Mascoma Corporation Acquires Celsys BioFuels

7 November 2007

Cellulosic biofuels company Mascoma Corporation has acquired Celsys BioFuels, Inc. Terms of the transaction were not disclosed.

Celsys BioFuels, Inc., headquartered in Indianapolis, Indiana, was formed in 2006 to commercialize cellulosic ethanol production technology developed in the Laboratory of Renewable Resources Engineering at Purdue University. The Celsys technology is based on proprietary pretreatment processes for multiple biomass feedstocks, including corn fiber and distiller grains.

Mascoma Corporation produces biofuels from lignocellulosic biomass using proprietary microorganisms and enzymes developed in its Lebanon, New Hampshire laboratories and with research partners throughout the world. (Earlier post.)

The Celsys technology was developed by Dr. Michael Ladisch, an internationally known leader in the field of renewable fuels and cellulosic biofuels. He will be taking a two-year leave of absence from Purdue University to join Mascoma as the company’s Chief Technology Officer.

The acquisition of Celsys BioFuels strengthens our proprietary biomass processing capabilities and our intellectual property portfolio. It also expands our ability to integrate cellulosic ethanol into existing corn ethanol production facilities by utilizing fiber and distiller grains co-products as feedstocks.

—Bruce A. Jamerson, Mascoma CEO

As a result of the Celsys acquisition, Mascoma will acquire the rights to technology and intellectual property licensed from Purdue University. Dr. Ladisch will continue to perform limited duties as Director of the Laboratory of Renewable Resources Engineering and in faculty status as Distinguished Professor.

In a related appointment, Dr. Andrew Richard, Mascoma's current Chief Technology Officer, will assume the role of Managing Director, Mascoma Canada and will be responsible for pursuing cellulosic biofuels opportunities in Canada.