Tag: KiOR

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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: Biofuels Digest’s 2014 5-Minute Guide

Company description: KiOR is a next-generation renewable fuels company that has developed a proprietary technology platform to convert sustainable non-food biomass into cellulosic gasoline, diesel and fuel oil. Using standard refinery equipment, KiOR’s products are compatible with the existing fuel infrastructure. KiOR strives to ease dependence on foreign oil, reduce lifecycle greenhouse gas emissions and […]

February 20, 2014 More

It’s 2014: get cracking!

Hydrotreating, catalytic cracking, pyrolysis, metathesis, supercritical, and catalytic reforming. It’s the big new wave heading for biofuels and biobased chemicals at scale. The secret word in the bioeconomy for 2014 starts with a C. Carbon? Chemicals? Cellulosic? Close, but guess again. Yep, it’s cracking. That is, breaking down the biobased feedstock with heat, pressure and […]

January 29, 2014 More

EPA to reconsider 2013 cellulosic RFS requirements

In Washington, the EPA has announced that it will reconsider the 2013 cellulosic biofuels quotas as new information came forward from the American Petroleum Institute and American Fuel & Petrochemical Manufacturers. “We believe that KiOR’s Aug. 8, 2013, announcement of reduced anticipated production in 2013, which your petition noted, justifies reconsideration of the 2013 cellulosic […]

January 27, 2014 More

Raymond James energy analyst downgrades KIOR, citing “poor visibility” for 2014

In New York, Raymond James energy analyst issued a “tactical downgrade” for KiOR after slashing the share’s value to $2.68 per share from a prior estimate of $5.73. “KiOR’s first production in 2013 marked an important milestone for the company and the cellulosic biofuels industry as a whole. However, inconsistent execution and lack of operational […]

January 13, 2014 More

Condoleeza Rice leaves KiOR board

In Texas, “Due to the demands of other business commitments and personal time constraints,” Condoleezza Rice, Ph.D, has resigned from the Board of Directors of KiOR, Inc. as of December 20, 2013. In a statement, KiOR said “Dr. Rice’s resignation is not due to any disagreement with the Company on any matter related to the […]

December 24, 2013 More

KiOR: record production in Q4; Q1 2014 in campaign mode only to implement mechanical improvements

In Texas, KiOR released the following operational update. KiOR expects that, given current and anticipated operations through the remainder of the year, the Columbus facility will produce approximately 410,000 gallons of fuel during the fourth quarter of 2013, bringing full year production total from the facility to approximately 920,000 gallons. The ratio between gasoline, diesel […]

December 23, 2013 More

KiOR’s CFO John Karnes quits abruptly; concerns for 2014 to blame?

In Texas, KiOR’s CFO John Karnes quit abruptly with an SEC filing on December 1, with very little information provided about his departure. The only clue to Karnes’s departure rests in the third-quarter results, reported a few weeks ago: “Though KiOR reported record fuel production of a tad over 300,000 gallons, it was barely within […]

December 9, 2013 More