Mascoma gets $14.8M to produce ethanol from biomass

December 20, 2006 | Matt Marshall
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mascoma.bmpMascoma, a Cambridge, Mass. start-up that is trying to become the first commercial developer of cellulosic ethanol — something some environmentalists see as the most promising prospect for alternative, anti-global warming fuel — has won $14.8 million more in financing.

This comes after the company raised $30 million in fresh funding last month from Silicon Valley venture firm Kleiner Perkins and others.

The latest award, given by New York State Department of Agriculture and Markets and the New York State Energy Research and Development Authority, is for Mascoma to build a $20 million cellulosic ethanol plant in Rochester, New York. The plant will be the first commercial cellulosic ethanol plant in the U.S. to produce ethanol from wood-based biomass.

We wrote previously about the company here.

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About the Author,

Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.

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