US Kior's net loss expands in Q2 2011

Aug 12, 2011 - US biofuel company Kior Inc saw its net loss widen to USD 21 million (EUR 14.8m), or USD 0.43 per share, for the second quarter of 2011 from USD 19.4 million, or USD 0.27 per share, a year ago.

The loss includes a USD-5.5-million non-cash mark-to-marked expense on warrant liabilities and USD 2.6 million of non-cash stock-based compensation expenses.

Kior did not generate revenues during the quarter. It was focused on the construction of its first commercial plant in the state of Mississippi and research and development (R&D) to improve production yields.

Loss from operations expanded to USD 15.4 million from USD 6.8 million as total operating expenses increased.

Kior signed commercial off-take and feedstock deals for 100% of its biofuel plant's expected output and requirements and is on track to start production in the second half of 2012, the company said.

(USD 1 = EUR 0.705)

Choose your newsletter by Renewables Now. Join for free!