Joule announces BNEF award, and progress with gasoline, jet fuel
On April 23 Joule Unlimited announced it was selected as a 2013 Bloomberg New Energy Pioneer by Bloomberg New Energy Finance. The award aims to recognize game-changing clean energy companies. A total of 10 winners were announced this year. Joule was the only biorefining company selected to receive a 2013 award.
“It is an honor to join this prestigious group of innovators, and to be recognized for delivering an approach to renewable fuel production that circumnavigates today’s biomass-dependent norm,” said William Sims, president and CEO of Joule. “We have effectively turned industrial CO2 into the feedstock of choice, leveraging waste streams to produce valuable, fungible fuels at costs that can finally compete with fossil fuels, even without subsidies. By this time next year, we expect to be well into construction of multiple commercial facilities designed to tap abundant waste CO2 and achieve productivity rates well beyond those of biomass-derived biofuels.”
Earlier in the month, Joule announced it had expanded its technology to produce biofuels other than ethanol. On April 15 the company announced it achieved the direct conversion of waste CO2 into the essential components of gasoline and jet fuel. Joule’s Sunflow line of products is produced through the use of photosynthetic biocatalysts. According to the company, it has been successfully scaling its Sunflow-E process to produce ethanol and is developing its Sunflow-D process to produce long-chain hydrocarbons for diesel. The new developments relate to its Sunflow-G and Sunflow- J processes for medium chain hydrocarbons for gasoline and jet fuel.
“Though many technological paths are being pursued to help supplant fossil fuels, the majority have followed the same direction – beginning with biomass feedstocks and facing the well-known challenges of cost and scale along the way. Joule’s solar technology is bypassing these challenges while converting a waste stream into cost-competitive hydrocarbon fuels, which will have far greater and faster impact than low-percentage blendstocks or transportation alternatives that require major infrastructure overhaul,” Sims said.