Sustainable Energy

Solar Fuel Company Gets $30 Million Investment

Joule Biotechnologies has completed its second round of funding.

Apr 27, 2010

A company that we featured this year as part of our list of top 10 emerging technologies (the TR10), Joule Biotechnologies, today announced that it had pulled in a second round of funding. It will use the money–$30 million–to push forward on a pilot plant it’s building in Leander, TX, near Austin. The company says its on track to start “high-capacity” production of diesel in 2012.

The company has developed a system that using genetically engineering photosynthetic organisms to convert carbon dioxide and water–with energy from sunlight–into diesel fuel (another similar system makes ethanol). Read more here.