KiOR lands $1B loan guarantee term sheet from DOE for pyrolysis projects

In Texas, KiOR announced that  it has received a term sheet for a loan guarantee supporting  over $1 billion biofuels project from the U.S. Department of Energy’s Loan Guarantee Program.

The project would convert wood biomass into drop in biofuels such as gasoline and diesel fuel. KiOR’s project under the DOE loan guarantee program will consist of four biorefineries that will contribute approximately 250 million gallons of cellulosic biofuel to the Renewable Fuel Standard. The first two plants are expected to be in Mississippi, with additional sites planned in Georgia and Texas.  This represents one step in a chain of steps needed to finalize the loan guarantee, and as the press release notes, there is no guarantee of a successful application.

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