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Spokane, Washington  Est. May 19, 1883

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Avista’s stake in Inland Empire Bioseeds plant comes to less than 1 percent

A Sunday business story about a bankruptcy filed by the managers of Inland Empire Bioseeds LLC mentioned in passing that Avista Corp. was a minority stakeholder in the for-profit operation. The plant is in Odessa.

What we didn't have at the time of publication was the amount of investment made by Avista in that project, which began making commercial biodiesel out of canola oil in 2009. It had the goal of producing 8 million gallons of fuel per year.

We tracked down Jessie Wuerst, who handles investor relations at Avista to get some information on the investment. Her answer is that Avista is an immaterial investor, meaning its shares come to less than 1 percent of the total.

It's also likely that Avista is among the creditors who together comprise about $2.6 million in unsecured debt.

The Spokesman-Review business team follows economic development in Spokane and the Inland Northwest.