KiOR In Desperate Financial Straits

Cellulosic biofuels firm KiOR may go bankrupt as early as April 1, according to a filing with the Securities & Exchange Commission. In January, KiOR executives said the company was working on plant upgrades and improved catalysts to increase yield at its first commercial-scale facility, in Columbus, Miss. The firm hasn’t produced fuel at the plant so far this year and now says it has suspended further optimization work. KiOR is working with its major backer, venture capitalist Vinod Khosla, on obtaining $50 million in financing. Even if that were successful, the firm would only have enough cash to last through the end of August. KiOR reported a 2013 full-year net loss of $347 million.