KIOR hit $4 a share at the close today. It is ready to go even lower as the news trickles out that they only produced one single solitary truckload of diesel from pine in Mississippi. Condi Rice is not saying much and probably has KIOR’s lawyers checking her director’s errors and omissions insurance.
I did a little checking of who besides Khosla owns a bunch of KIOR stock. A not so green hedge fund called Artis Capital owns about 16% of the outstanding shares.
The next largest holding is by the Province of Alberta Canada. My guess is their pension or sovereign wealth fund got smitten by the gangrene promise of diesel from pine trees. Actually after further investigation it looks like the Province of Alberta and well as Mr. Khosla are propping up KIOR with loans.
I then had this memory that the Province of Alberta is also a big investor in Bloom Energy and I tried to piece together the connections between KIOR, Bloom, Khosla, and Kleiner Perkins. Quickly I remembered that Mr. Khosla was once a partner at Kleiner and is still listed as a partner emeritus on Kleiner’s web site.
I then kind of remembered that Khosla and Kleiner were tied at the hip at Amyris.
I then kind of remembered that this guy from the Alberta Investment Management Corp named Jagdeep Bachher is on the board of Bloom Energy.
I then remembered that Jagdeep Bachher was once on the board of KIOR.
OK so we now have a guy named Jugdeep who is in deep with Kleiner and Khosla and how the Province of Alberta invested citizens’ funds in greentech that is simply gangrene and had a guy named Jugdeep representing their interests on the board of directors. Khosla, Kleiner they are all the same. Jugdeep, in deep it is all the same. Green, gangrene ha ha they are not the same. Green is good, gangrene smells of cronyism that has now even crossed the northern border. Condi you may have caused a rift with our good neighbor to the north when news gets to Calgary that the pine trees in Mississippi are being converted into soot not diesel.