Joule Biotechnologies Names Bill Sims President and CEO

Cambridge, Mass.—July 27, 2009—Joule Biotechnologies, Inc., an innovative bioengineering startup developing game-changing alternative energy solutions, today announced the appointment of Bill Sims as president and CEO. Sims brings nearly 30 years of experience growing both emerging and established companies across multiple technology and product sectors. In addition to his new position, he will continue to serve on the company’s board of directors.

“Bill is exceptionally qualified to lead Joule through the next exciting phases of growth—taking SolarFuel™ liquid energy from development into widespread production and adoption,” said Noubar Afeyan, founder and chairman, Joule Biotechnologies. “In addition to his proven leadership and record of operational excellence, Bill has direct experience bringing new technologies to market against long-established incumbents—in Joule’s case, fossil fuels. We’re thrilled to see the company emerge and build a successful path to energy independence under his guidance.”

Sims’ expertise closely aligns with Joule’s strategy and diverse business model in the clean energy sector. He previously served as president and CEO of Color Kinetics, the company largely credited for pioneering intelligent LED illumination—a category that has fast become an energy-saving alternative to conventional lighting. He guided the company’s early work with the U.S. Department of Energy, which included the award of a federal grant for research and development.

Sims is also experienced in leading small, fast-growth companies, including successful paths to profitability, IPO and acquisition. His knowledge of building and leveraging intellectual property for recurring revenue, as well as early- and later-stage fundraising, will also serve Joule’s efforts.

“There is no technology or opportunity more exciting than what we’re driving at Joule,” said Sims. “The call for alternative energy sources has never been greater, and Joule’s unique system will make an impact where other approaches have fallen short; scaling to unlimited supplies of ethanol and hydrocarbons without the high production costs or environmental consequences. It’s a privilege to lead the world-class team that will take cost-competitive renewable fuels to the masses.”

About Joule Biotechnologies
Joule Biotechnologies, Inc. is tackling the global energy crisis with a game-changing, renewable alternative to fossil fuels. Its patent-pending Helioculture™ technology surpasses the limitations of other clean fuel approaches by harnessing sunlight to convert CO₂ directly into SolarFuel™ liquid energy. This direct-to-fuel conversion requires no fresh water and just a fraction of the land needed for biomass-derived alternatives, 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.

# # #