Algae fuel firm Solix raises USD15.5m

Tue Nov 11 2008, 18:54 PM

Colorado algae fuel startup Solix Biofuels is receiving USD10.5m plus a USD5m commitment to finance a pilot algae fuel plant on the Southern Ute Indian Reservation in Colorado. Investors include Valero Energy, the largest oil refinery operator in the US, and Southern Ute Alternative Energy, which manages the cleantech investments of the Southern Ute Indian tribe. I2BF Venture Capital, Bohemian Investments and Infield Capital are also participating.

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