Mascoma scores another $10m, this time from Marathon Oil
Marathon Oil Corporation has also ponied up a $10 million equity investment in research and development for the second-gen biofuel process.
As part of the Marathon deal, Marathon senior vice president Cliff Cook joined the Mascoma Board of Directors. Mascoma has also netted $26m from the Department of Energy and Domestic Fuel says that Mascoma has raised a total of $61m in its third round of funding. Considering that GM's investment was part of that $61m, we can calculate that GM's investment is no larger than $25m. Considering there are other investors that make up that $61m, GM's total is something less than $25m. Earlier this year, GM invested (also an undisclosed amount) in Coskata, another company working on bringing cellulosic ethanol to the masses.
[Source: Domestic Fuel]
- Biggest automotive sales disappointments
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models