Solix BioSystems to expand commercial algae production with $31M Series C venture round

August 3, 2012 |

In Colorado, Solix BioSystems announced the completion of a $31 million Round C financing, led by existing investor I2BF Global Ventures. The financing will be used primarily to fund the transition to commercial production of algae products using Solix’s Lumian Algae Growth System. These algae production photo-bioreactors – currently ranging from 260 to 58,000 liters – are constructed using the company’s proprietary Lumian panels, which maximize light penetration and efficient mixing of CO2 for optimized algae growth. Solix’s demonstration plant in Colorado, USA, has been producing multi-ton quantities of algae since 2009.

The product is separated into oil and solid biomass. The oil is converted into both low-value products such as biodiesel, green diesel, bio jet-fuels but also high-quality natural Polyunsaturated Fatty Acids, including Omega 3, Beta-Carotene and the high-value pigment Astaxanthin. Solids meanwhile are used in aquaculture, food and animal feed ingredients due to their high protein and carbohydrate content.

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Category: Fuels

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