Mascoma adds Big Oil talent after Aborted Ethanol IPO
New Hampshire-based ethanol company Mascoma backed out of its plans for an initial public offering last March, citing unfavorable market conditions. Today, the company announced its board of directors has two new members from the big oil world: Steve Percy, the former CEO of BP America, and Dan Nelson, former VP of ExxonMobil.
Mascoma makes its own enzymes that it claims can reduce the cost of making corn-based ethanol, but its goal is to widely produce cellulosic ethanol, a fuel made from plant waste (biomass) instead of the corn itself.
These new board members have been taken on to assist Mascoma’s managers in commercializing its proprietary biomass conversion platform.
U.S. Domestic Oil Prices
If trends continue in one direction long enough, people will invariably claim there’s a bubble of some sort, and that it could burst at any time and change the trend. The myth that there is an “Oil Bubble” in the United States can be dispelled quite neatly. Check out this article and find out why.