Southern Ute Tribe enters green industry

The Southern Ute Tribe of Colorado, known as a player in the energy industry, is entering a new field.

The tribe is hosting a biofuels plant on the reservation. Solix Energy Inc, a start-up, hopes to convert green algae into oil that can be sold on a commercial basis.

"It’s a marriage of an older way of thinking into a modern time," Chairman Matthew J. Box told The New York Times.

The tribe provided about a third of the $20 million that Solix raised to open the plant. The tribe is also providing land free of use to the company.

Get the Story:
A New Test for Business and Biofuel (The New York Times 8/17)

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Southern Ute Tribe bids on alternative energy (7/30)