New technology turns sunlight into fuel!!!

Joule Biotechnologies has announced the next silver bullet in alternative energy:

Joule Biotechnologies, Inc. unveiled July 27 its Helioculture™ technology—a revolutionary process that harnesses sunlight to directly convert carbon dioxide (CO2) into SolarFuel™ liquid energy. This eco-friendly, direct-to-fuel conversion requires no agricultural land or fresh water, and leverages a highly scalable system capable of producing more than 20,000 gallons of renewable ethanol or hydrocarbons per acre annually—far eclipsing productivity levels of current alternatives while rivaling the costs of fossil fuels.

Well, pretty much all biofuels turn sunlight into fuel - even petroleum does, albeit with a time lag of millennia. The claimed per-acre yield is impressive, but Environmental Capital picks out a number of red flags - lack of all but vague details on technology, yield of ~10x algae and ~100x corn ethanol, hyper-aggressive timeline (pilot plant next year and commercial-scale plant by 2012). File this under I'll believe it when I see it.