REG acquires various KiOR plant assets for $1.5 million
Photo: KiOR
October 6, 2015
BY Ron Kotrba
Renewable Energy Group Inc. announced Oct. 6 that one of its subsidiaries, REG Synthetic Fuels LLC, has received approval from a Mississippi court to purchase certain equipment at the KiOR Columbus LLC production facility in Mississippi. KiOR filed for bankruptcy late last year. Its facility was scaled at 15 MMgy to produce cellulosic diesel and gasoline from woody biomass, specifically Southern Yellow Pine.
Under the approved asset purchase agreement, REG Synthetic Fuels paid $1.5 million, plus certain expenses related to equipment preparation, to acquire various physical assets from KiOR’s Columbus plant, including a 12-million gallon hydrotreating unit, distillation column and tankage.
“These are quality assets we were able to purchase for a very good value,” said Brad Albin, vice president of manufacturing for REG. “We plan to relocate and utilize the equipment for future advanced biofuel or renewable chemical projects.”
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