On the Radar…

Fort Collins, Colorado based Solix Biofuels, Inc announced the completion of a $16.8M Series A round. Participating in the round were Shanghai Alliance Investment Ltd. (SAIL), I2BF Venture Capital, Bohemian Investments, Southern Ute Alternative Energy LLC, Valero Energy Corp., and Infield Capital. This announcement marks a $5.3M addition to the original Series A close in November of 2008.  Solix’s AGS(TM) Technology is designed to enable cost-effective and scalable production of biofuel from algae. The AGS Technology is a closed-system bioreactor designed to maximize algal growth through providing optimal access to sunlight. The proceeds of the round will be used to complete construction and commence operation of the company’s Coyote Gulch Demonstration Facility with full scale commercial operation expected by late summer of 2009.