FORT COLLINS, CO — June 30, 2009 — Solix Biofuels, Inc. ("Solix"), an
alternative energy technology company for the large-scale commercialization
of microalgae-based fuels and co-products, announced the completion of its
Series A funding that now includes the international investment group,
Shanghai Alliance Investment Ltd. ("SAIL"). Solix will use the additional
funding to complete construction and begin operations at its Coyote Gulch
Demonstration Facility, which is expected to be in full-scale commercial
operation by late summer 2009. SAIL's contribution to the Series A Funding
will increase development opportunities for Solix in Asia and Solix's AGS™
Technology is well suited for international deployment.
"The need to develop a low-cost, alternative energy source is a growing
global concern. Having an international investor take interest in Solix
gives us confidence that exciting changes will take place within the global
energy market in the coming years. In addition, developing a relationship
with SAIL facilitates deployment opportunities for us in Asia and other
international markets," said Doug Henston, CEO of Solix Biofuels. He
continued, "Algae is an ideal feedstock to produce biofuel because it can
be grown in diverse climates, uses little water and does not compete with
food crops for land. These factors combined allow for the global adoption
of Solix's AGS™ Technology."
Other investors in Solix's Series A Funding include: I2BF Venture Capital,
Bohemian Investments, Southern Ute Alternative Energy LLC, Valero Energy
Corp., and Infield Capital.
About Shanghai Alliance Investment Ltd.
Shanghai Alliance Investment Ltd. is international investment firm based in
Shanghai, China that is heavily invested in numerous technology, bioscience
and renewable energy companies including international investments that are
focused on entities with potential to be deployed within China.
About Solix Biofuels
Solix Biofuels, based in Fort Collins, Colo., is an alternative energy
production technology company with emphasis on supplying low-cost, scalable
photo-bioreactors that will enable the global production of biofuels using
microalgae as a feedstock. Solix Biofuels is an intellectual descendant of
the U.S. Department of Energy's Aquatic Species Program, which started in
1978 to explore ways to produce biodiesel from algae. In early 2006, Solix
Biofuels was created to continue this work, with a goal of creating a
commercially viable biofuel that will help solve climate change and
petroleum scarcity, without competing with global food supply. Solix began
construction of its Coyote Gulch Demonstration Facility, located on the
Southern Ute Indian Reservation, on February 18, 2009 and it is expected to
be in full-scale commercial production by late summer 2009. For more
information visit www.solixbiofuels.com.