NATCHEZ, Miss. (AP) — Financially struggling fuel maker KiOR missed a key payment to Adams County this week that would have allowed the company to continue holding onto its undeveloped proposed industrial site in Natchez.
KiOR announced in mid-2012 plans to build an alternative fuel production facility near the Natchez-Adams County Port, but its plans have since been stalled by technical and financial quagmire at its only full-scale plant in Columbus.
Two weeks ago, the company warned it would run out of money in September and could face bankruptcy, and the company had multiple rounds of employee layoffs.
The Natchez Democrat reports the company had a $150,000, six-month contract on the county-owned property, but when the payment was due Tuesday, it was not made.
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