BEDFORD, Mass.--(BUSINESS WIRE)--Joule, the pioneer of direct, solar conversion of CO2-to-liquid fuels, announced today that Serge Tchuruk has been named President and CEO to lead the company in its next phase of development aimed at commercialization. As the former Chairman and CEO of Alcatel and Total SA, Tchuruk, who was appointed to Joule's board of directors in July, is uniquely positioned to lead Joule as it industrializes its CO2-to-fuel production platform. Tchuruk succeeds Paul Snaith, who has resigned as President and CEO, a position he held since early 2014.
"As Joule undergoes a natural transformation from its research and development roots towards scale-up and commercialization, we are thrilled to appoint someone with such a strong vision and proven execution to lead the organization," said Noubar B. Afeyan, PhD, Joule Founder and Chairman. "Serge brings a wealth of knowledge and global experience to Joule, and he will provide invaluable perspective to the organization as we commence early stages of commercial deployment."
Tchuruk brings deep-rooted experience in technology and global business to Joule. Most recently, Tchuruk was Chairman and CEO of Alcatel, a global telecommunications company, leading Alcatel's merger with Lucent Technologies in 2006. Following the merger, he served as Chairman of the board of Alcatel-Lucent until 2008. Prior to that, he served as Chairman and CEO of TOTAL, one of the world's leading oil and gas companies.
"As someone who understands the challenges associated with the oil and gas industry, I recognize that renewable fuels are a necessity to ensure an environmentally sustainable supply of a vital enabler of our combustion-based economy. Joule is leading the charge," said Tchuruk. "I’m grateful to be given the opportunity to lead an organization that masters a truly game-changing technology in the world of energy and am confident I will help Joule make a commercial success of its CO2-to-fuel process."
About Serge Tchuruk
Serge Tchuruk started his career at the Mobil Corporation, where he held various management positions in France and the USA from 1964 to 1979, then with Rhône-Poulenc, where he was named CEO in 1983. He served as Chairman and CEO of CDF-Chimie/Orkem from 1986 to 1990, then as Chairman and CEO of TOTAL, one of the world’s leading oil and gas companies, from 1990 to 1995. In 1995, he became Chairman and CEO of Alcatel, a global telecommunications company, leading Alcatel’s merger with Lucent Technologies in 2006. Following the merger, he served as Chairman of the board of Alcatel-Lucent until 2008.
During his career, Tchuruk has served or continues to serve on many boards, including roles as a director of Thales, Institut Pasteur, Société Genérale, and Vivendi. He has also served as a member of the board of Ecole Polytechnique and on the advisory council at Banque de France.
He is a graduate of the École Polytechnique in France, and an engineer in defense technologies. He is Officer of the Legion of Honor and was awarded several management prizes during his career.
About Joule
Joule has pioneered a CO2-to-fuel production platform, effectively reversing combustion through the use of solar energy. The company’s platform applies engineered catalysts to continuously convert waste CO2 directly into renewable fuels such as ethanol or hydrocarbons for diesel, jet fuel and gasoline. Free of feedstock constraints and complex processing, Joule’s process can achieve unrivaled scalability, volumes and costs without the use of any agricultural land, fresh water or crops. Joule is privately held and has raised over $160 million in funding to date, led by Flagship Ventures. The company operates from Bedford, Massachusetts and The Hague, The Netherlands, with production operations in Hobbs, New Mexico. Additional information is available at www.jouleunlimited.com.
