KiOR starts production at Mississippi biorefinery
by Associated Press
Published: November 8,2012
JACKSON — Alternative fuel firm KiOR says it started production in October in Mississippi and plans to make its first commercial shipment before November’s end.
Based in Pasadena, Texas, KiOR built a $222 million refinery in Columbus, Miss., to extract the equivalent of light crude oil from wood chips. It refines the oil into gasoline and diesel fuel.
KiOR said researchers have found a way to increase how much oil it can extract from wood.
The company reported third-quarter financial results, saying it lost $27 million, or 26 cents per share, during the period. KiOR lost $66.7 million, or 64 cents per share, in 2011′s third quarter. The company didn’t report any revenue during either quarter
Analysts expected a loss of 26 cents per share, on average.
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