Posts Tagged ‘KIOR’

KiOR denies ex-director’s claims of problems with company’s technology

COLUMBUS — A former director of biofuel maker KiOR says he tried to warn other board members about problems with KiOR’s technology to turn wood chips into an oil substitute, claims that could damage the company’s defense in shareholder lawsuits and a Securities and Exchange Commission investigation. KiOR denies Paul O’Connor’s claims, saying he was […] [...]

KiOR: Money will run out next of money month, bankruptcy possible

COLUMBUS — Struggling biofuel firm KiOR says in a financial filing that it will run out of money by September and that bankruptcy could follow. The company, which built a refinery in Columbus to turn wood chips into synthetic oil, owes Mississippi $69.4 million. The Mississippi Development Authority has agreed to delay payments until the […] [...]

KiOR retains investment bank to explore sale or restructuring

COLUMBUS — Struggling biofuel maker KiOR, deeply in debt to the state of Mississippi and others, says it has hired an investment bank to try to sell or restructure the company. KiOR, based in Pasadena, Texas, announced it had hired Guggenheim Partners in a yesterday stock filing. KiOR’s cash level is unclear, but the company […] [...]

KiOR hires investment bank to explore sale

by Published: July 10,2014

Tags: Business, energy, Khosla, KIOR, Mississippi

JACKSON, Mississippi — Struggling biofuel maker KiOR, deeply in debt to the state of Mississippi and others, says it has hired an investment bank to try to sell or restructure the company. KiOR, based in Pasadena, Texas, announced it had hired Guggenheim Partners in a Wednesday stock filing. KiOR’s cash level is unclear, but the company […] [...]

MBJ July 11th Digital Edition

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MDA grants KiOR forbearance after biofuels maker defaults on payment

by Published: July 10,2014

Tags: Business, energy, Khosla, KIOR, Mississippi

In a sign that biofuel maker KiOR Inc.’s money troubles aren’t letting up, the start-up company will make a $250,000 forbearance payment to the Mississippi Development Authority in exchange for 120 days to get current on its nearly $70 million debt to the MDA. KiOR defaulted on a $1.87 million payment that was scheduled for […] [...]

Biofuel manufacturer KiOR begins layoffs at Columbus plant

COLUMBUS — Biofuel maker KiOR is laying off employees as it idles its Mississippi refinery, intensifying questions about the future of the cash-strapped company. The company said yesterday that it has cut 18 employees. KiOR, based in Pasadena, Texas, said 55 employees remain at the Columbus plant. “Given the company’s limited cash flow, we do […] [...]

KiOR shutting down production at Columbus plant

COLUMBUS — KiOR has halted production at its Columbus plant in December to make improvements and has no plans to resume production during the first quarter of 2014. The company operates a plant in Columbus and plans to open a larger one in Natchez. The legislature approved $75 million in interest-free loans to Kior in […] [...]

Supervisors offer option on land to KiOR for plant

NATCHEZ — The Adams County Board of Supervisors has offered to extend an option on the former Belwood Country Club property to alternative fuel manufacturer KiOR. KiOR previously had a contract signed on a 120 acre-tract of the county-owned Belwood property but the option had expired. Board attorney Scott Slover tells The Natchez Democrat KiOR […] [...]

KiOR starts production at Mississippi biorefinery

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 […] [...]

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