Mascoma Acquires SunOpta Ethanol Plant
SunOpta has sold its cellulosic ethanol producing unit SunOpta BioProcess (SBI) to US-based Mascoma for $51m to focus on its core natural and organic foods business.
The deal allowed Mascoma to form a new company with SunOpta and BioProcess to convert non-food cellulose, such as wood chips, energy crops and organic solid waste, to ethanol.
Mascoma will own about 73% of the to-be-formed Mascoma Canada while SunOpta will own 18%, and the remaining stake will be owned by the BioProcess unit.
The combined entity will operate both in the US and Canada.