KiOR–a Texas-based biofuels company with a plant in Columbus, Miss., which received a $75 million interest-free loan from the state–appears to be putting its plans for a facility in Natchez on hold. Instead, it is considering to build a second plant in Columbus first, the Natchez Democrat reports.
The Natchez plant was supposed to be three times the size of the current Columbus plant. Adams County has already awarded a $522,673 contract as part of a plan to build a levee that would protect the future site of KiOR’s Natchez facility from the Mississippi River. The county has estimated the cost of that levee at about $5 million.
Earlier this month, KiOR had reported a second quarter 2013 net loss of $38.5 million. Losses for the first quarter of 2013 were $31.3 million, and $23 million for the second quarter of 2012.
KiOR went public in June 2011 at around $15 per share. Stock has plummeted and is now $2.79 per share.
>> See Bigger Pie Forum’s KiOR fact sheet
>> Read Bigger Pie Forum’s previous coverage of KiOR