New Biofuel Technology?

This Simply Green article tells of a breakthrough biofuel technology. The company behind it is Joule Biotechnologies. This technology can apparently make biofuel without agricultural land or fresh water, and if it proves successful, could (from what I understand) completely replace our reliance on liquid fossil fuels. The recipe?:- A secret type of micro-organism, the sun, and carbon dioxide in air! Joule plans on opening a pilot plant in 2011, so shall we wait and see? Let us know your thoughts.