Solix BioSystems Gets $31 Million for Commercial Algae-Oil Plant

Solix BiofuelsAugust 2, 2012, Bloomberg – Solix BioSystems Inc., a closely held producer of refinable algae-oil, received $31 million from existing investors to build its first commercial-scale production plant.

I2BF Global Ventures led the Series C financing, which also included Southern Ute Alternative Energy LLC and Bohemian Ventures, Solix said today in an e-mailed statement. Oil refinerValero Energy Corp. (VLO), which invested in 2009, did not reinvest, though it maintains a seat on the company’s board, Solix Chief Executive Officer Joel Butler said today by telephone.

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