Mascoma Update: Cellulosic Ethanol Company Adds $10 Million From Marathon Oil

 

Marathon OilAutoblogGreen reported today that the cellulosic ethanol company Mascoma has received another $10 million for research and development from Marathon Oil. This comes after GM’s undisclosed equity share in the same company was announced last week, and puts the grand total raised in this round of financing at $100 million.





The deal will put Marathon Oil’s Senior Vice President Cliff Cook on Mascoma’s Board of Directors. Marathon President and CEO commented: “This investment in Mascoma’s leading-edge technology reflects our commitment to address increasing energy demand by bringing to market environmentally friendly, renewable fuel derived from non-food domestic biomass.”

Cellulosic ethanol is hot. Let’s hope all this investment money puts it out on the street soon.

Via: AutoblogGreen





About the Author

In a past life, Clayton was a professional blogger and editor of Gas 2.0, Important Media’s blog covering the future of sustainable transportation. He was also the Managing Editor for GO Media, the predecessor to Important Media.

  • Cervus

    The oil companies see the writing in the wall, since they’re increasingly locked out of the remaining oil reserves. If they want to stay in business, they need to diversify. Companies like this will attract more and more private investment like this. And that’s how the market’s supposed to work.

  • Cervus

    The oil companies see the writing in the wall, since they’re increasingly locked out of the remaining oil reserves. If they want to stay in business, they need to diversify. Companies like this will attract more and more private investment like this. And that’s how the market’s supposed to work.

  • Rob

    This is like Hitler solving the holocaust.

  • Rob

    This is like Hitler solving the holocaust.

  • Cervus

    Oh please. I guess the oil companies can do no right, can they? Whatever they do must be wrong by definition. Whatever happened to evaluating a technology on the merits instead of who is funding it?

  • Cervus

    Oh please. I guess the oil companies can do no right, can they? Whatever they do must be wrong by definition. Whatever happened to evaluating a technology on the merits instead of who is funding it?

  • Rob

    Cervus,

    Believe me I have nothing but high expectations for the algae biodiesel. But if oil companies are going to be involved they will do everything possible to keep there same profit ratio. We need more companies in the free market to drive prices down, not more of the same.

  • Rob

    Cervus,

    Believe me I have nothing but high expectations for the algae biodiesel. But if oil companies are going to be involved they will do everything possible to keep there same profit ratio. We need more companies in the free market to drive prices down, not more of the same.