Joule Unlimited secures 1,200 acre site for making ethanol and diesel from sunlight and CO2

[JohnWxy]

http://www.sunherald.com/2011/05/05/3085384/joule-secures-first-of-multiple.html


CAMBRIDGE, Mass. -- Marking another milestone in its advance towards commercialization, Joule Unlimited, Inc. today announced the signing of a lease agreement providing access to 1,200 acres in Lea County, New Mexico, with the potential to scale the project up to 5,000 acres for production of renewable diesel and ethanol directly from sunlight and waste CO2. The agreement with Lea County is the first to be completed as part of Joule’s production facility siting program.

“This is an exciting first step for Joule in an effort to secure multiple optimal sites for demonstration, both within and beyond the United States, and to ultimately commercialize our process at the scale, costs and productivities that can make a strong impact in the global fuels market,” said Bill Sims, President and CEO of Joule. “In stark contrast to the complex, energy-intensive processes required to produce biofuels from biomass, Joule is forging ahead with a platform for high-volume production of renewable, infrastructure-ready diesel and ethanol at stable, competitive costs. We thank the state and Lea County officials for their tremendous support of this project.”

Lea County ideally meets Joule’s requirements for production, including high solar insolation, access to non-potable water and waste CO2. In addition, Joule could benefit from $19 million in state incentives to facilitate operations at commercial scale. This includes a tax credit made possible by the Advanced Energy Product Manufacturers Tax Credit Act, which the state legislature voted to amend in recognition of new, breakthrough processes like Joule’s that merit qualification.

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Joule’s production facilities will employ the next generation of the company’s novel SolarConverter® system, which manages the direct, continuous process from photon capture to product synthesis and separation with efficiencies that are up to 50X greater than those of biomass-dependent processes. At full-scale production, Joule expects to deliver diesel and ethanol for as little as $20/bble and $0.60/gallon respectively, including current subsidies.
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