{"id":541753,"date":"2010-04-23T09:27:30","date_gmt":"2010-04-23T13:27:30","guid":{"rendered":"http:\/\/www.xconomy.com\/?p=75471"},"modified":"2010-04-23T09:27:30","modified_gmt":"2010-04-23T13:27:30","slug":"mascoma-collects-3-4m-in-debt-round","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/541753","title":{"rendered":"Mascoma Collects $3.4M in Debt Round"},"content":{"rendered":"\n
energy<\/a>, Biofuels<\/a>, deals<\/a><\/div>\n

\t\t\"Mascoma<\/a>
\n\t\tWade Roush wrote:<\/strong><\/p>\n

Mascoma<\/a>, the Lebanon, NH-based developer of advanced methods for making ethanol from wood fiber and other non-edible plant matter, has raised $3.4 million toward a $10 million round of convertible debt financing, according to regulatory documents<\/a> filed April 21. The funding presumably puts the company in stronger position to move forward with construction of an ethanol plant in Michigan’s Upper Peninsula.<\/p>\n

The filing indicates that Mascoma raised the new funds from a group of 10 separate investors, but it doesn’t identify them. The company’s past venture and strategic investors, who have ponied up at least $100 million in three previous rounds of funding, include Atlas Venture, Flagship Ventures, General Catalyst Partners, Khosla Ventures, Kleiner Perkins Caufield & Byers, General Motors, Marathon Oil Co., Pinnacle Financial Partners, and Vantage Point Venture Partners.<\/p>\n

Mascoma won a $15 million grant <\/a>from the Michigan Economic Development Corporation in June 2008 to build a cellulosic ethanol plant in Kinross in Chippewa County, south of Sault Ste. Marie, MI. The state later pledged another $8.5 million for the plant, which is a joint venture with Marquette, MI-based forestry company J.M. Longyear and is expected to create 50 to 75 jobs and be operational by 2012.<\/p>\n

Mascoma representatives did not immediately respond to Xconomy’s request for comment on the funding round. Mascoma appointed a new CEO<\/a>, chemical industry veteran William Brady, in January.<\/p>\n

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energy, Biofuels, deals Wade Roush wrote: Mascoma, the Lebanon, NH-based developer of advanced methods for making ethanol from wood fiber and other non-edible plant matter, has raised $3.4 million toward a $10 million round of convertible debt financing, according to regulatory documents filed April 21. The funding presumably puts the company in stronger position to […]<\/p>\n","protected":false},"author":5296,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15,7],"tags":[],"class_list":["post-541753","post","type-post","status-publish","format-standard","hentry","category-energy","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/541753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/5296"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=541753"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/541753\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=541753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=541753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=541753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}