Mascoma Corporation,a developer of a platform to convert renewable feedstocks into chemicals used in alternative fuels, filed on Friday with the SEC to raise up to $100 million in an initial public offering. The Lebanon, NH-based company, which was founded in 2005 and booked $16 million in sales for the 12 months ended June 30, 2011 and has attracted funding from major venture capital firms, including California-based Khosla Ventures and Massachusetts-based Flagship Ventures.
Mascoma is following the footsteps of several other recently public companies specializing in the conversion of renewable resources into energy and chemicals, such as KiOR, Solazyme, Amyris and Gevo, which have been received by investors with mixed results. The firm has yet to determine an exchange but has selected Morgan Stanley, UBS, and Credit Suisse to be the lead underwriters on the deal. Terms and timing for the offering have yet to be announced.
