Algae Biofuel Firm Solix Raises Funds

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In July, Colorado-based Solix Biofuel raised USD16.8m in a Series A funding round from investors including Shanghai Alliance Investment,I2BF Venture Capital and Valero Energy. Solix is building a pilot facility in partnership with Southern Ute Alternative Energy. The first phase will be completed next year and will include four acres of closed algae photobioreactors . The firm claims its technology can produce approximately five times more fuel per acre than soy-based biodiesel.

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