Kior makes million dollar loss

Kior, a renewable fuels company, says it made net loss of $64 million (€48 million) in 2011, which was more than the $46 million loss it made the year prior.

The company did not make any revenue throughout last year because it was investing in the construction of its first commercial facility in Columbus, Mississippi, as well as into R&D which it hopes will improve the production yields for its biofuels developments.

Even though these figures are not positive, the company is looking to finance an expansion and has already hired more staff and increased its testing activities.

In the fourth quarter of 2011 alone, R&D expenses for Kior were $8.5 million, which was a $1.5 million increase on the same period the year before.

Total expenses for 2011 hit more than $31 million, which was a rise on the $22 million it spent in 2010, and general and administrative expenses for the year were $23 million alone, a $15 million increase on 2010’s results.

However, throughout the fourth quarter of 2011, Kior invested more than $44 million into its new commercial production facility.