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Renewable fuels company KiOR closes $75M loan

Renewable fuels company KiOR, Inc. (earlier post) has closed a $75 million four-year term loan with a lender group comprising an affiliate of Vinod Khosla and two Canadian corporations owned by certain pension fund clients of Alberta Investment Management Corporation (AIMCo).

The additional capital de-risks KiOR’s near-term business plan, decreases KiOR’s dependency on volatile capital markets and allows additional front-end engineering work on our second facility.

—Fred Cannon, CEO

KiOR is a development-stage company commercializing a two-step catalytic pyrolysis technology platform to convert non-food biomass into gasoline, diesel and fuel oil blendstocks. KiOR’s blendstocks may be transported using existing distribution networks and are suitable for use in vehicles on the road today.

Comments

ejj

I wonder what part of this $75 mil is tax dollars from Range Fuels that were never paid back?

"By the time the project folded, federal taxpayers had invested about $84 million and gotten $2 million back. Of that total, $44 million was in the form of a U.S. Department of Energy grant (originally approved for $76 million). The rest was the Department of Agriculture loan guarantee, which was originally approved for $64 million."

http://www.macon.com/2011/12/18/1828816/green-gamble.html

SJC

We will never get paid back for the money borrowed and wasted on war. We will continue to pay with interest and have no benefits what so ever.

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