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Proudly serving leading refiners , chemical manufacturers , and distributors , IMTT ’ s years of experience as an industry leader enable it to respond to clients ’ needs . In December 2020 , the company was sold to Riverstone , a global private equity firm with over $ 40 billion of assets under management .
Future focus
We caught up with Carlin Conner , Chairman & CEO , to discuss IMTT ’ s evolution over the past three years . “ We believe the bulk liquid storage industry will play a crucial role in global decarbonization as well as continuing to serve legacy petroleum . Our mission is to continue to provide a safe and reliable service to our existing customers and identify opportunities to contribute to the global decarbonization effort by supporting sustainable , less carbon intensive energy sources ,” he begins .
“ Since we took over IMTT we have reinvested over $ 400 million in our ‘ Greener and Cleaner ’ program . This is a strong , action-based strategy that focuses on reducing our legacy footprint while growing our renewable and clean fuels . We ’ re investing today to put sustainability at the heart of our business and adapt our infrastructure to alternative sources of energy , including all bio fuels like ethanol and the feedstocks required to make renewable fuel products , among others .
“ As we think about moving forward , we have projects that we ’ re working on that leverage our expansive waterfront capabilities while utilizing available land in locations where feedstocks are readily available . In addition to our renewable fuels growth we are also working with companies developing energy transition products like blue ammonia . On the renewable fuels front , we have an ongoing project at our Geismar facility , which is upriver from New Orleans , where we have contracted with a multinational oil company to receive and handle renewable diesel feedstocks produced at their plant , building six new tanks and dock related infrastructure . We will deliver the feedstock via pipeline to their renewable diesel plant and receive finished renewable diesel back for distribution to the market . That ’ s a notable project , north of $ 100 million and is a mirror image of a project that we commissioned last year at our St . Rose Terminal .
“ Additionally , we just completed a project for a major methanol producer , where we built more methanol storage for them , including some dock infrastructure . We continue to support our existing customer
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