“Joule was founded in 2007. In the last year, it’s roughly doubled its employees to 70, closed a $30 million second round of private funding in April and added John Podesta, former White House chief of staff under President Bill Clinton, to its board of directors.”
Rest assured, it’s a scam!
See that last link. It doesn't look like a scam to me.
I agree. Next they'll have ManBearPig in their TV advertisements.
I am skeptical but of course I support their efforts and wish them the best fortune. I am skeptical because I sense some unstated tradeoffs or drawbacks. One expert indicated that the process may just be substituting one bottleneck (distilling diesel from foodstock or biomass) for another bottleneck (separation of diesel from water). I cannot evaluate this potential tradeoff but I feel confident that this process is not a free lunch.
My other concern involves biodiesel subsidies and mandates. The 2007 energy bill has enormous mandates for biofuels. I am concerned that this technology will be brought to market to satisfy the mandate regardless of its viability.
Joule Elects Former White House Chief of Staff John Podesta to Board of DirectorsCambridge, Mass.
–January 18, 2011 –
Joule Unlimited, Inc., pioneer of Liquid Fuel from the Sun™, today announced the election of John Podesta to its board of directors. A veteran of two White House administrations, Mr. Podesta will bring considerable expertise to Joule in the realm of public policy as well as partnering with the public sector.
"Since inception, we've sought the guidance of truly world-class directors and advisors to help Joule convert a promising concept into a successful and potentially industry-changing enterprise. We are thrilled to welcome John to the team, given his extensive experience within the US government and internationally as well," said Bill Sims, President and CEO of Joule. "As a leading expert in technology policy and a known advocate for clean energy, John is an ideal champion for Joule, and we look forward to leveraging his insights as we progress towards international deployment."
Mr. Podesta's accomplished career on Capitol Hill spans 30 years. He is currently President and CEO of the Center for American Progress, a "think tank" organization that he founded in 2003 to help develop and advocate for progressive policy. He was previously White House Chief of Staff to President Clinton, serving in the president's cabinet and as a principal on the National Security Council. He also served as both an assistant to the president and deputy chief of staff, as well as staff secretary and a senior policy advisor on government information, privacy, telecommunications security, and regulatory policy.
Most recently, Mr. Podesta served as co-chair of President Obama's transition, where he coordinated the priorities of the incoming administration's agenda, oversaw the development of its policies, and spearheaded its appointments of major cabinet secretaries and political appointees. His prior positions on Capitol Hill included counselor to Democratic Leader Senator Tom Daschle; chief counsel for the Senate Agriculture Committee; and chief minority counsel for the Senate Judiciary Subcommittees on Patents, Copyrights, and Trademarks; Security and Terrorism; and Regulatory Reform.
"There is no question that clean energy innovation and adoption are among the top economic and security priorities for our nation, and it's critical that we focus on breakthrough technologies, particularly for liquid fuels, that can sometimes fall through the legislative cracks," said Mr. Podesta. "I have seen and heard many proposals by renewable energy companies, and can unequivocally say that Joule has a technology and a system unlike any other, with industrial viability and a clear path to market within the next several years. It's an honor to join the board of a big-thinking category creator like Joule."
"Joule has an ambitious vision for the future of transportation fuels, with the ability to bring energy security to the US and to other regions around the world," said Noubar Afeyan, Founder and Chairman of Joule, and Managing Partner of Flagship Ventures. "With the valuable addition of John to our board, we've gained the strategic insights and support of a long-time government expert who can help Joule build the lasting relationships needed for long-term success."