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.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Peavey's wellness program honored after workers drop 1,000 pounds
- Pickering lists concerns over Mississippi Adequate Education Program formula
- Group, lesbian couples look to overturn state's ban on same-sex marriages
- Watkins says JRA out to block him from Farish by repaying HUD $1.5M
- Mississippi Film Studios signs contract with New Orleans company
- State renews battle over water use with city of Memphis
- Mars Food expanding Delta plant; investing $31M and adding jobs
- DAVID DALLAS: You say “Obama”, I say “Ebola”
- Biloxi baseball project still alive but may be held for 2015