KiOR closes on $75M loan to support first biofuels plant
by MBJ Staff
Published: January 29,2012
COLUMBUS — KiOR Inc., a next-generation renewable fuels company based in Pasadena, Texas, has closed a $75 million, four-year term loan with a lender group comprised of an affiliate of Vinod Khosla and two Canadian corporations owned by certain pension fund clients of Alberta Investment Management Corporation (AIMCo).
“This follow-on investment in KiOR reaffirms the continued long-term commitment of two of North America’s most knowledgeable renewable energy investors in light of KiOR’s on-time and on-budget execution of its first commercial facility in Columbus, Miss., KiOR’s continued progress toward yield improvements in its R&D program and prospects for KiOR’s larger, second facility in Mississippi planned to break ground after our Columbus facility is fully operational,” said Fred Cannon, CEO.
“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.”
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- (UPDATE) Prison won’t interrupt ex-prison chief’s retirement cash flow
- 2014 a good year for filmmaking in Mississippi
- JOSH MABUS — Inbound marketing is fueled by wishful thinking
- MARTIN WILLOUGHBY — Doug Dale’s self-awareness helps lift him to top of his game
- PHIL HARDWICK: When Bill Cooley talks, people listen
- Ex-prison boss and businessman admit to bribery scheme
- MBJ Business Woman of the Year Top 10
- Kemper plant employee gag order continued
- ASA postmortem: industrial recruiting is a constant cycle of death and life