Kior defy value loss to plough on with biomass facilities

US-based transportation fuels producer Kior has begun production at its first commercial facility in Mississippi.

It is believed the plant, once running at full capacity within the next 12 months, will be able to produce almost 50 million litres of petrol and diesel per year.

Kior will be using a mixture of biomass, like non-food crops and woodwaste, as part of the manufacturing process.

Despite losing almost half its market value since an initial public offering back in June, which raised $150 million (€117.7 million), Kior is planning construction of another plant that will be three times bigger than this one.