Solix completes $16.8 million in Series A funding

By | June 09, 2009
Posted July 2, 2009

FORT COLLINS, CO, Jun 30, 2009 Solix Biofuels Inc., an alternative energy technology company for the large-scale commercialization of microalgae-based fuels and co-products, announced the completion of its Series A funding that now includes the international investment group, Shanghai Alliance Investment Ltd. ("SAIL"). Solix will use the additional funding to complete construction and begin operations at its Coyote Gulch Demonstration Facility, which is expected to be in full-scale commercial operation by late summer 2009. SAIL's contribution to the Series A Funding will increase development opportunities for Solix in Asia and Solix's AGS(TM) Technology is well suited for international deployment.

"The need to develop a low-cost, alternative energy source is a growing global concern. Having an international investor take interest in Solix gives us confidence that exciting changes will take place within the global energy market in the coming years. In addition, developing a relationship with SAIL facilitates deployment opportunities for us in Asia and other international markets," said Doug Henston, CEO of Solix Biofuels. He continued, "Algae is an ideal feedstock to produce biofuel because it can be grown in diverse climates, uses little water and does not compete with food crops for land. These factors combined allow for the global adoption of Solix's AGS(TM) Technology."

Other investors in Solix's Series A Funding include: I2BF Venture Capital, Bohemian Investments, Southern Ute Alternative Energy LLC, Valero Energy Corp., and Infield Capital.

About Shanghai Alliance Investment Ltd.

Shanghai Alliance Investment Ltd. is international investment firm based in Shanghai, China that is heavily invested in numerous technology, bioscience and renewable energy companies including international investments that are focused on entities with potential to be deployed within China.

About Solix Biofuels

Solix Biofuels, based in Fort Collins, Colo., is an alternative energy production technology company with emphasis on supplying low-cost, scalable photo-bioreactors that will enable the global production of biofuels using microalgae as a feedstock. Solix Biofuels is an intellectual descendant of the U.S. Department of Energy's Aquatic Species Program, which started in 1978 to explore ways to produce biodiesel from algae. In early 2006, Solix Biofuels was created to continue this work, with a goal of creating a commercially viable biofuel that will help solve climate change and petroleum scarcity, without competing with global food supply. Solix began construction of its Coyote Gulch Demonstration Facility, located on the Southern Ute Indian Reservation, on February 18, 2009 and it is expected to be in full-scale commercial production by late summer 2009. For more information visit

SOURCE: Solix Biofuels
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