Joule Elects Caroline Dorsa to Board of Directors
BEDFORD, Mass.--(BUSINESS WIRE)--Joule today announced the election of Caroline Dorsa to its board of directors, adding the expertise and insight of a highly experienced financial executive who will also serve as Chair of the company’s audit committee.
Ms. Dorsa is Executive Vice President and CFO of Public Service Enterprise Group (NYSE: PEG), a publicly traded diversified energy company with annual revenues of more than $11 billion. She previously served as Senior Vice President, Global Human Health, Strategy and Integration at Merck & Co., where she spent more than 20 years in various financial positions, including Vice President and Treasurer. She also held the role of Senior Vice President and CFO at Avaya, Inc., during which time she supported the company through its acquisition by private equity. Earlier in her career, Ms. Dorsa worked for Mayor Ed Koch of the City of New York promoting economic development in midtown Manhattan. In addition to her board role at Joule, she currently serves on the board of Biogen Idec (NASDAQ: BIIB).
“Joule is on a fast track to commercialization of its renewable fuels, with an opportunity to have market impact as soon as 2013. We have strengthened the composition of our board accordingly with Caroline’s election,” said Noubar Afeyan, Founder and Chairman of Joule and Managing Partner and CEO of Flagship Ventures.
“We welcome Caroline to the board at a very exciting time, as we prepare to initiate commercial operations and lay the groundwork for future production sites around the world,” said Bill Sims, President and CEO of Joule. “Our team is comprised of noted experts in the wide-ranging fields that are critical to our success, and with the addition of Caroline, we’ve gained a valuable voice on financial management and strategy as our deployment activity accelerates.”
“I am very pleased to join the board of Joule, a company that is working towards resolution of critical challenges: dependence on fossil fuel and the economic and environmental instability it entails,” said Ms. Dorsa. “There is tremendous promise in Joule’s technology and business strategy, and it’s an exciting opportunity to join the team that will help guide the company onward.”
Joule is advancing a technology platform for Liquid Fuel from the Sun™, expected to eclipse the scale, productivity and cost efficiency of any known alternative to fossil fuel today. Its transformative Helioculture™ platform directly and continuously converts sunlight and waste CO2 to infrastructure-ready diesel, ethanol or commodity chemicals with no dependence on biomass feedstocks, downstream processing or precious natural resources. This process can yield renewable fuels and chemicals in unprecedented volumes with a fraction of the land required by current methods, leapfrogging biomass-dependent approaches and eliminating the economic and environmental disadvantages of fossil fuels. Founded in 2007 by Flagship VentureLabs, Joule is privately held and headquartered in Bedford, Massachusetts. Additional information is available at www.jouleunlimited.com.
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