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
A new, outdoor system at the University of Dayton Research Institute has been producing a high volume of algae since its installation in the summer of 2013, even through ...
A University of New South Wales (UNSW)-led team of researchers has discovered how algae that survive in very low levels of light are able to switch on and off a weird qua...
Kyae Mone Win reports in the Myanmar Times that spirulina has been harvested from Twin Daung lake in Sagaing’s Bu Ta Lin township for over a decade, but climate change an...
Starting in the early 70s, agencies in the former USSR invested more than 20,000 person-years of research and development to produce Bio-Algae Concentrates (BAC) that hel...
Perth, Western Australia-based Algae.Tec Limited has announced that the Reliance Group has converted the first tranche of options following the positive progress achieved...
Matthew Carr was recently named executive director of the Algae Biomass Organization (ABO), the leading trade association for the algae industry. His presence will soon b...
The EPA has released the Annual Use of Pesticides in the U.S. Report. We now know that American farmers apply roughly a billion pounds of toxic chemicals intentionally in...
Using a combination of satellite imagery and laboratory experiments, researchers have evidence showing that viruses infecting those algae are driving the life-and-death d...
Oregon State University researchers are combining diatoms, a type of single-celled photosynthetic algae, with nanoparticles to create a sensor capable of detecting minisc...
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 ...
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...
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 ...
MicroBio Engineering, Inc., of San Luis Obispo, California, has introduced a full suite of open pond microalgae growth systems designed for quick deployment of research- ...
Renewable fuels company Muradel has launched Australia’s first integrated demonstration plant to sustainably convert algae into green crude, as a first step towards a com...
William Tucker writes in fullfreedom.org about the lure the oceans have for advocates of biofuel, particularly in Scandinavia. “Two-thirds of the globe is covered with wa...
Phys.org reports that, in collaboration with the Berlin, Germany LED manufacturer FutureLED, scientists at the Technische Universität München have developed a unique comb...