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Mascoma Corp., a New Hampshire-based biofuels company, has tapped a new $50 million convertible debt financing for $6.9 million, according to federal documents.
While the filing with the U.S. Securities and Exchange Commission doesn’t name the 30 participants in the financing, it does list as related persons Hemant Taneja from General Catalyst and Jim Matheson from Flagship Ventures, among others.
In January, New Hampshire-based Mascoma landed an investment for an undisclosed amount from oil refinery company Valero Energy Corp. in a deal that could also bring up to $50 million to Mascoma’s wood-based cellulosic ethanol biorefinery being built in Michigan. The Michigan biorefinery is also backed by funds from the State of Michigan, through the Michigan Economic Development Corp. and the U.S. Department of Energy.
Mascoma in April named former Genzyme Corp. senior vice president Stephen Kennedy as executive vice president of research and development, to lead the company’s efforts to move its research into commercialization.
Founded in 2005 by Dartmouth professors Lee Lynd and Charles Wyman, Mascoma moved its headquarters to Lebanon, N.H., from Boston in April of 2009.
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