Startup Joule has secured the money to take its potentially breakthrough biofuel technology to a larger scale.
The company today announced that undisclosed private and institutional investors led a $70 million funding to build a larger demonstration plant. The announcement was made at the Technology Leaders in Future Energy conference in Abu Dhabi. Founding investor Flagship Ventures also joined the round.
Founded in 2007, Joule took a clean-sheet approach to making biofuels which now are primarily made from corn or sugar cane. Its process uses a genetically engineered version of cyanobacteria to produce diesel or ethanol using only sunlight, water, … Read more