KiOR signs offtake agreement with Alabama company
COLUMBUS — KiOR Inc. has signed an offtake agreement with Hunt Refining Company, who has agreed to purchase renewable gasoline and diesel blendstocks and fuel oil produced at KiOR’s first commercial facility to be located in Columbus. Terms were not disclosed.
In addition to the offtake of renewable fuel blendstocks, the two companies have agreed to collaborate on information and resources aimed at optimizing the performance of their products and services. The agreement requires the parties mutually to determine fuel product specifications and contains other terms and conditions.
“Today’s announcement is an important milestone for the development of our commercial facilities in Mississippi, and furthers KiOR’s progress towards the commercialization of gasoline and diesel blendstocks from renewable crude,” said Fred Cannon, president and CEO of Pasadena, Texas-based KiOR. “We’re excited to partner with Hunt to bring our renewable fuels to market and begin reducing the country’s dependence on foreign oil while creating quality jobs and economic development throughout the State of Mississippi.”
“The offtake of KiOR’s renewable gasoline and diesel blendstocks will help us to meet the needs of the nation’s Renewable Fuel Standard,” said Shanmuk Sharma, president of Hunt Refining Company, which is headquartered in Tuscaloosa, Ala. “We’re excited to be working alongside KiOR to help make a meaningful and near-term contribution to reducing greenhouse gas emissions and providing a boost to rural economies.”
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Silver Airways ordered to continue service
- Seafood R’evolution set to make Mississippi ‘the new culinary epicenter of the South’
- Bryant signs controversial abortion ban bill
- Soybean yield more than doubles in less than a decade
- Pharma Pac lays off rest of workers; could end up owing state
- Two Delta groups getting economic development funding
- Plans unveiled for large shooting range on Coast
- Ole Miss launches commitment to be 'climate neutral'
- Yarber could be sworn in today as new Jackson mayor
- Biloxi baseball project still alive but may be held for 2015