Joule Names Paul Snaith as New President and CEO

Joule Names Paul Snaith as New President and CEO

February 20, 2014

Bedford, MA – February 20, 2014 – Joule today announced the appointment of Paul Snaith as President and Chief Executive Officer, following his most recent post as Chief Operating Officer. He assumes the role from Noubar Afeyan, Executive Chairman and Founder of Joule, who had been serving as interim CEO.

“Based on his effective leadership during the past two years and his strong track record of delivery, Paul is the ideal choice to lead Joule as the company commences commercialization,” said Dr. Afeyan. “We have developed a proven, scalable process to directly convert waste CO2 into transportation fuels, effectively reversing combustion through the use of solar energy. Under Paul’s leadership we will begin industrializing and deploying our breakthrough technology together with key strategic partners.”

“Joule has made tremendous strides with its unique technology, and is now poised to bridge the essential steps between demonstration and a successful, replicable commercial operation,” said Dr. Snaith. “I look forward to working with the whole team to help bring our sustainable solar fuels to market worldwide.”

Dr. Snaith joined Joule in January 2012 to lead business development and strategy, and later took on the roles of Chief Business Officer and Chief Operating Officer, respectively. He previously spent 24 years at Shell in multiple roles, including Vice President of Downstream Marketing for Shell Global Solutions and Managing Director of Shell Research, Ltd., during which time he led the technology strategy for Shell’s biofuels business.

About Joule

Joule has pioneered a solar platform for the conversion of waste CO2 into valuable fuels and chemicals. This platform offers a lower-risk and higher-reward alternative to oil exploration & production by creating above-ground fuel reserves in real time, eliminating both upstream exploration and downstream refining. Joule is privately held and headquartered in Bedford, Massachusetts with operations in Hobbs, New Mexico and The Hague, The Netherlands. Additional information is available at www.jouleunlimited.com.