Wouldn't it be better if you simply could take waste material, or biomass, and transform it into fuel?

Not quite a decade later, that fantasy may be starting to become reality. Cannon is now chief executive of the alternative energy start-up KiOR. A few weeks ago, the company produced and shipped what it says is the world's first commercial volume of cellulosic diesel fuel from its new biorefinery in Columbus, Mississippi. KiOR's product, made from pine wood chips, is chemically identical to the petroleum-based fuel it is designed to replace, the company says. (Vote and comment: "Are Biofuels Worth the Investment?")

KiOR's breakthrough is one part of a wide-ranging effort by a number of companies and government-supported researchers to develop