SOURCE: Solix Biofuels, Inc.

Solix Biofuels, Inc.

September 22, 2010 08:00 ET

BASF and Solix Biofuels Collaborate to Produce Specialty Chemicals From Algae

LUDWIGSHAFEN, GERMANY and FT. COLLINS, CO--(Marketwire - September 22, 2010) - BASF SE and Solix Biofuels, Inc. today announced that they have signed an agreement to investigate the use of algae to produce certain chemicals for BASF. Solix is a leading developer of algae cultivation technology systems and will test multiple algae species in its proprietary growth system, AGS™, for BASF. Further terms were not announced.

As the world's leading chemical company, BASF is continuously exploring innovative technologies to provide products to its customers. The use of algae, which consume CO2 as part of their growth cycle, could potentially provide an attractive way to produce certain chemicals from a renewable source. "This collaboration with Solix Biofuels demonstrates BASF's commitment to generate growth from industrial biotechnology," said Harald Lauke, President of the Specialty Chemicals Research at BASF. "Algae represent a fascinating addition to BASF's technology portfolio as they offer the potential to produce a number of exciting specialty products. After surveying the algae industry, we chose to work with Solix based on its knowledge of algal biology and the strength of its AGS."

"We are excited to begin this important development with BASF," said Doug Henston, Solix Biofuels' CEO. "Algae offer the potential to produce a diversity of chemical products in addition to their fuel potential. We believe our AGS offers a high unique level of flexibility in its production capability, ideally suited for the ultimate large-scale cultivation of a broad range of algae species with multiple commercial applications. This partnership affords us the opportunity to work with a leader in the chemical industry to produce some unique chemical products from algae while continuing to pursue the production of fuel from algae."

About BASF
BASF is the world's leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics and performance products to agricultural products, fine chemicals as well as oil and gas. As a reliable partner BASF creates chemistry to help its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. BASF posted sales of more than EUR 50 billion in 2009 and had approximately 105,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.

About Solix Biofuels
Solix Biofuels, Inc. is a developer of algae production technology designed to produce algal biocrude and other algal products on an industrial scale. Its proprietary AGS offers the ability to cost efficiently produce algae products with high productivity and reliability. The Company works with partners interested in utilizing its AGS technology to produce products derived from algae and to reduce CO2 emissions. Solix Biofuels is headquartered in Ft. Collins, Colorado and has a demonstration facility near Durango in Southern Colorado. The Company is venture funded. For more information, visit www.solixbiofuels.com.

Contact Information

  • Solix Biofuels Contact:
    Joanna K. Money
    Vice President, Business Development
    Office: (970) 692 5611

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