go to http://www.aocs.org! Algaetech International — The Future is NowComplete Algae Monitoring System Visit  cricatalyst.com!Nexus — Leaders in Greenhouse Systems Integration

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
Natural carotenoid specialists Piveg Inc., with production facilities based in Celaya, Central Mexico, has announced immediate availability of natural astaxanthin materia...
Scientists at the Energy Department’s National Renewable Energy Laboratory (NREL) have demonstrated that just two of six iron-sulfur-containing ferredoxins in a represent...
Biomass abounds on Earth, as forests, fields, sewage and seaweed. But only a small fraction, mostly human or agricultural waste, can be harvested without posing environme...
Solazyme, Inc. has announced results for the fourth quarter and full year ended December 31, 2013. “2013 was a year of great progress for Solazyme as we readied our first...
As the number of photobioreactors in an algae growing operation increases, there is a need for both autonomous control and monitoring of individual PBRs, as well as centr...
“Proterro has reached its Q1 sugar-production pilot milestones,” CEO Kef Kasdin reported at the recent Advanced Biofuels Leadership Conference, in Washington, D.C. “In fo...
Algenist®, Solazyme’s anti-aging skincare brand featuring microalgae, has announced its launch in Nordstrom locations throughout the United States. The launch into Nordst...
A team of six University of Calgary researchers has been awarded funding for their project, Cost Effective Biotechnology for Carbon Capture and Re-Use, based on the conce...
Although the use of whole microalgae in animal diets has long been studied, the 
de-fatted biomass of microalgal species, derived from biofuel production research, has on...
By sending algae into space, a U.S. Department of Agriculture (USDA) scientist and his team will be able to study some of the key mechanisms that control plant growth and...
Four years after the first optimistic calculations, the experimental cultivation of algae at Wageningen University in the Netherlands appears to be meeting expectations. ...
Kazuaki Nagata reports from Japan that while the Fukushima nuclear disaster has prompted vigorous discussion about alternative energy in Japan, there is a lack of a paral...
The Guardian reports that Prince Edward Island (P.E.I.), Canada-based Solarvest has created an inventive system utilizing a specific algal strain to grow and produce EPA ...
Jamie Radford writes in the Illawarra Mercury that Pia Winberg, from the University of Wollongong, believes that the South Coast of New South Wales, Australia (NSW) is in...
Steven Mufson reports for the Washington Post that Algenol Biofuels estimates hackers have attempted to break into its computers 39 million times in four months this year...
Biofuels derived from the oils produced by algae may offer a low-cost sustainable alternative to fossil fuels. To achieve this goal, optimization of cost effective strate...
In an effort to propel the algae industry forward, the Algae Testbed Public Private Partnership (ATP3) offers a series of hands-on specialized workshops suited for partic...
Following a request from the European Commission, the European Food Safety Authority (EFSA) Panel on Dietetic Products, Nutrition and Allergies (NDA) was recently asked t...