KIOR, Inc., the Pasadena, Texas-based cellulosic fuels company that filed its IPO prospectus in April 2011, said Thursday it has priced its offering at $15 per share and will offer 10 million shares to the public and another 1.5 million shares to its underwriters as over-allotment options -- bringing the total proceeds to $172.5 million.
Renewable fuel company KiOR, Inc. has moved one step closer to producing biofuels for Chevron Corporation.
Kior, Inc., which began construction in Q1 2011 on a $190-million commercial-scale plant to convert Southern Yellow Pine chips into renewable crude oil and diesel, has filed a $100 milion Initial Public Offering with the U.S. Securities and Exchange Commission (SEC). Kior, based in Pasadena, Texas, is 74.5% owned by Silicon Valley venture capital firm Khosla Ventures.
Hundreds of companies are pursuing different technologies and strategies they believe will yield a winning next-generation biofuel. To increase its odds of backing a winner, Khosla Ventures has made no less than nine investments in this sector.