PASADENA, TX (May 12, 2011) – KiOR, Inc., a next-generation renewable fuels company, announced today that it has signed a ground fuel supply agreement with FedEx Corporate Services, Inc. Under the agreement, KiOR may supply renewable diesel blendstocks for purchase by affiliates of FedEx Corporate Services, Inc. from KiOR’s first commercial production facility in Columbus, MS, which is scheduled to commence production in the second half of 2012.
“We are excited to be working with a premier transportation company like FedEx,” said Fred Cannon, KiOR’s President and CEO. “This agreement with the services company of direct end users is another step toward delivering our fuel blendstocks to the market.”
The agreement is KiOR’s first with an end user of transportation fuels. In March of 2011, KiOR signed an offtake agreement with Hunt Refining Company for renewable gasoline and diesel blendstocks and fuel oil from the company’s Columbus, MS, facility.
KiOR is a next-generation renewable fuels company that has developed a proprietary technology platform to convert biomass into renewable crude oil. The renewable crude oil is processed using standard refinery equipment into gasoline, diesel and fuel oil blendstocks that are compatible with the existing fuel infrastructure. KiOR strives to help ease dependence on foreign oil, reduce lifecycle greenhouse gas emissions and create high-quality jobs and economic benefit across rural America. For more information, please visit www.KiOR.com.