JOULE ELECTS RUBEN VARDANIAN TO BOARD OF DIRECTORS

June 3, 2010

Cambridge, Mass. – June 3, 2010 – Joule Unlimited, Inc. today announced the election of Ruben Vardanian to its board of directors, gaining the strategic insight of a highly-accomplished, international business leader.

Mr. Vardanian is Chairman and CEO of Troika Dialog, Russia’s oldest and largest investment bank, which he has led since 1992. Since that time he has played a prominent role in Russia’s fledgling capital markets and established Troika as the pre-eminent local investment bank in Russia and other major CIS countries. He is also President of the SKOLKOVO Moscow School of Management, supported by leading Russian and international private investors with an objective to form a benchmark-setting educational establishment for local and international entrepreneurs.

“Having known and worked alongside Ruben for many years, I can confidently call him an invaluable addition to Joule’s board of directors,” said Noubar Afeyan, Founder and Chairman, Joule and Managing Partner and CEO, Flagship Ventures. “He has a remarkable sense for identifying up-and-coming ventures and extending their success to international markets, leveraging his considerable network of contacts and ability to implement winning financing strategies.”

“With our vision for fossil fuel replacement and a rapid path to commercialization, we’re incredibly fortunate to have the expertise and guidance of a renowned leader like Ruben, particularly in relation to our opportunities for international deployment,” said Bill Sims, President and CEO, Joule. “We aspire to be a global company, and Ruben’s track record of success in international business is without peer.”

“Joule has an opportunity to finally resolve the world’s dependence on fossil fuels, matching its bold vision with a strategy and a system that make renewable fuels scalable, sustainable and economically viable,” said Mr. Vardanian. “I’m very pleased to join the board of a company that will make history as it transforms the global energy landscape for the better.”

Mr. Vardanian is a member of the Management Committee of the Russian Union of Industrialists and Entrepreneurs, the most influential and widely represented association of businessmen in the country.  He also serves as Chairman of the Union’s Corporate Governance Committee, as well as Arbiter of its United Committee on Corporate Ethics.

He is board Chairman or member of numerous organizations, including Ameriabank, the leading bank in Armenia; OJSC AvtoVAZ, the largest car manufacturer in Eastern Europe; OJSC KAMAZ, the largest truck manufacturer in Eastern Europe; OJSC AK BARS Bank, the largest bank in the Republic of Tatarstan; OJSC NOVATEK, the largest independent gas producer in Russia; and Standard Bank Plc, the leading financial institution in emerging markets internationally. 

About Joule Unlimited, Inc.
Joule is pioneering the production of Liquid Fuel from the Sun™, surpassing today’s barriers to abundant, sustainable, cost-competitive supply. Its transformational Helioculture™ platform converts sunlight and waste CO2 directly into liquid fuels in a continuous process that is not limited by costly biomass intermediates, processing or use of precious natural resources. This platform can yield renewable diesel fuel in unprecedented volumes with a fraction of the land use incurred by current methods, leapfrogging biomass-dependent approaches and eliminating the economic and environmental disadvantages of fossil fuels. Founded in 2007 by Flagship Venture Labs, Joule is privately held and headquartered in Cambridge, Massachusetts. Additional information is available at www.jouleunlimited.com.

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