SYNTHETIC FUEL FIRM TARGETS INTERNATIONAL ADOPTION
Possibly the most innovative new synthetic fuel, developed by privately financed Joule Unlimited, has proven the cost effectiveness of its system during 18 months at a pilot plant in Arizona. It is now under way with construction of a plant at initial scale in New Mexico, and has taken steps true to its word last year to target international adoption. The New Mexico plant is being engineered and constructed by the world-respected Fluor Corp. with 60 offices on 6 continents.
Joule expects to eclipse the scale, productivity, and cost efficiency of any known alternative to fossil fuels with no dependence on biomass feed stocks. Joule employs proprietary bacteria exposed to solar energy, brackish water, and waste CO2 to make synthetic alcohols, hydrocarbon (drop in) fuels, and chemicals. More details at: www.jouleunlimited.com
Based on its pilot plant performance, Joule recently estimated commodity cost of $62/bbl for diesel fuel and lower cost with higher yield for ethanol at scale.
Guiding Joule’s multinational plans is a Strategic Advisory Board chaired by Cheryl Morely who spent 26 years in leadership roles with Monsanto Co. Ms. Morley is supported by a number of highly experienced credentialed executives; backgrounds also at:(www.jouleunlimited.com). Planning is well under way for a marketing launch this year.
Adding to Joule’s build-up of executive strength, the firm’s Founder and Chairman, Noubar Afeyan, has appointed Anatoly Chubais to the firm’s Board of Directors. Chubais is a prominent figure in international business, economics, and government. He is Chairman and CEO of RUSANO, a $10 billion Russian Federation owned fund created to drive commercialization in the areas of nanotech, biotech, and renewable energy, among others. Prior to joining RUSANO, Chubais was chairman of Unified Energy System, Russia’s privatized electric power holdings for which he was credited
with its formation .
As a Russian Minister of Finance under Boris Yeltsin, Chubais played a key role in Russia’s transformation to a market-based economy. Mr. Afeyan has said, “Chubais’ expertise, together with the resources made possible through the RUSANO network, will help accelerate Joule’s plans for growth and advances towards its first phase of commercial production and expansion.”
Joule’s elimination of any need for large quantities of biomass raw material is believed to be the single most difficult problem faced by traditional bio fuel firms. Combined with its other strengths, Joule may have clear reasons for targeting international markets on the road to offsetting petroleum’s related geopolitical, environmental, and wealth distribution negatives.