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Mascoma adds Big Oil talent after Aborted Ethanol IPO

Brian Hicks

Written By Brian Hicks

Posted November 6, 2013

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.

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