This acquisition brings together the fiber preparation and pretreatment technologies of SBI and the consolidated bioprocessing technology of Mascoma to create a company with comprehensive capabilities for converting non-food cellulose into ethanol, Mascoma said.
The transaction has received all necessary corporate approvals and SBI will operate as Mascoma Canada.
Mascoma CEO Bill Brady said that the combination of the companies significantly advances Mascoma’s capabilities in the cellulosic ethanol field and positions it for a successful future.
The transaction will be funded via a combination of preferred and common shares in Mascoma.
