The Colorado-based company said it would use the Series C funding to bring its algae production reactors – which can range from 260 for 58,000 litres – into commercial production.
Algae created in the containers can be used to produce biofuels, fats and pigments and can be used in animal feed and aquaculture.
I2BF investment director David Waserstein said, “We are thrilled to be part of Solix’s transition into commercial algae production.
“The biofuels sector will reward those than can both achieve scale and serve multiple markets with their products.
“Solix has successfully produced one of the highest-productivity algae systems and is now in a position to capitalise on their success by leading the way into algae production at scale.”
Last month I2BF joined Russian government-owned nanotech investor Rusnano Capital to launch the I2BF-RNC Strategic Resources Fund, which will invest in later stage nanotechnology companies.
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