Technical Abstract: Cellulosic biomass, because of its massive availability, represent a feedstock source for production of ethanol and other fuels. Proposed processes based on cellulase enzymes combined with yeast fermentation have received intensive study but are currently not economical due to high enzyme cost and lack of a high-value co-product. An alternative cellulosic ethanol platform, consolidated bioprocessing (CBP), is limited by poor ethanol yields and concentration, but recent research efforts have begun to yield results that support some of the platform’s theoretical advantages. One potential benefit of CBP processes is the potential to produce higher value co-products, including a novel plywood adhesive, that would improve process economics.