Mascoma Appoints William J. Brady as Chief Executive Officer
New Leadership Reflects Company’s Transition into Commercial Operations
Lebanon, New Hampshire – January 7, 2010: Mascoma Corporation today announced the appointment of William J. Brady as the new Chief Executive Officer, effective immediately. Mr. Brady will also join the Boards of Directors of Mascoma and Frontier Renewable Resources, LLC. With twenty-three years of experience at Cabot Corporation, a chemical industry leader, Bill is poised to lead Mascoma into full commercial operations.
“I am delighted to introduce Bill Brady as the new CEO of Mascoma and to work closely with him on achieving our goal of full scale commercial production of cellulosic ethanol,” stated Bruce Jamerson, Chairman of Mascoma and Frontier Renewable Resources, LLC. “Bill has extensive experience running large commercial divisions for a major chemical company, which is exactly the skill set we need as Mascoma transitions into a commercial enterprise. Additionally, his strong international experience will be critical as Mascoma begins to penetrate international markets.”
Until assuming his new role at Mascoma, Mr. Brady served as Executive Vice President and General Manager of several operating divisions at Cabot Corporation, leading business units from technical development through successful commercialization, as well as managing global capital-intensive businesses and developing strategic relationships with large global customers. Mr. Brady has a MBA from Fairleigh Dickinson University and a degree in chemistry from University of Scranton.
“I am honored and excited to be assuming the role of CEO of Mascoma,” said Mr. Brady. “I am truly impressed by the mission, talent and potential of Mascoma and look forward to working with our very strong leadership team to take this company and the cellulosic biofuels industry to full scale commercial operation.”
Mr. Brady will work with the team to help achieve Mascoma’s technical and commercial milestones, including continuing to reduce costs for ethanol produced from cellulosic feedstocks, developing additional partnerships for Mascoma’s commercial-scale ethanol project in Kinross Township, Michigan and creating strategic joint ventures to commercialize Mascoma’s proprietary Consolidated Bioprocessing (CBP) technology for production of advanced biofuels and chemicals.
Concurrent with the appointment of Mr. Brady, Mascoma’s Acting President Jim Flatt will continue as Executive Vice President, Research & Development/Operations, where he will continue active oversight of and participation in Mascoma’s R&D and Operations efforts, supporting Frontier’s development efforts as well. Bruce Jamerson will continue as Chairman of Mascoma and Frontier.
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.
617-443-9933 x357 (office)