Solix receives funding for algae demonstration facility
Alternative energy technology company Solix Biofuels has announced that it will complete construction and begin operations at its Coyote Gulch Demonstration Facility after concluding its Series A funding (where?)
Colorado, US-based Solix, a specialist in the large-scale commercialisation of microalgae-based fuels, has gained investment of $16.8 million (€11.9 million) from companies including Shanghai Alliance Investment, which will assist in opening up the Asian market to Solix.
‘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,’ said Doug Henston, CEO of Solix Biofuels.
The demonstration plant is expected to be in full-scale commercial operation by late summer 2009.
Colorado, US-based Solix, a specialist in the large-scale commercialisation of microalgae-based fuels, has gained investment of $16.8 million (€11.9 million) from companies including Shanghai Alliance Investment, which will assist in opening up the Asian market to Solix.
‘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,’ said Doug Henston, CEO of Solix Biofuels.
The demonstration plant is expected to be in full-scale commercial operation by late summer 2009.
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