19 September 2013 23:34 [Source: ICIS news]
HOUSTON (ICIS)--KiOR produced almost 172,400 gal (653,500 litres) of biofuel in July and August at its facility in Columbus, Mississippi, bringing the 2013 production total at the site to over 357,500 gal, the US renewable fuels producer announced on Thursday.
Production during the two months exceeded the second-quarter amount by nearly 40,000 gal, KiOR said.
The production ratio for July and August equalled to approximately 83% gasoline and diesel, with the remaining as fuel oil.
“With the BFCC [biomass fluid catalytic cracking] section of the Columbus facility currently producing additional oil, we believe that we are well-positioned to build on the progress made during July and August and to produce additional volumes of cellulosic fuel for American vehicles consistent with our most recent guidance,” said Fred Cannon, CEO of KiOR.
The company is amidst a federal class action lawsuit alleging that KiOR and its officers violated US securities law and misled investors about the business and its operations.
KiOR had projected that second-quarter fuel production at the facility would be 300,000-500,000 gal, but later, the company announced production reached only 75,000 gal.
Follow Tracy on Twitter
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections