acquisition of the former Seattle Biodiesel facility, a Seattle-based commercial
biodiesel refinery, from Imperium Renewables, Inc. General Biodiesel is converting the facility
to produce biodiesel from waste oils such as recycled cooking oil and animal fat, which the
Company collects from restaurants and grocery stores around the region.

Yale Wong, CEO and founder of General Biodiesel, commented that “the mission of General
Biodiesel is to produce high-quality biodiesel fuel from locally generated waste at a competitive
price. The acquisition of this plant enables General Biodiesel to deliver a locally produced
renewable fuel source that will measurably reduce total carbon emissions in the State of
Washington, reduce our dependency on foreign oil, and build a stronger regional economy by
creating green jobs in the community.”

John Plaza, who founded Seattle Biodiesel (now Imperium Renewables) and built the plant, said
“It’s great to see our site being put to continued good use as a biodiesel production facility. We
are happy to have General Biodiesel as the new owners of our original facility. They are a great
example of innovation and leadership in renewable and clean energy in our state.”

Simultaneously with the plant acquisition, General Biodiesel closed on an equity financing
arranged by Swiftsure Securities, LLC, a Seattle-based merchant bank. “Swiftsure has looked at
the biofuels sector for several years now and General Biodiesel represents one of strongest
business models we’ve seen. General Biodiesel’s vertically integrated model of collecting local
waste, producing biodiesel locally and selling to local fleets is the future of the biofuels
industry. The fundamentals of the business are sound, and General Biodiesel is well-positioned
to be a leader in the category,” added Gordon Gardiner of Swiftsure, who will join General
Biodiesel Seattle’s Board of Directors.

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