Mascoma Expanding Its Leadership Team as Company Accelerates Towards Commercialization

Mascoma Expanding Its Leadership Team as Company Accelerates Towards Commercialization
Lebanon and New Hampshire, United States August 20, 2009

Bruce Jamerson Shifts to Active Chairman Role; Recruiting new CEO;
Dr. Jim Flatt appointed Acting President

Mascoma Corporation today announced several management reconfigurations, as the company moves into its commercial development phase. Mascoma has developed proprietary technology, called Consolidated Bioprocessing (CBP), which enables the production of sustainable, low carbon cellulosic ethanol. This technology has been proven in Mascoma’s Rome, New York demonstration facility and will soon begin deployment at one of the industry’s first full-scale cellulosic biofuels plants in Kinross, Michigan.

Bruce A. Jamerson will transition from his role as Mascoma’s CEO to the position of Chairman of Mascoma and of Frontier Renewable Resources, LLC, Mascoma’s Michigan-based operating subsidiary. Frontier is majority-owned by Mascoma and is developing and financing a commercial scale cellulosic ethanol production facility in Kinross, Michigan. The transition will allow Mr. Jamerson to spend his time focused on the financing and deployment of the Kinross facility as well as executing on other emerging strategic initiatives and partnerships.

“As Mascoma and Frontier move rapidly towards technology deployment, it makes strategic sense for me to hand over the reins of day-to-day business and focus on bringing our first operating facility online,” stated Mr. Jamerson. “I am pleased that the company is on excellent footing, and am now looking forward to working closely with our new CEO on achieving our goal of commercial production of cellulosic ethanol.”

The company engaged Russell Reynolds Associates as it begins the process of recruiting a new CEO with experience in the biotechnology, fuels or chemicals processing industries, and scale-up of new processes. In the interim, the Board has appointed Dr. Jim Flatt, Executive Vice President of R&D and Operations, to serve as Acting President until a new CEO is hired.

“I am honored to step into this new role as Acting President of Mascoma,” said Dr. Jim Flatt. “I continue to believe strongly in the mission of Mascoma, and we are all excited as we move further towards a commercially viable production process for cellulosic ethanol. We have made great strides in proving our technology and now we must focus on ensuring our organization and efforts are appropriately structured to succeed in translating Mascoma’s pioneering CBP technology to full-scale. I also look forward to continuing active oversight of and participation in our R&D and Operations efforts, as we support Frontier’s development efforts.”

Mascoma recently moved into a new laboratory and office complex in Lebanon, New Hampshire. The move, which was announced in April, is allowing R&D, engineering, business development and other corporate staff to work together under one roof, further enabling the smooth technology transfer from the lab to operating facilities.

Mascoma Corporation is an innovative biofuels company committed to developing environmentally sustainable, low cost, low carbon biofuels from cellulosic biomass. The company’s Consolidated Bioprocessing method converts non-food biomass feedstocks into cellulosic ethanol through the use of a patented process that eliminates the need for costly enzymes and additives. The company’s corporate office and R&D laboratories are based in Lebanon, New Hampshire. Mascoma is producing cellulosic ethanol on a demonstration scale at its facility in Rome, New York. Its affiliate, Frontier Renewable Resources, is developing a commercial scale production facility in Kinross, Michigan.

Source: Mascoma

For more information on: Mascoma