Money

Solix’s Lumian™ Algae Growth System

Solix’s Lumian™ Algae Growth System

Solix BioSystems to Expand with $31M Investment

August 3, 2012
AlgaeIndustryMagazine.com

Colorado-based Solix BioSystems has announced the completion of a $31 million Round C financing, led by existing investor I2BF Global Ventures. The funding will allow Solix to pursue commercializing their product line of refined products like Omega 3, Betacarotene and the salmon pigment Astaxanthin (a.k.a Polyunsaturated Fatty Acids).

According to a company spokesman, Solix Biosystems is an example of the biofuels industry’s diversification away from fuel and biomass, where there is lower demand and margin, into higher-value refined products. The company, which began as a developer of photo-bioreactor systems, has since diversified towards selling the resulting bioproducts themselves.

“At Solix we are pleased to be making the transition from the product-development stage to commercialization stage of Solix’s evolution into a top tier bio-products company offering a range of products including biomass, biofuels, and high-value natural by-products,” said Solix CEO Joel Butler.

The new 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 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 and 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.

“We are thrilled to be part of Solix’s transition into commercial algae production,” says David Waserstein, Director of Investments at I2BF Global Ventures and Board Member at Solix. “The biofuels sector will reward those that can both achieve scale and serve multiple markets with their products. Solix has successfully produced one of the highest-productivity algae systems and is now in a position to capitalize on their success by leading the way into algae production at scale.”

More Like This…

HOME Algae Industry Jobs

Copyright ©2010-2012 AlgaeIndustryMagazine.com. All rights reserved. Permission granted to reprint this article in its entirety. Must include copyright statement and live hyperlinks. Contact editorial@algaeindustrymagazine.com. A.I.M. accepts unsolicited manuscripts for consideration, and takes no responsibility for the validity of claims made in submitted editorial.

From The A.I.M. Archives

— Refresh Page for More Choices
Chase Ezell writes in Earth911.com about the irony of Algenol’s biggest friction source on the way to marketing their carbon reducing algal-based ethanol being — the EPA ...
Researchers at the Paul Scherer Institute (PSI) in Wädenswil, Switzerland, have succeeded in producing energy-rich gas from microalgae, and in doing so have demonstrated ...
Biplab Das reports in NatureAsia.com that a research team has found aqueous extracts of the marine brown algae Lobophoro variegate that can inhibit the replication of hum...
Analia Murias 
reports for fis.com that Chilean exports of products made from macroalgae generated a total of $195 million US in the first seven months of 2014, according...
U.S. farmers and biofuels makers are watching for the Environmental Protection Agency’s (EPA’s) final decision on the 2014 Renewable Fuel Standard rules, which will set t...
James “Jamie” Levine took over the reigns at Sapphire Energy in July of this year as former President and CEO Cynthia “CJ” Warner stepped down, retaining her role as chai...
Arizona is taking advantage of its open land and ample sunshine to assume a leadership position in the algae biofuel field. The state is home to two national algae testbe...
With their new CO₂ processing-platform called AstaCos, AlgaeBiotech can produce waxy particles of only 50-100 µm in size with a loading of 25% astaxanthin oleoresin. The ...
A team of Michigan State University algae researchers have discovered a cellular "snooze button" that has the potential to improve biofuel production and offer ...
Solazyme, Inc. and Versalis, the chemical subsidiary of Eni S.p.A., one of the world’s largest oil and gas companies, today announced a partnership to expand the commerci...
Tess Riley writes in TheGuardian.com about how spirulina may be able to combat malnutrition in developing countries. Spirulina is one of the oldest life forms on Earth, c...
Designboom.com is showcasing the “Spirulina Fountain” designed by bureau A. The installation constitutes a hybrid, fusing the production basins of the intense blue-green ...
Fort Myers, FL-based Algenol, and India's Reliance Industries Ltd., have deployed India’s first Algenol algae production platform. The demonstration module is located nea...
Using a malaria parasite protein produced from algae, paired with an immune-boosting cocktail suitable for use in humans, researchers at UC San Diego School of Medicine g...
Solazyme has announced that total revenue for the fourth quarter of 2014 was $14.5 million, compared with $11.3 million in the fourth quarter of 2013, an increase of 29%....