Friday, February 04, 2011

DOE readies loan guarantee to Kior

CNET reports:

Biofuel company Kior said yesterday it is close to securing a $1 billion loan guarantee from the Department of Energy to build plants to make fuels from wood. (...)

nvestor Vinod Khosla said that the plants will create jobs in rural areas, particularly people who used to work at mills.

WTVA reported:

Officials from KiOR say they will be moving forward with the U.S. Department of Energy's Loan Guarantee Program.

The biofuels company released a statement Thursday saying it has received a term sheet for the loan guarantee.

Under the loan guarantee program, KiOR will build four biorefineries that will produce 250 million gallons of biofuel for the Renewable Fuel Standard.


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