Joule Unlimited Technologies Inc., a Bedford company focused on commercializing sustainable, carbon-neutral fuels, said Monday that it has formed a strategic partnership with automaker Audi AG that includes an undisclosed investment in a Joule demonstration plant in New Mexico.
Under the partnership, Audi will help Joule in its goal to commercialize Sunflow E and Sunflow D, sustainable transportation fuels designed for the ethanol and diesel markets, Joule said in a press release. Those fuels are derived from sunlight and waste carbon dioxide.
One long-term goal for Audi is developing vehicles that run on carbon-neutral fuels, and its partnership with Joule aligns with that objective. Joule will benefit from Audi’s expertise and global reach as well as from the strength of its brand, Joule’s press release said. For its part, Audi will have “a first mover advantage’’ as Joule’s exclusive partner in the automotive sector.
In a statement, Joule president and chief executive William J. Sims said, “This relationship brings us one step closer to our goal of delivering Liquid Fuel from the Sun to vehicles everywhere.’’
Joule recently opened a demonstration plant for its Sunflow E fuel in Hobbs, N.M. Joule is privately held and has raised over $110 million in funding to date.