COLUMBUS, Miss. (AP) — Alternative fuel manufacturer KiOR Inc. is putting its $225 million plant in Lowndes County in "idle" state until it can raise money for more research and plant improvements.
The disclosure came in the company's end-of-the-year financial filing with the U.S. Securities and Exchange Commission.
In that filing, KiOR says an earlier announced second operation for Lowndes County will not occur until late 2015 — if at all.
KiOR also says that the SEC subpoenaed information Jan. 28 about the status of the Columbus plant and biofuel projection levels as part of an investigation. KiOR faces several lawsuits claiming it misrepresented its progress at the facility
The alternative fuels plant started operating 18 months ago but has been plagued by operational and financial difficulties. The plant stopped production in December.