Mascoma scores another $10m, this time from Marathon Oil
May 7th, 2008
Last week, Mascoma and GM announced that the automaker would invest an undisclosed sum in the cellulosic ethanol process being developed at Mascoma Corporation. Perhaps its a mark of the times that
Marathon Oil Corporation has besides ponied up a $10 million equity vestment in investigation and exhibition for the second-gen biofuel process.
As part of the Marathon quantity, Marathon senior blemish president crag Cook joined the Mascoma food of Directors. Mascoma has besides netted $26m from the portion of Energy and Domestic firing says that Mascoma has raised a total of $61m in its third globular of funding. Considering that GM’s vestment was part of that $61m, we can compute that GM’s vestment is nay larger than $25m. Considering there are other investors that create up that $61m, GM’s total is something smaller than $25m. Earlier this year, GM invested (besides an undisclosed sum) in Coskata, another company working on bringing cellulosic ethanol to the masses.
[Source: Domestic firing]
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