Cellulosic Ethanol Producer Joule Names Serge Tchuruk as President and CEODate Posted: November 13, 2014 Bedford, Mass. — November 13, 2014 — 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." For more information, please contact Rachel Schlacter at 617-426-2222 or [email protected] Advanced Biofuels
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