CAMBRIDGE, Mass. - Joule Unlimited, Inc., pioneer of Liquid Fuel from the Sun™, today announced its recognition by Red Herring as one of the 100 most promising private technology companies in North America. As a winner of the prestigious, annual distinction, Joule joins the ranks of Google, Yahoo!, Skype, YouTube and other past winners who were identified as leading “the next wave of disruption and innovation.”
The Red Herring award comes on the heels of two other distinctions for Joule this month: selection to the AlwaysOn East Top 100, a list of the top private companies in the eastern US; and inclusion among Biofuels Digest’s 30 Most Transformative Technologies of 2010.
“It’s an honor for Joule to be recognized among North America’s top emerging companies, reflecting our vision for a new, sustainable oil industry and the great strides we’ve made towards its realization,” said Bill Sims, President and CEO, Joule.
“Just three years into development, we’ve created a technology and system with productivities that eclipse current biofuel production methods, while rivaling the costs of fossil fuels and scaling to meet massive demand – all without reliance on arable land, biomass feedstocks or fresh water. This is not an incremental advancement, but rather a world-changing solution to the very real problem of fossil fuel dependence, and we appreciate Red Herring’s acknowledgement of a technology that defies conventional categories.”
“Choosing the companies with the strongest potential was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “After rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across North America to the Top 100 Winners. We believe Joule embodies the vision, drive and innovation that define a successful entrepreneurial venture. Jouleshould be proud of its accomplishment, as the competition was very strong.”
Joule and other nominees were evaluated on both quantitative and qualitative criteria, including technology innovation, quality of management, execution of strategy, and integration into their respective industries. During the several months leading up to the announcement, hundreds of companies in the telecommunications, security, Web 2.0, software, hardware, biotech, and clean tech industries submitted entries to qualify for the top 100. Additional information is available here.