Press for Mascoma

Mascoma Corporation, a renewable fuels company, announced today that it has entered into definitive agreements with Valero Energy Corporation, the nation’s largest independent oil refiner and a leading ethanol producer, to develop and operate a first-of-its-kind 20 million gallon per year commercial-scale cellulosic ethanol facility in Kinross, Michigan. The cost to construct, commission and start-up this facility is expected to be approximately $232 million, based on current external engineering estimates, and includes certain up-front infrastructure costs that will enable the expansion of the facility to 40 million gallons per year. These costs are fully funded, with Valero providing the majority of the financing, and the remainder from awards by the U.S. Department of Energy (DOE) and the State of Michigan. Construction of the Kinross facility is anticipated to start in the next three to six months and is expected to be completed by year-end 2013.

Mascoma Corporation, an innovative biofuels company, announced the appointment of David Arkowitz as its new Chief Financial Officer (CFO). Mr. Arkowitz, who joins Mascoma at the end of the month, will be responsible for the company’s finance and investor relations areas, and assume a key role in the company’s general management and governance.

Mascoma Corporation, an innovative biofuels company, announced the appointment of Stephen Kennedy as the new Executive Vice President of Research and Development and member of the executive leadership team. With thirty years of experience leading operations management, process research and development, and biologics manufacturing, Kennedy is well established to lead Mascoma’s research and development team and guide the company’s R&D efforts as they transition into commercial operations.

Mascoma Corporation, an innovative biofuels company, today announced that Valero Energy Corporation, the nation’s largest independent oil refiner, has invested in Mascoma Corporation. Further, Mascoma, Valero, and Mascoma’s operating subsidiary, Frontier Renewable Resources LLC, jointly owned with natural resource management company, J.M.