KiOR Faces Significant Challenge Moving Forward

In an August 11, 2014, filing with the U.S. Securities and Exchange Commission, cellulosic biofuel company KiOR, Inc. (KiOR) reported that without any new financial commitments, the Company only has enough funding to operate through September 2014. This announcement is significant for the biofuels industry, as EPA had relied on KiOR's projected volumes of available cellulosic biofuels to make up a significant part of the 2013 cellulosic renewable volume obligations (RVO) under the federal RFS. In addition, biofuels and RFS supporters have cited KiOR as a success story for continued support for the advanced and cellulosic RVOs under the RFS.