26 September 2013 16:20 [Source: ICIS news]
HOUSTON (ICIS)--KiOR is pursuing a $225m (€167m) project to build a second cellulosic fuel plant that would double capacity at its site in ?xml:namespace>
The company has received an aggregated commitment of up to $50m from US-based capital firm Khosla Ventures and businessman Vinod Khosla.
KiOR will break ground on Columbus II within 90 days of raising sufficient equity and debt capital, with construction and start-up expected to take 18 months.
The project would enable KiOR to more quickly make progress toward its long-term goal of 92 gal (348 litres) of hydrocarbon fuels per bone dry ton of biomass, or over 150 gal of ethanol equivalent.
KiOR expects the improvements in its technology to facilitate the use a wider range of less expensive feedstocks, such as railroad ties.
“Through the Columbus II project, we plan to achieve significant operational and technological synergies between the two Columbus facilities, as we expect to incorporate our most recent technology developments into both the new Columbus II facility and retroactively to the existing Columbus facility, thereby improving facility economics for both Columbus I and II,” said Fred Cannon, CEO at KiOR.
Earlier this month, KiOR announced that its 2013 production total at the
Meanwhile, the company is expecting to break ground on its standard-scale commercial production facility in
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