DOE AWARDS $80 MILLION TO MASCOMA FOR ETHANOL CONVERSION PLANT

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KINROSS, MICH. — Mascoma Corp., a renewable fuels company, has signed a cooperative agreement with the U.S. Department of Energy (DOE) to assist in the design and construction of a commercial-scale hardwood cellulosic ethanol facility in Kinross. The cooperative agreement provides $80 million in DOE funding. The facility will convert hardwood pulpwood to ethanol. Construction of the Kinross plant in Michigan's Upper Peninsula is expected to begin in the next three months, and is slated for completion in 2013. Kinross Cellulosic Ethanol LLC, a joint venture formed by Mascoma and Valero Energy Corp., will develop and operate the Kinross plant.

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