First IPO of 2012 is in life sciences field

Renewable Energy Group, a biodiesel fuel company based out of Iowa, will become the first company to go public in the new year.

The Ames-based startup plans to offer 7.2 million shares of common stock on January 19 at an estimated price range of $13 to $15 a share. It expects to raise nearly $101 million overall - about $12 million of which it will use to buy a production facility it currently leases from its shareholders, global agribusiness and food company Bunge, U.S. Renewables and West Central Cooperative, Bloomberg reports. It owns other manufacturing facilities in Minnesota, Texas and Illinois, as well as three partially completed plants in Louisiana, Kansas and New Mexico.

REG, the self-proclaimed largest producer of biodiesel in the country based on gallons made, creates its energy by converting natural fats, oils and greases into advanced biofuels.

The company became cash flow positive during the fourth quarter of 2010, according to The Wall Street Journal. During the first nine months of 2011 it quadrupled its total revenue to $557 million after selling 68 million gallons of biodiesel in 2010. 

A winner of three Practice Innovation awards, KLR has proven to be one of the most effective accounting firms in Boston for a variety of industries. Its Life Sciences team works with biotech and medical device companies to assist with startup services, tax planning and compliance, federal and state tax incentives, and merger preparation.