Solix Biofuels Takes $10.5M

Fort Collins, Colorado-based Solix Biofuels announced today that the firm has raised $10.5M in an initial round of funding, and will build a biofuels plant near Durango. According to Solix Biofuels, it is developing algae-based alternative energy technology. The funding round was led by I2BF Venture Capital, and Bohemian Investment. Other investors in the round included Southern Ute Alternative Energy LLC, Valero Energy Corp., and Infield Capital. Solix also said that the investment group has committed $5M to be used for the biofuels facility near Durango, which will be a pilot plant for the company's technology. More information »