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RUSNANO invests into renewable fuel technologies

RUSNANO invests into renewable fuel technologies

Copyright 2011. SKRIN. All rights reserved.
State-owned nanotechnologies development company RUSNANO co-invested into development of renewable fuel production technology, developed and owned by the firm Joule Unlimited, RUSNANO reports. Total RUSNANO's investment into the project is reportedly to come in at up to $35m. RUSNANO's funds are to be spent on improvement of technology, as well as setting up Joule's R&D center in Russia under the company's international development plan. While traditional biofuel uses biomass as a raw material for production, the renewable fuel, under the Joule technology is produced on an uninterrupted cycle directly from the carbon dioxide under sunlight influence, which results in better efficiency if compared to existing methods of biofuel production. Besides, expansion of the project will not require a lot of farm land or large amounts of clean water.

Diesel fuel and ethanol, produced under the Joule technology, don't need any additional treatment and are ready for us in the existing infrastructure. In industrial conditions, the Joule technology allows to obtain up to 140,000 liters of diesel fuel and 230,000 liters of ethanol from one hectare annually. The price of this fuel is highly competitive if compared to normal fuel. Currently Joule is testing the technology in the USA. The demo plant is scheduled to be launched in 2012, and commercial production is to start in 2013. "Alternative energy is one of priority directions for RUSNANO, that is why we chose to invest in the advanced technology of renewable fuel production, developed by Joule. Setting up the R&D center and further commercialization of this technology in Russia will make our country become on the leading global players in the sector. The technology is not just economically effective, but also has great environmental significance, as it allows to utilize industrial waste of carbon dioxide," Georgy Kolpachev, the managing director of RUSNANO said. "We are thankful to RUSNANO for their support at the stage of development of our global presence and technology commercialization. This support reflects recognition of the Joule's advanced technology, and opportunity to open the R&D Center in Russia adds to the company's plans to expand in Europe, Middle East and Mexico," Bill Simms, the President and CEO of Joule, said. /

Date:  11.10.2011

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