Search Results for 'kior'

KiOR: company warns of bankruptcy potential; strikes forbearance deal with Mississippi

KiOR, the struggling cellulosic biofuels producer, issued these statements as part of its most recent SEC 10-Q filing: During the first quarter of 2013, the Company commissioned the Columbus facility’s hydrotreater and fractionation units, and made the Company’s first cellulosic diesel and gasoline shipments in March 2013 and June 2013, respectively. During 2013, the Company […]

August 13, 2014 More

KiOR needs capital to continue operating past September

In Mississippi, KiOR said in an SEC filing that it needs additional capital in order to continue operating past Sept. 30. Though how much additional funding wasn’t stated in the filing, it did say the needs were “substantial” to get its Columbus facility back online and fund its second commercial facility.  

August 13, 2014 More

KiOR may sell the company after missing loan payment

In Texas, KiOR said in an SEC statement that it has hired Guggenheim Securities to advise on possibly selling the company after it failed to make a $1.88 million loan payment on June 30. The state of Mississippi has agreed to a loan forbearance on the $75 million loan it received—and still owes $69.4 million […]

July 10, 2014 More

KiOR receives 4-month extension on Mississippi debt

In Mississippi, KiOR has been granted another four months to raise money and resume repaying its $69.4 million debt to the state rather than be forced into bankruptcy with Mississippi seizing its Columbus refinery. The state negotiated a short-term forbearance agreement with KiOR under which the company will pay Mississippi $250,000, and the state will […]

July 7, 2014 More

KiOR starts laying off workers at Mississippi facility

In Mississippi, KiOR has begun laying off employees at its plant in Columbus, saying it is instead focusing on R&D. So far, 18 employees have been laid off, leaving 55 currently on site but more layoffs are expected to come over the next two months.  

June 19, 2014 More

KiOR update: “We do not believe we can restart the Columbus facility on an economically viable basis at this time.”

The following is excerpted from KiOR’s most recent 10-Q quarterly report, as filed with the SEC. “We have substantial doubts about our ability to continue as a going concern. To continue as a going concern, we must secure additional capital to provide us with additional liquidity. On March 31, 2014, we entered into a Senior […]

May 13, 2014 More

Khosla commits to up to another $25 million for KiOR

In Texas, Vinod Khosla has agreed to fund KiOR in $5 million per month installments for up to $25 million while the company works to secure further financing and keep its doors open. The company’s stock reacted positively on the news and edged towards $1 a share.

April 2, 2014 More

As KiOR stumbles, Aemetis soars: what made the difference?

Is it just coincidence that KiOR’s stock is down sharply as Aemetis has been on a tear?   Just a lucky break for ethanol based on attractive “crush spreads”? Or something important about the strategy and how it has played out? The Digest looks at the companies and the results. On a clear morning last […]

March 19, 2014 More

KiOR announces $347M loss for 2013: “We have substantial doubts about our ability to continue as a going concern.”

Delayed 2013 results includes going concern statement. Future Khosla financing contingent on milestones. Default looms as soon as April. Financing after August unclear. In Texas, KiOR announced a $347.5M net loss for 2013, and issued a “going concern” statement that focused on its ability to raise future capital to sustain operations and build its next […]

March 17, 2014 More

KiOR: Transformative Technologies 2014 nominee, “Transformative inorganic catalyst”

This is the official Transformative Technologies 2014 nominee page for KiOR , nominated in the “Transformative inorganic catalyst” category. Voting Rules All voting is exclusively via social media this year. To vote, simply click on the Tweet, Like or Share link in on this page. Each tweet, like or share will count for one vote. Please […]

March 9, 2014 More