Thursday, November 1, 2007

Khosla Ventures and BIOeCON Form KiOR Inc.

From ITnews:

Technology Development for the Conversion of Biomass to Bio-Oil
Khosla Ventures and BIOeCON announce today the formation of their joint venture KiOR Inc.

Khosla Ventures, will provide the Series A funding, whereas BIOeCON will bring its knowledge and intellectual property for the 'Biomass Catalytic Cracking Process' (BCC).

KiOR Inc. will focus on the further development and commercialisation of the BCC technology as well as prepare for raising significantly more capital in the next two to three years. BCC technology converts lignocellulosic biomass, found in grass, wood, and various agricultural and forestry wastes, into a bio-oil product that can be further upgraded to transportation fuels....MORE