2nd PIC 2015 Joule: Liquid transportation fuels
To enable carbon-neutral mobility by recycling waste CO2 into cost-competitive, drop-in fuels.
Our first products targeted for commercialization are fuel grade ethanol and diesel. We also have the capability to make components of jet fuel and gasoline, in addition to chemicals.
Plans for future development
We are undertaking a staged industrialization process, culminating in the construction of a 1000-acre commercial plant in 2017. We have already identified 1,000+ sites around the world that would satisfy our requirements for sunlight, waste CO2 and non-potable water. In the near term, we will expand the production field at our facility in Hobbs, NM to further demonstrate the scalability of our system.
Key achievements to date
- Invented genetic tools for proprietary biocatalyst construction
- Discovered pathways for production of multiple fuel and chemical products
- Designed first-of-its-kind SolarConverter reactor system to enable continuous fuel production
- Built pilot- and demonstration-scale facilities for field testing and validation of process
- Formed a strategic partnership with AUDI AG
- Conducted third-party testing to confirm that Joule’s ethanol, diesel and jet fuel products will meet industry specifications
- Amassed a substantial IP portfolio, currently encompassing 61 patents and allowances plus 95+ applications pending
- Global recognition as a World Economic Forum Technology Pioneer, Bloomberg New Energy pioneer, and Wall Street Journal Technology Innovation Award Winner, among others
Key executives at the 2015 Circle, Tokyo
About the market
Joule targets the mobility sector with renewable, drop-in fuels that can achieve meaningful scale and competitive costs. Joule also targets the growing market for carbon mitigation solutions, as its process consumes industrial CO2 emissions from power generation, cement manufacturing, steel manufacturing and others – all of which are increasingly under pressure to lower their carbon footprint.
The global fuel ethanol market is expected to reach US $98.5 billion by 2017. The global diesel market is expected to grow from $700 billion in 2012 to $900 billion by 2030.
Joule is the only known company able to convert CO2 directly to ethanol and hydrocarbons in a single-step conversion process. Some of the companies with which Joule is typically categorized are Algenol, Sapphire Energy, LanzaTech, and Synthetic Genomics.
Limited energy supplies, oil pricing volatility and climate change concerns have converged to create one of the greatest challenges of our time. Governments around the world are proposing carbon reduction plans in line with COP21, and there is increasing urgency to alleviate global dependence on fossil energy. These trends will support global deployment of Joule’s CO2-to-fuel platform.
What is your vision for your company?
Joule’s vision is to enable carbon-neutral mobility. We will achieve this with a solar-driven, reverse-combustion process that consumes the same amount of CO2 that is emitted when our fuels are burned – thus closing the “carbon loop.”
Who is your target customer?
Joule’s primary target is the mobility sector, including producers/refiners of transportation fuels and the “off takers” or fuel users. These may include oil and gas companies, transportation fleets, airlines, etc. We also target customers seeking CO2 mitigation solutions.
What benefits does your company offer its customers?
Joule’s technology provides the powerful two-fold advantage of yielding cost-competitive, renewable fuels and recycling waste CO2 emissions in the process. By using waste CO2 as a feedstock, we create valuable products from waste streams that may otherwise be discarded, taxed or stored.
How do you think your company is different from the rest?
Joule is the only known company able to produce ethanol and hydrocarbons directly from waste CO2 in a single-step conversion process, with no reliance on biomass. Unlike conventional biofuels, the process spares the depletion of arable land, fresh water and crops.