Colorado Algae Fuel Startup Solix Raising $15.5M

The three-year-old Colorado based algae fuel producer Solix, said it has raised $10.5 million — with an additional commitment of $5 million — in its first round of outside funding. Solix Biofuels and Southern Ute Alternative Energy will jointly develop a pilot plant on a 10-acre site on the Southern Ute Indian Reservation in Southwest Colorado, which will use algae to produce biofuels and feedstocks for the chemical industry.

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