KiOR signs another offtake agreement for Columbus plant
COLUMBUS — KiOR Inc., a renewable fuels company, and Catchlight Energy, LLC (CLE), a 50-50 joint venture between subsidiaries of Chevron Corporation and Weyerhaeuser Company focused on providing liquid transportation fuels from sustainable forest-based resources, announced they have signed a conditional offtake agreement for CLE to purchase gasoline and diesel fuel blendstocks from KiOR’s first commercial production facility in Columbus.
Terms were not disclosed.
“This offtake agreement is the latest development in KiOR’s progress to commercialize renewable transportation fuels,” said Fred Cannon, President and CEO of KiOR. “When finalized, our agreement with Catchlight Energy will help bring KiOR’s renewable fuels to market so we can help diversify the country’s energy sources.”
CLE’s purchase of products is contingent on, among other things, satisfaction of product specification criteria and RIN certification of the products as cellulosic biofuels under the U.S. Renewable Fuel Standard. The companies have also signed a testing and optimization agreement to optimize the compatibility of KiOR’s blendstocks with Chevron’s facilities.
This is the second offtake agreement KiOR has signed for its Columbus facility, having announced an agreement with Hunt Refining Company in March 2011. KiOR expects to begin production at its Columbus facility in the second half of 2012.
Source: KiOR Inc.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Alcorn president launches new customer service task force
- NEW IN MADISON COUNTY — Mississippi Bio-Medical Business Collaboratory to be introduced Friday
- David Duval, former British Open winner, joins Sanderson Farms field
- Court rules against Greenwood councilwoman; must give up office
- GreenTech holds grand opening of neighborhood electric vehicle plant
- Turner Grain’s bankruptcy will help consolidate lawsuits alleging breach of contract
- Cochran continues to reach out to African American voters
- Peoples Bank reports quarterly loss due to bad loans
- Senators write letter over Waters of the United States proposal