Mascoma Corporation, yet to break ground on its Kinross, Michigan non-food cellulosic ethanol facility, plans to raise up to $100 Million in an initial public offering (IPO) of stock.  The company has developed technology and genetically modified yeast with the potential to cut the cost of breaking down cellulose and fermenting the sugar.  It is already producing ethanol from wood on a demonstration scale at its facility in Rome, NY, and its affiliate Frontier Renewable Resources is developing the commercial operation at Kinross.  The air permit for the facility was issued in July.  Investors in the parent company include General Catalyst Partners, Kleiner Perkilns Caufield & Byers, VantagePoint Venture Partners, Atlas Venture, Valero, General Motors, Pinnacle Ventures, Flagship Ventures, Khosla Ventures, U.S. Department of Energy, State of New York, and the State of Michigan.