image: Solix Biofuelsâ€¨
Here's another algae biofuel company to watch: Solix Biofuels, based in Fort Collins, Colorado has announced that it has raised $10.5 million in a first round of funding, and has reached an agreement with investors for a further $5 million to build an algae biodiesel facility near Durango, Colorado. Ponying up this money are Valero Energy, Infield Capital, and (perhaps most interestingly) the Southern Ute Indian Tribe:10-Acre Facility Planned for Indian Reservation
The proposed 10 acre biofuel facility will be built on the Southern Ute Indian Reservation in two phases: The first of which is expected to be completed in 12-18 months and will consist of four acres of photo-bioreactors for growing algae and a one acre lab facility. The second phase will add five acres and bring the facility to commercial scale.
Which is all great, but as Greentech Media puts it "algae companies are breeding faster than algae itself, it seems," going on to point out that few of these companies have managed to produce any oil at a commercial scale.
Nevertheless, of all the potential sources of liquid biofuels, perhaps the only one which could produce a high enough quantity of fuel to replace anywhere near current demand for transportation fuels is algae. Which is all a long way of saying: Pay attention to algae.
via: Solix Biofuels (press release)