Governor Barbour Welcomes BioFuel Producer to Mississippi

FOR IMMEDIATE RELEASE

Contact: Sally Williams, Public Relations Bureau Manager 601.359.3449
sawilliams@mississippi.org

Jackson, Miss. (August 26, 2010) – Governor Haley Barbour and officials from KiOR, a biofuels company headquartered in Pasadena, Texas, announced today that the company is locating five biofuel production facilities in Mississippi. In total, KiOR will be investing more than $500 million in its Mississippi facilities and has committed to create at least 1,000 direct and indirect jobs in the state.

“I am delighted this revolutionary new company has chosen Mississippi as the location for its first three full-scale production facilities,” Governor Haley Barbour said. “KiOR will use Mississippi’s abundant, renewable natural resources to create a high-quality crude oil substitute that will help meet our nation’s energy needs, reduce our dependence on foreign oil, and create more than one thousand jobs for Mississippi workers.”

KiOR’s revolutionary catalytic conversion process allows the company to convert biomass, from a variety of feedstocks, including wood products and agricultural waste, into a high-quality renewable crude oil, known as Re-Crude™, that can be used as a direct replacement for imported crude oil. The company’s low-cost, feedstock flexible technology reduces nature’s process of creating oil from a period of millions of years down to a matter of seconds.

KiOR ProductsUsing existing refinery infrastructure, KiOR’s crude oil substitute can be refined into transportation fuels and can be produced at low cost and in an easily scalable and environmentally-friendly manner.

”We’re very excited to begin commercializing our technology throughout the state of Mississippi,” said Fred Cannon, president and chief executive officer of KiOR. “These facilities will bring high quality jobs to the area, help our country reduce its dependence on foreign oil and position the state as a leader in the production of domestically sourced biofuels.”

KiOR has selected Columbus, Miss., and Newton, Miss., for its first facilities and has determined another facility will be located in southwest Mississippi. The company is in discussions with other local communities around the state regarding the locations of two additional plants. These additional locations will be announced after the company has made its final determinations.

Governor Barbour is asking the State Legislature to consider a State assistance package for the project in a special session called for today.

“With its decision to locate production facilities in Mississippi, KiOR is providing high-quality job opportunities for workers in rural areas of the state while, at the same time, benefitting the Mississippi forestry industry and farmers through its commitment to using feedstock from renewable resources grown in the state,” said Gray Swoope, executive director of the Mississippi Development Authority.

KiOR was founded in 2007. The privately owned company is led by a team with extensive experience in catalysis, oil refining and wood procurement. KiOR maintains a research and development facility, along with demonstration and pilot plants, in Pasadena, Texas. KiOR’s demonstration plant is producing up to 15 barrels of renewable crude per day from woodchips, a significant scale-up in capacity from the company’s pilot plant.

For more information, please visit the company’s website at www.kior.com.

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About Mississippi Development Authority
Mississippi Development Authority is the State of Mississippi's lead economic and community development agency. More than 250 employees are engaged in providing services to businesses, communities and workers in the state. While the agency is best known for its efforts to recruit new businesses to Mississippi, the Authority provides services to promote tourism, help communities improve their quality of place, help existing employers identify and meet opportunities and challenges and help workers improve their skills – all with the goal of improving the quality of life and economic well-being of Mississippians. For more information, visit MDA's website at www.mississippi.org.