Joule Biotechnologies Expands Management Team

Cambridge, Mass.—October 13, 2009—Joule Biotechnologies, Inc. today announced the expansion of its senior leadership team as the company advances towards pilot-scale production of its transformative, renewable fuels. Fritz Morgan has joined as Senior Vice President of Engineering and Manufacturing, and Peter D. Karol has joined as Vice President and General Counsel.

“We believe that Joule has an enormous opportunity to alter the energy landscape with our combination of proprietary technology, systems engineering, scalability and competitive pricing. Equally valuable is the experienced management team we’ve built to bring our plans to fruition,” said Bill Sims, President and CEO, Joule Biotechnologies. “Having previously worked with both Fritz and Peter, I have first-hand knowledge of the respective strengths they bring in guiding small, fast-growth companies from the development stages to commercial success.”

Mr. Morgan will oversee Joule’s SolarConverter™ system development, applying expertise in light management, thermal management, cost-effective controls and systems engineering. Prior to Joule he was Chief Technology Officer of Color Kinetics, the company largely credited for pioneering intelligent LED illumination. For 11 years he led the development of the company’s product lines, technologies and market applications, and contributed to many of its core patents. Following its acquisition, Mr. Morgan supervised LED system development across multiple international R&D centers for Philips Lighting. He previously worked as a research scientist at Mitsubishi Electric Research Lab.

Mr. Karol will supervise all aspects of Joule’s legal strategy, including business agreements, labor and employment, intellectual property, regulatory and litigation management. He was previously General Counsel at Color Kinetics through its acquisition by Philips. Prior to Color Kinetics, he spent five years at Lycos, Inc., an online portal, where he rose to the position of General Counsel. Prior to Lycos, Mr. Karol was Deputy General Counsel for publicly traded and privately held healthcare companies.

About Joule Biotechnologies
Joule Biotechnologies, Inc. is tackling the global energy crisis with a game-changing, renewable alternative to transportation fuels. Its patent-pending Helioculture™ technology surpasses the limitations of biomass-derived fuel approaches by using sunlight to convert CO2 directly into Joule™ liquid energy. This direct-to-fuel conversion requires no fresh water and minimal non-agricultural land, avoids costly intermediaries and processing, and finally enables the scale, unlimited quantities and pricing required for energy independence. Founded in 2007 by Flagship Ventures, Joule is privately held and headquartered in Cambridge, Massachusetts. Additional information is available at www.joulebio.com.