Joule Unlimited raises $30M for Texas renewable energy plant
The Massachusetts-based company developing a diesel and ethanol pilot production plant in Leander, Texas has raised $30 million, National Venture Capital Association reported this week.
Cambridge, Mass.-based Joule Unlimited Inc., formerly Joule Biotechnologies Inc., did not name the investors, but will use some of the funding for the Central Texas project, according to reports.
In February, the company signed a one-year lease for a five-acre plot to house the Leander plant, which is slated to open this summer. The machinery uses technology that produces renewable fuels using untreated water, carbon dioxide and a tiny organism.
The renewable energy plant near the city's sewage treatment plant will employ about 10 people.
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