The lender group is comprised of an affiliate of Vinod Khosla and two Canadian corporations owned by certain pension fund clients of Alberta Investment Management Corp.
KiOR CEO Fred Cannon said the investment in KiOR reaffirms the long-term commitment of two of North America’s renewable energy investors in light of KiOR’s on-time and on-budget execution of its first commercial facility in Columbus, Mississippi; KiOR’s progress toward yield improvements in its R&D program; and prospects for KiOR’s second facility in Mississippi planned to break ground after our Columbus facility is fully operational.
"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," Cannon said.
KiOR is a development stage, next-generation renewable fuels company that has developed a unique two-step proprietary technology platform to convert abundant and sustainable non-food biomass into gasoline, diesel and fuel oil blendstocks.
