Ucilia Wang: March 12, 2009, 4:09 PM

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Imperium Renewables Lays Off More Than Half Its Staff

Imperium Renewables, a biodiesel producer in Seattle, said it’s cut 24 people from its payroll. That represents “more than half� of the company’s workforce, said company spokesman John Williams. The company declined to disclose its total employee count.

The company said the recession has greatly reduced market demand for all types of fuels, prompting it to reduce its workforce. Fossil fuel prices have fallen sharply from a year ago, making it tough for biofuel makers to compete.

A recent vote by the European Union to impose a tariff on U.S.-made biodiesel also has had a crushing effect on the industry, Imperium said. The E.U. took the action after European biodiesel producers complained that U.S. biodiesel makers were offering cheaper fuel because they could take advantage of a U.S. tax credit.

Imperium had struggled to execute some of its plans before the global economy began to crumble quickly six months ago, however. It postponed an initial public offering, carried out two rounds of layoffs, closed its office in Hawaii and delayed the building of a refinery in Hawaii. The company still operates a refinery at the Port of Grays Harbor in Washington state, Williams said.