[ad#PhycoBiosciences AIM Interview]

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
Cyanobacteria, also known as blue-green algae because of their color, have endured for more than 2.5 billion years, providing ample time to adapt to changes in the Earth'...
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 ...
Developing renewable fuel from wet algae is one of the latest innovations Richland, Washington-based Pacific Northwest National Laboratory (PNNL) has successfully driven ...
Kevin Valine at the Modesto Bee writes that the California city of Modesto may sell the algae that grows in its roughly 1,000 acres of sewer ponds at its Jennings Road wa...
As of March 1, 2015, bbi-biotech GmbH, of Berlin, Germany, has begun integrating IGV Biotech GmbH’s photobioreactors into its own life science product portfolio. A former...
None of us would be alive if sperm cells didn’t know how to swim, or if the cilia in our lungs couldn’t prevent fluid buildup. But we know very little about the dynamics ...
The U.S. Environmental Protection Agency (EPA) is developing an early warning indicator system using historical and current satellite data to detect algal blooms. EPA res...
Sami Zaatari writes for the Middle East’s Gulf News that Abu Dhabi’s coastal sabkhas – the Arabic phonetic translation for salt flats – hold great potential for solar pow...
Simris Alg, a pioneering agribusiness producing omega-3 from farmed algae, has been declared one of Sweden’s 33 hottest companies in new technology. The renowned list is ...
Algae.Tec has announced a collaboration agreement for the commercialization of its algae production technology with Larimar Energy SRL, of the Dominican Republic. The ene...
Tubular glass photobioreactor (PBR) systems protect algae from harmful environmental factors, keeping strains safer from bio-contamination. The glass tubing itself can be...
Rich McEachran writes in the Guardian that, in the process of surfacing a road, layers of asphalt – which is composed mostly of bitumen (a byproduct of crude oil distilla...
The fully automated plant at the Fraunhofer Center for Chemical-Biotechnological Processes CBP in Leuna, Germany, was designed to produce microalgae at industrial scale. ...
Using microalgae to capture CO2 is a complex process, especially in flue gas environments, reports an editorial by IEA Clean Coal Centre in worldcoal.com. There are many ...
Natacha Tatu writes in Worldcrunch about a 72-year old French chef who has taken on the challenge of bringing spirulina to the malnourished youth of the Central Africa. F...