Joule Unlimited has been working on a process out of which diesel and ethanol are produced. No big news there. However, it is the process itself which looks to be the game changer. Using photosynthesis and CO2 waste, their claiming an ability to create diesel at $30/barrel.

Still privately held, I for one, can't wait for this IPO...


http://www.jouleunlimited.com/
http://www.dailytech.com/Organism+Secretes+Renewable+Fuels+Using+CO2+Water+Sun/article21017.htm

If it actually works. It wouldn't be the first time someone claims to have made a breakthrough only never to be heard off again. I hope it works, but I wouldn't bet any money on it.

It doesn't really seem like the company's accomplishments or plans have changed a lot since this article in 2009, except that their target dates have moved out:

http://www.nytimes.com/gwire/2009/07/27/27greenwire-start-ups-biofuel-recipe-mixes-co2-slime-and-su-7562.html

They secured site for their pilot in 2010 with the claim it would be complete in 2H 2010:

http://www.jouleunlimited.com/news/2010/joule-biotechnologies-secures-pilot-site-renewable-solar-fuel

But clearly, that's not done yet, nor is the commercial facility. Their website says:

"Joule's pilot operations are currently underway, with commercial development to begin in 2012."

It's hard to know what's going on behind the scenes and if that's as bad a sign as it would seem at first glance. Delays have a way of finding their way to new tech projects. But at the same time... I wouldn't be putting my money on it either.