Solix BioSystems to ramp up algae technology with £20m funding

Algae cultivation technology provider Solix BioSystems has finalised a £20 million (€25 million) round of funding and can now begin building its inaugural commercial plant.

The new large-scale plant, the location for which has not yet been decided, will grow algae biomass that can then be used for the production of biofuels and animal feed.

Solix already operates a demonstration-scale plant that develops around 2,000 gallons a year of algae. The completion of this funding round means Solix can now scale up its technology – a photo bioreactor fitted with Solix Lumian panels that encourages algae growth by maximising its exposure to light and CO2.

Solix says it completed the new round of funding with help from Southern Ute Altnerative Energy, Bohemian Ventures, and existing investor I2BF.