KiOR

KiOR was an industrial biotechnology company focused on the production of cellulosic biofuels from non-food biomass. Utilizing a proprietary Biomass Fluid Catalytic Cracking (BFCC) technology, the company aimed to create a 'renewable crude' that could be refined into drop-in transportation fuels like gasoline and diesel. Despite significant financial backing from Khosla Ventures and a high-profile board including Condoleezza Rice, the company struggled to scale its technology at its first commercial facility in Columbus, Mississippi. Technical inefficiencies and lower-than-expected fuel yields led to a rapid depletion of capital, resulting in a Chapter 11 bankruptcy filing in 2014 and subsequent liquidation.