Solix BioSystems Obtains $16,000,000 Series B Financing

  • Feed Type
  • Date
    4/5/2011
  • Company Name
    Solix BioSystems
  • Mailing Address
    430 B. North College Ave Fort Collins, CO 80524
  • Company Description
    Solix Biofuels is a direct intellectual descendant of the U.S. Department of Energy’s Aquatic Species Program started in 1978 to explore ways to produce biodiesel from algae. When the program concluded in 1996 at the National Renewable Energy Lab in Golden, Colorado, the final program close-out report concluded that, in spite of many impressive accomplishments — especially in the biological sciences — “the high cost of algae production remains an obstacle”.
  • Website
    http://www.solixbiosystems.com
  • Transaction Type
    Venture Equity
  • Transaction Amount
    $16,000,000
  • Transaction Round
    Series B
  • Proceeds Purposes
    The new funding will drive the commercialization of Solix’s industrial algae growth system, the AGS, utilizing Solix’s proprietary, high-productivity photobioreactors.
  • M&A Terms
  • Venture Investor
    I2BF Venture Capital
  • Venture Investor
    Southern Ute Growth Fund
  • Venture Investor
    Undisclosed

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