General Motors Corp. is hedging its biofuels bet, announcing today it is investing in a second nascent cellulosic-ethanol developer as it looks to help drive the market for alternative fuels. GM declines to reveal the amount of equity it is taking in 3-year-old, Boston-based Mascoma Corp., which it says has developed an inexpensive thermo-chemical process to make ethanol from non-grain sources. The strategic tie-up is the second for GM in the cellulosic-ethanol field. In January, the ...

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