Tag: KiOR

KiOR: The inside true story of a company gone wrong. Part 3, “You’ve Cooked the Books”

KiOR: The inside true story of a company gone wrong. Part 3, “You’ve Cooked the Books”

August 3, 2016 |

Our story so far KiOR was hanging by a thread as the summer of 2010 commenced. In a few days, the first recorded visitors to Pasadena demo unit, representatives of the Mississippi Development Authority, were expecting to see the demonstration unit in action. The company was beginning to hurtle towards an IPO. But the fuel […]

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KiOR: the inside true story of a company gone wrong, Part 2

KiOR: the inside true story of a company gone wrong, Part 2

May 18, 2016 |

Note. This is Part 2 of our series on the inside true story of KiOR. In part 1 of our series, here, we explored: the formation of BIOeCON and KiOR, the problem of too much oxygen and coke, the entry of Khosla Ventures, and the loss of a CEO. Also, “a recipe for technical failure”, disastrous pilot […]

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KiOR: The inside true story of a company gone wrong

KiOR: The inside true story of a company gone wrong

May 17, 2016 |

Not long ago, KiOR quietly re-named itself Inaeris Technologies and launched a modest website which discussed the technology and management in little detail, but focused to an extraordinary extent on a declaration of values. Empowerment, honesty, fairness, “lessons learned from our collective experience” and so on. Warm, kindly Hallmark Card sentiments, universally popular, admired and […]

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Delays by companies who bought KiOR equipment hindering site investment

Delays by companies who bought KiOR equipment hindering site investment

May 17, 2016 |

In Mississippi, Georgia Renewable Power and Renewable Energy Group have been slow in removing the equipment they bought at auction in October from the former KiOR facility which is hampering sale of the site to foreign investors from Russia, India and another Asian country who individually want to take it over. The equipment was meant […]

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KiOR pays off back taxes with revenues from equipment sales

KiOR pays off back taxes with revenues from equipment sales

October 19, 2015 |

In Mississippi, KiOR has made good on the $1.1 million in back taxes it owed to local authorities, nine months late and eventually assessed with a 1% late payment fee. The funds will be split almost evenly between the local school district, the county and the city of Columbus where the facility is located. The […]

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Renewable Energy Group acquires KiOR hydrotreater, distillation column, tankers for $1.5M

Renewable Energy Group acquires KiOR hydrotreater, distillation column, tankers for $1.5M

October 6, 2015 |

Remainder of the production plant goes to auction next week In Iowa, a subsidiary of Renewable Energy Group has received approval from a Mississippi court to purchase certain equipment at the KiOR Columbus, LLC production facility. Under the approved asset purchase agreement, REG Synthetic Fuels, LLC paid $1.5M, plus certain expenses related to equipment preparation, […]

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Judge allows KiOR Columbus plant to sell off pieces with REG and chipmakers first up

Judge allows KiOR Columbus plant to sell off pieces with REG and chipmakers first up

October 5, 2015 |

In Mississippi, REG Synthetic Fuels is paying $1.5 million for refining equipment from the former KiOR biofuel plant in Columbus while Georgia Renewable Fuels is paying an undisclosed price for wood-processing equipment after a judge approved the sales. GNF is waiting for court permission to locate its wood chipping plant either at the site of […]

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US Bankruptcy Court OKs KiOR Chapter 11 $29 million exit facility

US Bankruptcy Court OKs KiOR Chapter 11 $29 million exit facility

June 9, 2015 |

In Delaware, a US Bankruptcy Court judge has ruled just a day after finding that KiOR’s bankruptcy plan had too many milestones attached to its $29 million exit facility to go ahead, that the new Chapter 11 plan without said milestones is just fine. The Mississippi Development Authority was pushing to get the Chapter 11 […]

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Bankruptcy hearings continue in KiOR case this week

Bankruptcy hearings continue in KiOR case this week

June 8, 2015 |

In Delaware, hearings resume this week in the US Bankruptcy Court in Wilmington for KiOR’s bankruptcy case where the Mississippi Development Authority is trying to keep the company’s bankruptcy restructuring plan from getting approved. The MDA wants the company to be converted to Chapter 7 from Chapter 11.

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Trustee doesn’t believe KiOR will have enough money to be viable post Chapter 11

Trustee doesn’t believe KiOR will have enough money to be viable post Chapter 11

May 27, 2015 |

In Delaware, Acting U.S. Trustee Andrew Vara says KiOR shouldn’t be allowed it implement its bankruptcy reorganization plan to leave Chapter 11, saying it won’t have enough money to be a viable business. According to the plan, the company will have $30 million in exit financing with about $7 million going to creditors and $10 […]

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