Joule Closes $70M Third Funding

Joule, a Bedford, Massachusetts-based developer of a technology platform designed to directly and continuously convert sunlight and waste CO2 to infrastructure-ready diesel, ethanol or commodity chemicals, has closed a $70m third round of funding.

Backers include Flagship Ventures and other undisclosed investors.

The company intends to use the capital to build-out and operation a facility located in Hobbs, New Mexico and slated for commissioning in the summer of 2012, which is designed to test and optimize its platform at incrementally larger scales, develop its technology and expand globally.

Founded in 2007 by Flagship VentureLabs, the company is led by President and CEO William J. Sims.



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