Recession hurting cellulosic ethanol

Ethanol's promise fading?

"Because of the upheaval in the capital markets," CNET is reporting that "Mascoma cannot go public to raise additional funds, and institutional investors are being more cautious now. So the company is positioning itself to hold on to cash as long as possible."

Thus, the company is laying off employees.

Unfortunately, Mascoma is one of the few well-funded cellulosic ethanol companies out there, and if cellulose is the future of biofuels, the future of biofuels isn't looking too promising.