Joule Wins Wall Street Journal Award
Joule Unlimited Technologies has received the 2011 Wall Street Journal Technology Innovation Award in the Energy category and was also named the Silver award winner across all of the competition’s 16 categories, from more than 600 entries around the globe.
“We are honored 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,” said Bill Sims, President and CEO of Joule.
“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,” said Sims.
As stated in the Journal’s report by Kenny Tang, one of the independent judges and founder & CEO of Oxbridge Weather Capital, “In bypassing the limitations of expensive processes in conventional biofuel production, Joule’s technology has the exciting potential to significantly transform the economics of the biofuel industry. If translated into wider use, it is a potential game changer—it could become a cost-effective replacement to petroleum on a much wider scale than previously possible, especially with its non-reliance on biomass.”
Using sunlight and waste CO2 from industrial emitters or pipelines, Joule anticipates commercial production of up to 15,000 gallons of diesel and 25,000 gallons of ethanol per acre annually, at stable costs as low as $20/bble and $0.60/gallon respectively, including subsidies. The company has been conducting pilot operations and expects to begin construction of its first demonstration-scale plant this quarter.
4 Comments »
Uaw wild Bob
what about the E cat device that was claimed to be a success by Andrea Rossi
Alex
If this is real and the prices quoted are true at $0.60/gallon, then this may solve all the world’s energy problems. This would be so considering that volcanoes emit 20 times what we anthropogenically emit into the atmosphere.
But then there’s the problem of land area, since this needs one acre tp produce 15,000 gallons of diesel per year, which is peanuts.
BILL
I use ~500 gal of fuel per year commuting. Sounds fantastic, considering millions of acres in sunny Southwest available.
Mike
If this process can work, get going! We need a massive ramp-up to such solutions now, before we pollute ourselves and the world into oblivion.
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