Mascoma is an innovative biofuels company developing environmentally sustainable, low-cost, low-carbon biofuels from cellulosic biomass. Its Consolidated Bioprocessing method converts non-food biomass feedstocks into cellulosic ethanol while significantly reducing the need for costly enzymes and additives. The company’s corporate office and R&D laboratories are based in Lebanon, New Hampshire, and it is producing cellulosic ethanol on a demonstration scale at a facility in Rome, New York. An affiliate, Frontier Renewable Resources LLC, is developing a commercial-scale biorefinery in Kinross Charter Township, Michigan. Per a recent SEC filing, Mascoma raised $7 million in convertible debt from a group of investors, reflecting its current financing activity. Mascoma is focused on becoming the first commercial developer of cellulosic ethanol, aiming to produce fuel from wood-based biomass. The company plans to build a $20 million cellulosic ethanol plant in Rochester, New York, which would be the first U.S. commercial plant to produce ethanol from wood-based biomass. The latest financing includes a $14.8 million award from the New York State Department of Agriculture and Markets and the New York State Energy Research and Development Authority. This award follows a $30 million funding round the company received last month from Silicon Valley venture firm Kleiner Perkins and others. Environmental advocates view cellulosic ethanol as a promising alternative fuel with climate benefits, a view Mascoma is positioning itself to capitalize on. Mascoma is headquartered in Cambridge, Massachusetts. Mascoma is a Cambridge, Mass. start-up working to become the first commercial developer of cellulosic ethanol. The company aims to convert cellulosic material — grass, wood, and agricultural and forestry wastes — into ethanol. Scientists quoted in the article say cellulosic ethanol can be produced much more cheaply than corn-based ethanol. Mascoma announced it has raised $30 million in new venture funding to advance its commercialization efforts. Experts expect it will be a couple of years before cellulosic production is ready for primetime. If successful, the fuel could be blended with gasoline or potentially displace it entirely.

Total raised

$52M

Funding rounds

3

Latest round

Convertible Note

Latest activity

Sep 2011