The New Yorkers may have something to cheer about soon (No, the Knicks was deleted from the list of things to cheer about long ago) and it may come in the form of a $20 million test plant that would produce Bioethanol from any cellulosic substance!

According to this article, a demonstration plant that will make fuel from wood chips, switch grass, and waste from the paper industry. Will soon rise in Rochester through the efforts of Mascoma Corporation, a privately held group composed of investment bankers and venture capitalists.

Although the plant will be producing a mere 500 thousand gallons per year, this development would mark the start of larger scale developments in the US along the cellulosic ethanol lines! What a development, dont you think?