Based in Pasadena, Texas, KiOR built a $222 refinery in Columbus, Miss., to extract the equivalent of light crude oil from wood chips. It refines the oil into gasoline and diesel fuel.
KiOR said researchers have found a way to increase how much oil it can extract from wood.
The company reported third-quarter financial results, saying it lost $27 million, or 26 cents per share, during the period. KiOR lost $66.7 million, or 64 cents per share, in 2011's third quarter. The company didn't report any revenue during either quarter
Analysts expected a loss of 26 cents per share, on average.