KiOR, Inc. (NASDAQ: KIOR) is now one step closer to bringing its renewable fuel to market. The renewable fuels company announced that it has been granted Part 79 registration for its Renewable Gasoline Blendstock 5 by the U.S. Environmental Protection Agency. This EPA registration is required by manufacturers of motor vehicle fuels and it must be completed before it can sell the product.
KiOR claims that its gasoline is the first renewable cellulosic gasoline that the EPA has registered for sale in the United States. What is interesting is that this stock has been brutalized along with alternative energy and with lower oil prices. After coming public in mid-2011, the shares eventually peaked above $20 last fall but are now down under $8 today.
The company’s CEO Fred Cannon said, “With this registration, KiOR’s breakthrough cellulosic gasoline will be fueling cars of American consumers this year, providing a truly renewable fuel option that uses only sustainable non-food feedstock, reduces greenhouse gases, creates American jobs, and reduces our dependence on imported oil.”
KiOR shares are up 4% at $7.62 on the news and the 52-week trading range is $6.34 to $23.85.
JON C. OGG