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
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Officials set hunting dates for birds; expands dove season by 20 days
- Ex-state employee gets jail time for embezzling from school
- Madison's Christmas on Ice will not take place this year
- SPECIAL REPORT: Land may hold key to Jackson airport’s success
- Ex-judge disciplined, but not barred, by Supreme Court
- Gunn: State's GOP needs to heal after Senate primary battle
- Bank welcomes Little
- SPECIAL REPORT: A savvy pro is sought for Jackson airport's CEO
- USM Foundation sees second-highest fundraising total in history