After years of delays, biotech company Mascoma appears to have the funding to build a wood chip-to-ethanol plant.
The company today said that fuel refiner and investor Valero Energy will create a joint venture to build a $232 million plant in Kinross, Mich. The plant will convert lumber used for paper into ethanol using Mascoma's streamlined production process.
The companies said that the plant will be able to produce 20 million gallons of cellulosic ethanol a year, which can be expanded to double that. Construction is expected to start in the next six months and be completed by the … Read more