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.”
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