On March 18 KiOR Inc. announced the initial shipment of cellulosic diesel from its commercial-scale plant in Columbus, Miss. On the same day, the company reported financial results for the fourth quarter of 2012 as well as the entire fiscal year. According to the financial release, KiOR recorded its first revenues since inception during the fourth quarter 2012.
Fred Cannon, KiOR’s president and CEO, called the cellulosic diesel shipment a major step forward for his company, the biofuels industry, and the renewable fuels sector. “With first production at Columbus, KiOR has technology with the potential to resurrect each and every shut down paper mill in the country and to replace imported oil on a cost effective basis while creating American jobs,” he said. “This facility demonstrates the efficacy of KiOR's proprietary catalytic biomass-to-fuel process with the potential to deliver cellulosic gasoline and diesel to the U.S. We are proud to be making history in Mississippi. The technology is simply scalable and we believe sufficient excess feedstock exists in the Southeast alone to build almost fifty KiOR commercial scale facilities."
Cannon added that the U.S. EPA’s recent actions to qualify cellulosic gasoline for the renewable fuel standard (RFS) market and increase the gasoline blend rate to 25 percent have de-risked KiOR’s business strategy and created a market for the company’s hydrocarbon fuels that is nearly twice the size of the current ethanol market.