Khosla-backed bio-crude startup KiOR is seeking a $1 billion loan guarantee from the DOE. The company announced a term sheet Thursday, which may or may not lead to an award, but if secured, will be crucial to the company’s plans to scale up production.
Yep, those USDA loan guarantees are still out there. INEOS Bio and its joint venture partner, New Planet Energy, announced this morning that they have received a $75 million conditional loan guarantee commitment from the USDA program.
Adobe is extending its AIR application framework across all three screens, including Internet-connected TVs. The announcement could give Adobe a huge leg-up in the race to deliver online games and video content to the living room, but it will need wide support from consumer electronics partners.
Wow, for a biofuel startup few have heard of KiOR has raised a whole lot of money. According to an amended filing, KiOR, has now raised a whopping $110 million from backers including Khosla Ventures.
While Khosla-backed biofuel startup KiOR has largely been in stealth, KiOR’s President described his company’s technology this week as being able to crunch the millions of years that it takes to carbonize biomass (turn it into fossil fuels) into seconds at the Khosla Venture’s LP meeting.