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Posts tagged “bankruptcy”

By Robert Rapier on Mar 21, 2014 with 27 responses

KiOR: The Fat Lady Warms Up Her Voice


In January of this year, as I do each year, I made several predictions for 2014. One was that natural gas prices would be higher. That prediction is looking pretty solid, with natural gas inventories this week dropping below 1 trillion cubic feet for the first time since 2003 — 49% below the level of one year ago.  As I have argued in recent articles, this is likely to mean a year of higher natural gas prices than what we have become accustomed to over the past couple of years.

Among the other predictions I made for 2014 was “KiOR will declare bankruptcy in 2014.” While it is still a bit early to write KiOR’s (NASDAQ: KIOR) obituary, the patient is looking pretty unhealthy. I have been getting a lot of emails asking for comment on their recently released annual report, and I would have had something posted already, but I was traveling during the first half of the week. So let’s dissect what has happened. CONTINUE»

By Robert Rapier on Jul 8, 2011 with 105 responses

What Happened at Choren?

If you have not heard by now, Choren Industries has begun bankruptcy proceedings. For those who don’t know, since 2009 I have worked as the technology advisor for the major investor and primary funding source for Choren’s day-to-day operations. I have just returned from a visit to their plant in Freiberg, Germany. Due to the nature of my relationships with my employer and with Choren, I have to be guarded about what I say. To be clear, I do not work for Choren, and thus am not writing this as a Choren spokesman of any sort. But I do want to shed a bit more light on the situation. First of all, to give a bit of background on Choren,… Continue»

By Robert Rapier on Mar 26, 2009 with no responses

Aventine, Verenium on the Ropes

Reality is starting to catch up with prospective cellulosic ethanol producers. I felt like this was bound to happen, but the poor economy is making it happen faster than I expected. I expected some plants to be built, and then they would bleed red ink for a while before declaring bankruptcy. But many are running into trouble before breaking ground on a plant: Time Running Out For Aventine Late Monday, Aventine Renewable Energy Holdings (nyse: AVR – news – people ) announced it didn’t expect to have enough capital to cover an upcoming $15.0 million interest payment due April 1 on an outstanding senior unsecured 10.0% fixed-rate note or to pay $24.4 million due to its engineering and construction contractor,… Continue»

By Robert Rapier on Mar 13, 2009 with 6 responses

Update on CWT IPO

A couple of months ago, in response to a story that Changing World Technologies was going to file an IPO to help commercialize their TPD technology, I reposted my story: TDP: The Next Big Thing Turns out they decided against the IPO. Bankruptcy seemed the better option: Renewable Environmental Solutions owner closes plant in Missouri, files for bankruptcy Changing World Technologies Inc., based in West Hempstead, N.Y., filed for Chapter 11 protection Wednesday in the U.S. Bankruptcy Court for the Southern District of New York. In a news release, the company, which owns the Renewable Environmental Solutions plant in Carthage, said it was trying to reorganize its business and find new financing “to fund its operations going forward and to… Continue»