{"id":4809,"date":"2015-10-07T07:58:46","date_gmt":"2015-10-07T07:58:46","guid":{"rendered":"https:\/\/cleanenergyworld.net\/index.php\/2015\/10\/07\/renewable-energy-group-gets-okay-purchase-kiors-biofuel-equipment\/"},"modified":"2015-10-07T07:58:46","modified_gmt":"2015-10-07T07:58:46","slug":"renewable-energy-group-gets-okay-purchase-kiors-biofuel-equipment","status":"publish","type":"post","link":"https:\/\/cleanenergyworld.net\/index.php\/2015\/10\/07\/renewable-energy-group-gets-okay-purchase-kiors-biofuel-equipment\/","title":{"rendered":"Renewable Energy Group Gets Okay to Purchase KiOR\u2019s Biofuel Equipment"},"content":{"rendered":"<p>Renewable Energy Group has received approval from a Mississippi court to purchase certain equipment at the KiOR Columbus production facility.<\/p>\n<p>Under the approved asset purchase agreement, the subsidiary, REG Synthetic Fuels. paid US$1.5 million, plus certain expenses related to equipment preparation, to acquire various physical assets at the Columbus, MS plant, including a 12-million gallon hydrotreating unit, distillation column and tankage.<\/p>\n<p>\u201cThese are quality assets we were able to purchase for a very good value,\u201d said Brad Albin, Vice President, Manufacturing. \u201cWe plan to re-locate and utilize the equipment for future advanced biofuel or renewable chemical projects.\u201d<\/p>\n<p>Texas-based KiOR, spent US$200 million to set up a biofuel plant designed to convert wood chips to fuel. The project has stopped operating since late 2013. KiOR&#8217;s parent company, which is based in California, has filed for Chapter 11 bankruptcy reorganization. The Mississippi unit is not included in the bankruptcy proceedings.<\/p>\n<p>KiOR still owes the state of Mississippi approximately US$69 million in loans.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Renewable Energy Group has received approval from a Mississippi court to purchase certain equipment at the KiOR Columbus production 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