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11/12/08 - Startup secures funds for biofuels plant near Durango

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A Fort Collins-based alternative-energy startup announced Tuesday it has secured $10.5 million in first-round funding and plans to build a biofuels plant in southwestern Colorado.

Solix Biofuels, which has technology that turns algae into oil for refineries, will build a pilot plant on a 10-acre site on the Southern Ute Indian Reservation near Durango.

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