Khosla, Gates Add To KiOR Funding

Biofuels firm KiOR has raised $100 million in financing from Khosla Ventures and Gates Ventures, an investment firm affiliated with Bill Gates, to complete an expansion at its plant in Columbus, Miss. The facility has already begun shipping diesel, gasoline, and heating oil made from wood. Khosla Ventures, an original backer of KiOR, will purchase $85 million in debt and KiOR stock. Gates Ventures has committed to a stock purchase of $15 million. KiOR says the funding infusion will be enough to pay for a doubling of capacity in Columbus and help it achieve positive cash flow from operations in 2015.