LOS ANGELES PALMA DE MALLORCA, Spain–()–OriginOil,
Inc. (OTCBB: OOIL),
developer of breakthrough technology to convert algae into renewable
crude oil, and Algasol Renewables, a technology company with a unique
patented technology for low-cost cultivation of micro algae for biofuels
and high value products, today announced that they intend to collaborate
on the development of an integrated algae growth and harvesting system.
By bundling their products, the two companies plan to achieve new levels
of cost and performance in micro algae cultivation for biofuels and high
value products.
“We plan to
recommend OriginOil’s field-proven, chemical-free, high flow and
low-energy harvesting system, and once available, the integrated
biocrude system they are developing with the Department of Energy.”
“Algasol’s patented system focuses on how to grow algae in floating
bags, and their testing has indicated this can be much more efficient
than other cultivation methods,” said Riggs
Eckelberry, OriginOil’s CEO. “Now with NASA and Lawrence Berkley
working with Algasol, we are excited and eager to contribute our own
breakthrough harvesting system to help us collectively achieve a cost
breakthrough in the race to compete with petroleum.”
Algasol’s floating bags or photobioreactors (PBRs) can operate in the
ocean or in salt water ponds on land. Because they float, Algasol
believes their PBRs achieve optimal light exposure with outstanding
productivity results and avoid the high temperature and excess salinity
often encountered in solar growth systems. Algasol has received a patent
in 70 countries for its unique method of floating bags using relative
water density.
“With customer demand for an integrated algae production process rising,
we need to offer our customers a means of harvesting as well,” said
Miguel Verhein, executive director of Algasol Renewables. “We plan to
recommend OriginOil’s field-proven, chemical-free, high flow and
low-energy harvesting system, and once available, the integrated
biocrude system they are developing with the Department of Energy.”
Algasol recently entered into a partnership with NASA and the Lawrence
Berkley National Laboratory of the U.S. Department of Energy. In
addition, Algasol has collaborated and maintains a close relationship
with Arizona State University (ASU), and is a cornerstone of the
recently inaugurated Arizona Center for Algae Technology and Innovation
(AzCATI).
OriginOil is working with the Department of Energy’s Idaho National
Laboratory to implement a downstream fuel conversion process which it
plans to offer as part of the Algasol-OriginOil bundle.
About OriginOil, Inc. (www.originoil.com)
OriginOil® helps algae growers extract oil from algae for use as a
feedstock for the commercial production of transportation fuels,
chemicals and foods. In a single step, our breakthrough technology
efficiently dewaters and breaks down algae for its useful products,
overcoming one of the greatest challenges in making algae a viable
replacement for petroleum. As a pioneer and the emerging leader in the
global algae oil services field, OriginOil supports its core algae
extraction technology with an array of process innovations for some of
the world’s most successful algae growers and refiners, just as pioneers
like Schlumberger and Halliburton have done in the oilfield services
industry. To learn more about OriginOil®, please visit our website at www.originoil.com.
About Algasol Renewables (www.algasolrenewables.com)
Algasol Renewables is a technology company with a unique patented
technology for low-cost cultivation of micro algae for biofuels and high
value products. The technology is a flexible polymer film
photobioreactor (PBR) floating on water that can be deployed in ponds,
on non-arable land, and in the ocean. A patent, based on density
difference, in 70 countries covers key aspects of the PBR technology.
Frost Sullivan awarded Algasol Renewables the prestigious Global Algae
Biofuels Award. To learn more about Algasol Renewables, please visit our
website at www.algasolrenewables.com
or contact info@algasolrenewables.com
Safe Harbor Statement:
Matters discussed in this press release contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
“anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and
similar expressions identify such forward-looking statements. Actual
results, performance or achievements could differ materially from those
contemplated, expressed or implied by the forward-looking statements
contained herein. These forward-looking statements are based largely on
the expectations of the Company and are subject to a number of risks and
uncertainties. These include, but are not limited to, risks and
uncertainties associated with our history of losses and our need to
raise additional financing, the acceptance of our products and
technology in the marketplace, our ability to demonstrate the commercial
viability of our products and technology and our need to increase the
size of our organization. Further information on the Company’s risk
factors is contained in the Company’s quarterly and annual reports as
filed with the Securities and Exchange Commission. The Company
undertakes no obligation to revise or update publicly any
forward-looking statements for any reason.
Abstract
OriginOil and Algasol Renewables to develop an integrated algae
growth and harvesting system. Algasol, collaborating with NASA and
Lawrence Berkley National Laboratory, will bundle its offering with
OriginOil’s Algae Appliance™.
Key Words
algae commercialization, algae oil, algae to oil, ooil, originoil,
renewable crude oil, Riggs Eckelberry, Algasol NASA, NASA Lawrence
Berkley National Laboratory, Algae Appliance™, micro algae cultivation,
photobioreactors, Algasol-OriginOil bundle
Article source: http://eon.businesswire.com/news/eon/20120503005621/en/algae-commercialization/algae-oil/algae-to-oil
