Solix Biofuels Raises $16.8M

Fort Collins, Colorado-based Solix Biofuels reports this morning that the firm has raised a Series A funding round worth $16.8M. The funding came from Shanghai Alliance Investment Ltd., along with I2BF Venture Capital, Bohemian Investments, Southern Ute Alternative Energy LLC, Valero Energy Corp., and Infield Capital. Solix develops bioreactors being used to produce biofuels using algae. According to Solix, it will use the funding to complete construction and begin operations at its demonstration facility, located on the Southern Ute Indian Reservation. More information »