Press Releases 05.24.2016
Joule appoints William J. Brady Jr. to Board of Directors
BEDFORD, Mass.--(BUSINESS WIRE)--Joule, a leading low carbon fuels company, today announced the appointment of William J. Brady Jr. to the company’s board of directors. Mr. Brady is an industry leader who brings extensive experience from his 25-year career at top-tier renewable fuels and chemicals companies.
“Bill has been instrumental in leading global efforts to create and develop the bio-based, renewable, low carbon economy. Through his work in starting and growing technology startup companies, as well as expanding large corporations while making them sustainable, he exhibits the versatility, creativity, and resilience required to be successful in this industry, and we are excited to have him join us at this pivotal time for Joule,” said Brian Baynes, Ph.D., President, CEO, and Board Member of Joule. “We continue to make rapid advancements in both our SolarFT™ and Helioculture™ technology platforms and businesses, and the development of our first commercial plant in Lakeview, OR, expected to start construction in late Q3 2016. Bill’s involvement will be essential as we transform to become both a leading R&D and commercial presence in the low carbon mobility sector.”
Mr. Brady is currently Executive Chairman of Lux Research and Monolith Materials, and CEO, Director and Co-Founder of Enchi Corporation, an industrial biotechnology company developing advanced organisms to convert cellulosic biomass to fuels. Mr. Brady previously served as President, Chief Executive Officer and a Director of Mascoma Corporation, a leading industrial biotechnology company. Mascoma’s bioconversion products produced over 3 billion gallons of biofuels prior to a successful sale to Lallemand Corporation. Prior to Mascoma, Mr. Brady was Executive Vice President of Cabot Corporation, a $3 BN specialty chemical company. Throughout his twenty-three year experience, Mr. Brady held numerous positions at Cabot in the United States and Asia, including General Manager of the $2 Billion Carbon Black business which operated 23 manufacturing plants in 17 countries. Under his leadership, the business completed significant expansions in China and Brazil, and executed a major global initiative in energy efficiency. In addition, he led the commercialization of two start-up businesses at Cabot in ink jet colorants and elastomer composites.
“The SolarFT™ and Helioculture™ platforms have the potential to produce a range of fuels at very competitive cost structures. The combination of the best biological and chemical engineering approaches are necessary to meet our global sustainability needs, and I look forward to contributing my experiences as the company continues to evolve and advance its vision and impact,” said Mr. Brady.
Joule has developed multiple technology platforms for the production of sustainable, drop-in, ultra-low carbon transportation fuels. The company has pioneered a direct CO2-to-fuel production platform, “Helioculture™,” that effectively reverses combustion through the use of solar energy. Helioculture™ applies engineered catalysts to continuously convert waste CO2 directly into renewable fuels such as ethanol and diesel. The company is also commercializing a proprietary biomass-to-liquid process, “SolarFT™,” which adds an indirect CO2 conversion capability to make renewable jet fuel, diesel, and gasoline. Flexible in its ability to utilize a variety of feedstocks, geographies, and climates, Joule’s processes enable unrivaled scalability and volume at ever reducing costs. Joule is privately held and has raised over $200 million in funding to date, led by Flagship Ventures. The company operates from Bedford, MA and Fort Collins, CO with production sites in Hobbs, NM and Lakeview, OR.