Columbus Wood Products

IPO Pick of the Week: KiOR

"Kior processes wood products to make biofuels that can be converted at standard refineries into gasoline, diesel or jet fuel. The $190 million Columbus facility is expected to produce about 11 million gallons (42 million liters) a year, and successive plants may be larger. KIOR is planning to build other plants in Mississippi, Texas and Georgia that may cost $350 million each.

Based on price-to-book value KIOR would sell for the highest price-to-book value of the group: The values are: KIOR, 6.6; SZYM, 5.2; AMRS, 4.6; GEVO, 3.4.

If a KIOR investor wants to participate in the renewable section, it seems prudent to also consider Solazyme, at least. At current prices we like both SZYM and KIOR, although there may not be a rush to buy either until the market levels out. Also, as with any new technology process, there is not a 100% guarantee that plant production can be scaled up without hickups and problems. ( KIOR Valuation Metrics )

THREE RECENT IPOs IN THE RENEWABLES SEGMENT

BUSINESS -- KIOR is a

"KiOR, a next-generation renewable fuels company, and Catchlight Energy have signed a feedstock supply agreement which will see Catchlight Energy provide forestry-based feedstocks to KiOR for commercial renewable fuel production. Catchlight Energy, a company that is a 50/50 joint venture between Chevron and Weyerhaeuser, will provide the feedstocks to the KiOR fuel facility located in Columbus, Mississippi, U.S.

KIOR plans to build, own and operate its commercial production facilities in the United States. KIOR began constructing a 500 BDT per day initial-scale commercial production facility in Columbus, Mississippi in the first quarter of 2011, with production expected to begin in the second half of 2012. KIOR intends to construct a 1,500 BDT per day standard commercial production facilities, which are designed to have three times the capacity of its initial-scale commercial production facility, beginning in the third quarter of 2012 with the first planned facility in Newton, Mississippi.

Cornerstone Specialty Wood Products, LLC Announces Brazil ...

Cincinnati, OH –Cornerstone Specialty Wood Products, LLC, the leading designer and manufacturer of ResinDek® mezzanine decking has partnered with Tecnequip, Tecnologia Em Equipamentos (Tecnequip Technology Equipment) a company that imports, manufactures, and distributes solutions for mezzanine floors and industrial platforms located in São Paulo, Brazil. As the exclusive distributor in Brazil, Tecnequip recently exhibited 1,000 square feet of ResinDek® Xspan® at the first CeMAT Trade Show hosted in Brazil.  The CeMAT South America Trade Show was held at the Imigrantes Exhibition Center, in São Paulo.  CeMAT South America was held with the Materials Handling and Storage Equipment Sectoral Chamber (CSMAM) of the Brazilian Machine and Equipment Industry Association (ABIMAQ). Cornerstone Specialty Wood Products, LLC has ResinDek® flooring in warehouses, distribution centers, manufacturing, and storage buildings worldwide.  ResinDek® is offered in several grades for various weight bearing load requirements with numerous coatings offered for ESD (electro-static) and stain resistance.  All ResinDek® products can contribute towards earning points for LEED® qualified buildings.

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