The company said the additional capital de-risks its near-term business plan, and decreases its dependency on volatile capital markets.
KiOR CEO Fred Cannon said this follow-on investment in KiOR reaffirms the long-term commitment of two of North America’s most knowledgeable renewable energy investors in light of KiOR’s execution of its first commercial facility in Columbus, Mississippi; its progress toward yield improvements in its R&D program; and prospects for KiOR’s second facility in Mississippi planned to break ground after its first facility is fully operational.
KiOR is a development stage, next-generation renewable fuels company and it has developed a two-step proprietary technology platform to convert abundant and sustainable non-food biomass into gasoline, diesel and fuel oil blendstocks.
