First Renewable Cellulosic Gasoline Closer to Market Now in 2012
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…
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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
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.