Biofuel company Mascoma cuts staff, including president
Mascoma Corp., a biofuel company with offices in Boston, said it has laid off five to 10 employees, including its president and two vice presidents.
"This is frankly being driven by what's going on in the capital markets," said Bruce Jamerson, Mascoma's chief executive.
Among those leaving the company is president Colin South, who helped found Mascoma in 2005. The company's goal is to find a quicker, cheaper way to make biofuel that uses nonfood plant residue and other waste as its main ingredients. Scientists at a Mascoma lab in Lebanon, N.H., have been working to streamline the brewing process. Jamerson has said he hoped to test drive vehicles that run on Mascoma fuel by the end of the year.
Jamerson called South a "great guy" for whom he has "a lot of respect."
In a telephone interview, South said the terms of his departure are "pretty straightforward."
"I spent a lot of long, hard hours getting things started, and there are some great, strong leaders there now," said South, who plans to consult for Mascoma for several months. "It's always good to challenge yourself and find something new to do."
Erin Ailworth can be reached at eailworth@globe.com. 