Joule Unlimited, a renewable solar fuel technology company that opened a pilot plant in Leander in 2010, received a $70 million investment in January to launch commercial technology that turns carbon dioxide and sunlight into fuel.

The $70 million from undisclosed investors will primarily support operations and construction at Joule's new facility in New Mexico, but Joule spokeswoman Felicia Spagnoli said some of the money will go to the plant in Leander.

"Certainly, some of the proceeds will be applied to research and development in Leander, but I can't say a certain amount is devoted to Leander," Spagnoli said.

Leander Economic Development director Kirk Clennan said the $70 million investment is proof of Joule's success.

"They are looking for another scale-up opportunity, so if anything, the research and development facility in Leander is proving its science," he said. "Leander is very proud to have Joule. It's a real asset to the community."

Clennan said Joule has not approached the city to expand its 5-acre research and development site, located on FM 2243 near Bagdad Cemetery.

"It has always been understood that this is their research and development facility. When it gets to ultimate build-out, they are going to need thousands of acres to expand," Clennan said. "There are other lands in Central Texas they could grow on, but it needs to sell in the dollars per acre not dollars per foot. What we have done as a city is introduce private and public partners that can help them with massive land searches."

Spagnoli said Joule is keeping Texas in mind for future development sites.

"The site in Leander was never built for that purpose, since the site itself is only about 5 acres. We are targeting about a thousand acres for a commercial facility," she said. "It's certainly a possibility to build a facility in Texas. There's a high level of sunlight and access to resources."

Spagnoli said though the Leander site is not expanding, activity and research there is on the rise.

Joule has no intention of downsizing or eliminating the Leander test site, which employs about a dozen of the company's 100 or so team members.

"The site in Leander will continue to be an active part of our development and testing," she said.

Technology is perfected in Leander and implemented at larger sites like the one in New Mexico, Spagnoli said.

Joule uses genetically engineered microorganisms to convert sunlight and waste carbon dioxide into diesel, ethanol and other chemicals.

"[The Leander site] is more like an outdoor laboratory for research, and it's not built up to the scale of a commercial production," Spagnoli said. "There we are testing the organism under various conditions with a goal towards increasing productivity rates. So the Leander site is mainly for testing, whereas the New Mexico site will be designed to resemble what a commercial site will look like."

The company said it estimates future commercial sites could generate 15,000 gallons of diesel per acre per year at a cost of $20 per barrel with government biofuel subsidies, and $50 per barrel without subsidies. Either price is well below the market price, the company said. The process can yield renewable fuels and chemicals while using a fraction of the land required by current methods and without use of agriculture land or fresh water, the company said. Joule does not use biomass materials like sugarcane and soybeans as fuel, so the approach eliminates the economic and environmental disadvantages associated with fossil fuels.

Company officials said Joule has raised more than $110 million to date to commercialize its technology, which is refined at the plant in Leander. The $70 million investment is the largest-ever contribution in the company's history.

"Our goal since inception has been to enable large-scale, renewable fuel production at unprecedented costs and volumes in the near term, without the obstacles and slow pace of biofuel progress," Joule President and CEO William Sims said. "On the heels of our latest funding round and technology advancement, we're in a very strong position to make it happen as planned."

Joule appointed two executives Jan. 23, including Peter Erich, executive vice president and general manager of commercial operations, and Paul Snaith, head of business development and strategy. Both have experience in the energy industry, global management, product development and sales.

Spagnoli said Erich and Snaith may visit Leander, but both primarily work from Joule's corporate headquarters in Massachusetts.

Joule Unlimited Biotechnologies Inc., 10101 FM 2243, Leander