Approximately 6 months ago KIOR had this story that Bill
Gates and Vinod Khosla would play a major role in funding an identical second
plant in Columbus Mississippi that would double the nameplate capacity of KIOR
alchemic diesel from pine trees for an additional investment of $225 million.
This was still when Vinod Khosla was selling and Bill Gates
was still buying the 92 gallons of diesel per ton of bone dry pine story. Since then KIOR has impaired and written down
the cost of Columbus #1 “copy exact” facility to $40 million from $225 million. This write down was made because the
auditors demanded it as the plant is incapable of producing name plate capacity
and FASB accounting rules require it.
I had actually written to the board of directors of KIOR on
July 13, 2013 that the plant should be written down as I predicted it would
never be capable of reaching nameplate capacity. The Green Machine knows thermodynamics and
can smell fake rats from a mile away. Of course I got no word from the board of
directors as Condi Rice et. al. were still fibbing about the “reality” of KIOR. A good lawyer representing the folks who
bought shares in KIOR and lost their money should ask for this email from the
Green Machine to the board.
Who in their right minds will invest $225 million in
Columbus #2 the “copy exact” clone of Columbus #1 after the write down of
Columbus #1 by more than 80% because of production problems? Vinod is still playing games with the folks
in Columbus and is trying to extricate himself from the Magnolia State loans
that were made to KIOR to build Columbus #1.
Vinod is in hot water and
desperate to show the world he is not going to get a life sentence in a thermo
court for three strikes in the bio fuels game. (Range, Cello, and Kior)
Bloomberg News who simply love Vinod Khosla, Al Gore and,
other green illusionists still thinks KIOR has a chance. Sadly none of the Wall Street analysts who
follow KIOR and none of the financial press have a clue about thermodynamics. There will be no Columbus #2 and Columbus #1
will eventually be put to sleep. The
real question is who will go after Khosla and his adviser Condi Rice or will
they slink away? I hope that the folks
in Columbus find other jobs and simply forget the KIOR debacle. As I have reported KIOR means wash basin in
Hebrew.
“In the Holy Temple there was a vessel
known as the kior — the laver or wash-basin from which the kohanim – the
priests – washed their hands and feet before beginning their service in the
Tabernacle or Holy Temple.”
It is doubtful that the priests will soon be rebuilding the
third KIOR in Jerusalem and there is little doubt a second KIOR plant will be
built in Columbus. As for Condi and
Vinod they will soon wash their hands of the debacle they promoted, hyped, and
over sold. Bill Gates lost $7.5 million
helping Vinod six months ago and this is just a drop in the KIOR for the
richest man in the world.
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