Cellulosic Ethanol Plant Loses Partner

Explore:  Biofuel Ethanol Funding IPO

Mascoma Corporation has lost a major funding source in its efforts to build a 20 million gallon ethanol plant in Kinross. Valero Energy Corp has pulled its $50 million investment in the project. An IPO for Mascoma that would have raised $100 million has been placed on hold. The company has stated it will not proceed with the project until all funding is secured. The total cost for the facility, which has $120 million in public funding pledged, is $232 million.

Topics:  Biofuel, Ethanol, Funding, IPO

Published In: Energy & Utilities Updates, Environmental Updates, Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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