KiOR Gets $25 Million to Stay Afloat

Steve Rogers

Assistant News Director/Assignment Editor; degree in finance and administration from Yale University; 35 years experience in journalism.

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1 Response

  1. Lindsay Leveen says:

    This article is misleading. KIOR’s IPO was at $15 not $5 per share. The money that Gates and Khosla put into KIOR in October was not $100 million it was a commitment for $100 million but $50 million was put in. Now let’s focus on the $5 million Khosla will actually give KIOR this month. This will keep it going for a month and then Khosla will see if he gives it another $5 million a month going forward to August. The Company wrote down the plant in Columbus to approximately $40 million from a cost of $225 million because the plant is impaired and cannot produce nameplate of 13 million gallons a year. It can only produce about 2 million gallons a year. KIOR has no hope at this level of production and hence the story they have concocted to say they will work on improving technology while the plant is shut. They have had almost 7 years to work on technology. The fat lady is on her way to Columbus and is ready to sing.

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