Blog Post

Biofuel company Kior starts layoffs

One of Kior's facilities. Image courtesy of Kior.
One of Kior’s facilities. Image courtesy of Kior.

Local media around Columbus, Mississippi are reporting that biofuel company Kior has started laying off workers at its Columbus-based plant, which hasn’t been in operation for more than six months. The company has close to $300 million in debt (more than $69 million to the Mississippi Development Authority) and has estimated that it has until the end of August to find new financing to help restart the plant before potentially facing bankruptcy. The stock was down to $0.36 cents per share on Friday afternoon. For the full story on Kior check out my reporting from March.

One Response to “Biofuel company Kior starts layoffs”

  1. Alice Gentry

    Everything Vinod puts his money into re: BioFuel becomes a bust. He cannot fathom anything chemical such as converting wood chips to more OIL. I think he should go back to his home country of India and leave California beaches to surfers!