Carbon-neutral fuel developer Joule taps Paul Snaith to be new CEO

Graphic taken from company website.
Graphic taken from company website.

Joule Unlimited Technologies Inc., a Bedford company focused on commercializing sustainable, carbon-neutral fuels, announced the appointment of Paul Snaith as president and chief executive.

Snaith was previously the company’s chief operating officer. He assumes his new role from Noubar Afeyan, executive chairman and founder of Joule, who had been serving as interim CEO, the company said in a press release.

“Based on his effective leadership during the past two years and his strong track record of delivery, Paul is the ideal choice to lead Joule as the company commences commercialization,” Afeyan said in a statement. “We have developed a proven, scalable process to directly convert waste CO 2 into transportation fuels, effectively reversing combustion through the use of solar energy. Under Paul’s leadership we will begin industrializing and deploying our breakthrough technology together with key strategic partners.”

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In September 2012, Joule formed a a partnership with automaker Audi AG that includes an undisclosed investment in a Joule demonstration plant in New Mexico. A long-term goal for Audi is developing vehicles that run on carbon-neutral fuels. As of that date, Joule had raised more than $110 million in funding.