Joule Unlimited Technologies Inc. is developing more than just promising technology, the Cambridge, Mass. –based company has won the Silver in this year’s Wall Street Journal Technology Innovation Award for its transformational approach to highly-efficient renewable fuel production.
Bill Sims, President and CEO of Joule said, “We are honoured to be the Wall Street Journal’s choice for the most innovative energy company, and to be recognized even beyond our industry as one of the world’s top innovators overall.”
He added “We started with a big idea – the direct conversion of sunlight to fuel without raw material feedstocks – and four years later we’ve proven the process, optimized the technology, built a strong patent portfolio and laid the groundwork for commercial production to begin in 2013. We will bring much-needed scalability and infrastructure-readiness to the renewable fuels space, with a platform that can yield multiple products, including valuable, fungible diesel fuel vs. a blendstock like biodiesel. We appreciate this recognition of our company’s efforts to successfully innovate outside of today’s common ‘biofuel’ definition.”
Joule’s Helioculture™ platform has created genetically engineered micro-organisms that secrete ethanol, diesel fuel and other hydrocarbons from water, sunlight and carbon dioxide. The use of these patented organisms eliminates some of the costly processing steps needed to turn plants into motor fuel.
The company has developed a novel SolarConverter® system to enable the direct, continuous process with productivities that are up to 100x greater than biomass-dependent methods. Joule can directly produce up to 15,000 gallons of diesel and 25,000 gallons of ethanol per acre annually using sunlight, non-potable water and waste CO2 from industrial emitters or pipelines.
Kenny Tang, founder and chief executive of Oxbridge Weather Capital and an Innovation Awards judge said “the technology has the exciting potential to significantly transform the economics of the biofuel industry.”