A startup has received $70 million to commercialize its biofuel technology, reports Technology Review. Joule Unlimited, formerly Joule Biotechnologies, has said that its engineered bacteria would be able to produce 20,000 gallons to 25,000 gallons of ethanol a year from an acre of land, and that its ethanol would cost $1.23 per gallon. The company has also developed a device it calls a SolarConverter in which the microorganisms do their work, Technology Review adds.

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