Mascoma Honored with Red Herring 100 Selection

Mascoma Corporation

Mascoma Honored with Red Herring 100 Selection

May 2, 2007

2007 Awards Recognize the 100 Most Promising Companies Driving the Future of Technology

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Mascoma Corporation, a leader in cellulosic biomass-to-biofuels development and production, today announced that it is a recipient of a Red Herring 100 Spring award, as one of the top 100 private technology companies based in North America. Red Herring is a global media company which unites the world’s best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters, and major events for technology leaders around the globe. The award is the company’s second prestigious designation in one month, following the first ever Lemelson-MIT Award for Sustainability, given to Mascoma co-founder and Dartmouth Engineering Professor Dr. Lee Lynd.

“We have built a team with some of the country’s leading cellulosic ethanol, biotech and energy industry executives and scientists. This has allowed us to accelerate our plans for the commercial production of cellulosic ethanol from a range of renewable biomass feedstocks,” said Mascoma CEO Bruce Jamerson. “This award recognizes the strength of our team and technology, our investors, and the important role that climate friendly and cost competitive biofuels will have in our future.”

“Mascoma is a clear leader in advancing the production of cellulosic ethanol to complement corn ethanol production, focusing on driving down costs and building and operating scalable cellulosic ethanol plants. The Red Herring 100 award recognizes Mascoma’s innovation and contribution to a greener, domestic fuels market that benefits both the industry and consumers,” said Vinod Khosla, founder, Khosla Ventures, an initial investor in Mascoma.

"Having received more than 800 submissions, it is clear that we are witnessing a new outburst of creativity," said Joel Dreyfuss, Editor-in-Chief of Red Herring. "With venture capital flowing again, it’s exciting to see technology innovators and business investors collaborate to create disruptive technologies. The Red Herring 100 North America companies are impressive up-and-comers, and definitely the ones to watch."

Red Herring’s editorial staff rigorously evaluated more than 800 private companies through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development. Companies including eBay, Google, and Skype were spotted in their early days by Red Herring editors, and touted as leaders that would change the way we live and work.

Mascoma is currently developing a biomass-to-ethanol demonstration plant in New York State and is also developing a commercial scale production facility in another location.

Mascoma is funded by investors led by Khosla Ventures, and including Flagship Ventures, General Catalyst Partners, Kleiner Perkins Caufield & Byers, Vantage Point Venture Partners, Atlas Venture, and Pinnacle Ventures. The company secured a grant from New York State to build and operate a demonstration plant in New York, and funding from the U.S. DOE for the development of fermentative organisms that speed the conversion of cellulosic biomass into ethanol.

About Mascoma Corporation

Mascoma Corporation is a cellulosic biomass-to-ethanol company with corporate offices in Cambridge, Massachusetts, and Research and Development labs in Lebanon, New Hampshire. Mascoma is leading the development of unique biotechnology and deployment of cellulosic production. Initial deployment activities are focused on strategic partnerships for conversion of wood-based cellulosic feedstocks into ethanol, at relevant commercial scale. Mascoma is aggressively developing advanced cellulosic ethanol technologies in its labs, as well as in Professor Lee Lynd’s labs at Dartmouth College’s Thayer School of Engineering, through other sponsored research and in licensing of best in class technologies.

Contacts

KMC Partners Public Relations
Larry Bouchie, 617-758-4192
larry@kmcpartners.com