Based in Cambridge, Mass., Mascoma is in the process of building several demonstration-scale ethanol plants in three other states: Michigan, New York and Tennessee. It’s partnered with a variety of different corporations and universities at each location.
[aditude-amp id="flyingcarpet" targeting='{"env":"staging","page_type":"article","post_id":89160,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"enterprise,","session":"A"}']What that boils down to is hedging its bets — by experimenting with several different feedstocks and processes, Mascoma is making itself more likely to hit the jackpot, a cost-effective cellulosic ethanol facility. The feedstocks it’s using include wood, switchgrass, and in New York, mixed materials like paper sludge and corn stover.
The $50 million funding was broken into a $30 million venture round and $20 million in debt. Participating were one new investor, General Catalyst Partners, and previous investors Khosla Ventures, Atlas Venture, Flagship Ventures, Kleiner Perkins Caufield & Byers, Pinnacle Ventures and VantagePoint Venture Partners. Including various government grants, the company has taken just over $100 million to date.
AI Weekly
The must-read newsletter for AI and Big Data industry written by Khari Johnson, Kyle Wiggers, and Seth Colaner.
Included with VentureBeat Insider and VentureBeat VIP memberships.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn More