Colorado Company to Take Algae-Based Fuel to the Next Level
November 11, 2008, The New York Times Green Blog – A Colorado company will break ground early next year on an algae farm that is intended to produce thousands of gallons of substitutes for gasoline and diesel at a rate per acre far higher than current biofuel projects.
Solix Biofuels, of Fort Collins, said on Monday that it had raised $15.5 million in capital and would begin with a five-acre plot to produce “biocrude.” That will in turn be shipped to an oil refinery in place of crude oil, according to Douglas R. Henston, the company chief executive.
Investors include the Southern Ute Indian Tribe, on whose reservation, near Durango, the farm will be located; the Valero Energy Corporation, the refinery operator; and Infield Capital, an investment fund.