Joule, the pioneer of direct, solar recycling of CO2-to-liquid fuels, announced today that its platform was awarded the 2015 Technology Innovation Award by Frost & Sullivan. The award, which recognizes organizations addressing unique and critical challenges, was presented to Joule for its ability to recycle waste carbon dioxide (CO2) into drop-in liquid fuels using sunlight.
Joule’s technology platform is an efficient and cost-effective strategy for harnessing waste CO2 and produces a drop-in fuel that can be used by the current vehicle park and infrastructure. While most competing technologies require chemical upgrading before use, Joule’s products require no further costly processing before blending directly at fuel depots, resulting in finished products that require no engine modifications. In addition, Joule’s platform does not require arable land suitable for crop cultivation or potable water. This ensures that Joule does not compete with food production and has an overall more positive environmental impact.
“To be the only organization to receive this prestigious award in 2015 is a strong validation of our innovative recycled CO2 solution. Our technology can materially change the way we think about sustainable mobility and create a powerful, scalable near-term solution to the increasingly difficult climate change challenge,” said Serge Tchuruk, President and CEO of Joule. “We’re continuously pushing the boundaries of traditional renewable fuels and this award reaffirms our position as a leader in the space. We’re honored to be recognized for transforming a big, bold idea from its research and development phase toward scale up and commercialization.”
Each year, Frost & Sullivan presents the Technology Innovation Award to the company that has demonstrated uniqueness in developing new technologies, which significantly impacts both the functionality and customer value of the new products and applications.
“Joule Unlimited Inc. has developed a breakthrough photosynthetic technology that produces drop-in fuels in an efficient single-step conversion process using waste carbon dioxide feedstock and waste brackish water. The company’s unique technology successfully addresses the challenges faced by biomass-dependent processes which are limited in their scale-up potential by variables such as proximity to and supply of feedstock, and a significant amount of arable land,” said Frost & Sullivan Industry Analyst, Priya Sharma.
Joule demonstrates its commitment to sustainability through carbon capture and utilization, as well as the use of waste brackish water in the development of its renewable fuels.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry