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Jim Lane | June 13, 2011 ShareIn Texas, KiOR said that it now expects to raise $190-$241 million in its IPO. The company indicated in an amplified registration statement with the SEC that it expects to sell up to 11.5 million shares (including over-allotments, if sold) between $19 and $21 per share. The IPO originally aimed to raise $100 million, but was boosted earlier this month to a maximum of $200 million.
Credit Suisse, UBS and Goldman Sachs are running the offering for the pyrolysis-based biofuels company, backed by Vinod Khosla.
In an unusual feature of the IPO, 13 shareholders who participated in the company’s Series A and Series B capital rounds will retain up to 95% of the voting rights while retaining 61% of the stock.
Another unusual feature: “Khosla Ventures II, L.P. has agreed not to sell any of the 46,259,738 shares of our common stock that it beneficially owns, representing approximately 47% of our outstanding common stock immediately prior to this offering, for a period of 360 days after the date of this prospectus.”
http://biofuelsdigest.com/bdigest/2011/06/13/kior-raises-target-to-241m-from-upcoming-biofuels-ipo/
Meghan Sapp | June 13, 2011
Washington, after several months of increasingly smaller ethanol production volumes, US producers have again begun to pick up the pace producing 915,000 barrels during the week ending June 3, the highest volume since late January. At the same time, the Energy Information Agency is also reporting that stocks have fallen by more than half a million barrels to 19.64 million, indicating that demand is picking up but production is still about 7 million bushels of corn worth per week less than USDA estimates.
http://biofuelsdigest.com/bdigest/2011/06/13/us-ethanol-production-hits-five-month-high-in-june/
By Andrew Herndon - Jun 2, 2011
Laidlaw Energy Group Inc. (LLEG), a New York-based power-plant developer, agreed to buy a 14-megawatt biomass facility in California.
Laidlaw plans to invest about $20 million to upgrade the Susanville plant over the next 12 months, the company said today in a statement that did not disclose the price.
The seller is Renegy Holdings Inc. (RGYH), which is partly owned by the French renewable energy company Hanalei Renewables. Both companies will become equity holders in Laidlaw and will be issued a new class of preferred shares. Laidlaw is negotiating a 20-year to 30-year power-purchase agreement.
http://www.bloomberg.com/news/2011-06-02/laidlaw-to-acquire-14-megawatt-biomass-project-in-california.html
R&D
Deinove rakes in $2.38M after reaching cellulosic ethanol milestone
// Biofuels Digest
Jim Lane | May 31, 2011
France, Deinove announced the receipt of a $2.38 million payment from Oseo (the French state innovation agency), the second tranche in the DEINOL cellulosic ethanol project. The payment was triggered by achievement of the first key R&D milestone in the Deinol project – the selection of a robust, thermophilic Deinococcus base strain for use in the ethanol production process.
“This will help us to finance the project through to the next milestone – the launch of lab-scale pilot tests with the candidate strain, scheduled for 2012,” commented CEO Jacques Biton.
The goal of the DEINOL project is to open up (by 2014) new pathways for cellulosic ethanol production by deinococci in existing industrial installations. The $30.8-million project will receive a total of $12.8 million from Oseo. The other partners in the Deinove-led project are Tereos, the joint CNRS/University of Montpellier 1 laboratory CPBS and the joint INSA Toulouse/CNRS/INRA laboratory LISBP). http://www.4-traders.com/DEINOVE-6130009/news/DEINOVE-Achieves-the-First-Key-Milestone-in-the-DEINOL-Project-and-Receives-1-6-Million-from-Oseo-13645486
http://biofuelsdigest.com/bdigest/2011/05/31/deinove-rakes-in-2-38m-after-reaching-cellulosic-ethanol-milestone/
Bacteria as biofuel: It’s coming
// Biofuels Digest
In the US, Cambridge, MA based Joule Unlimited thinks the race for cheaper ethanol might be over with it’s ethanol- creating genetically engineered Cyanobacteria. Joule’s cyanobacteria take light, water and carbon dioxide and spit out alkanes, the building block of diesel fuel. To be even more clear, the bacteria they’ve manipulated genetically take the byproduct of industrial sites releasing and turn it into clean fuel. Pretty cool, huh? So, what’s the down side? Well, you have to grow the bacteria in large tanks with ample sunlight and water; Joule Unlimited has created a tank called the SolarConverter to facilitate this. Costs, according to Joule, should be competitive with the company planning to create 15,000 gallons of diesel per acre annually at costs as low as 20 dollars per barrel.
http://biofuelsdigest.com/asia/2011/06/09/bacteria-as-biofuel-its-coming/
Biobutanol from wood 'the next generation of biofuels'
// new Kerala.com
Washington, May 29 : To deal with the increasing scarcity of fuel, scientists at the SUNY College of Environmental Science and Forestry (ESF) are researching ways to turn wood into sustainable biobutanol that can be pumped into automobile gas tanks.
Researchers in the college's Department of Paper and Bioprocess Engineering are experimenting with different strains of bacteria that can ferment sugars extracted from wood into biobutanol.
Researchers believe biobutanol — more efficient than ethanol in producing energy and easier to add to the existing gasoline distribution infrastructure — could be the emerging biofuel of the future.
"ESF is working on producing alternative biofuels from locally produced resources. We use wood," said Timothy Volk of ESF's Department of Forest and Natural Resources Management.
"Biobutanol is one of the next generation of biofuels," he said.
"Butanol has a higher energy density than ethanol and it can be pumped right into the existing gas pipeline. Going to a higher percentage of ethanol means a new delivery system," he said.
"Ethanol is less efficient and harder to mix with regular gas," he added.
http://www.newkerala.com/news/world/fullnews-219291.html
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