Is Joule's diesel fuel the same as biodiesel?
No. Biodiesel and diesel are two distinct forms of fuel, with different chemical composition, manufacturing processes and market opportunities. At a molecular level, biodiesel is composed of fatty alkyl esters, whereas diesel is composed of hydrocarbons. Although Joule has the technical capability to produce both forms of fuel, we are developing diesel – not biodiesel. This distinction is important for a several reasons.
- According to OPEC's 2009 World Outlook, world demand for middle distillate fuel, chiefly diesel, will grow faster than any other refined oil product to 34.2 million barrels per day by 2030. It's already the #1 transportation fuel in Europe, and represents 28% of the US fuel market. Joule's diesel fuel is directly targeting this very same global market – requiring no engine modifications or changes to existing transportation infrastructure.
- Biodiesel is not a direct replacement fuel because it can only be blended with conventional diesel at a low percentage. Biodiesel also has known performance and fuel economy disadvantages as compared to diesel.
- Joule has developed and patented a highly-efficient process for converting waste CO2 directly into liquid hydrocarbons (alkanes), requiring no processing, cracking or refining. By contrast, the process for making biodiesel, which is derived from vegetable, animal or algal oils and fats, is dependent on raw material feedstocks, costly harvesting and downstream processing. This results in higher production costs and higher market pricing that impede the use of biodiesel in place of affordable diesel fuel.