CEO Riggs Eckelberry Says Oil Giant’s Move Points To Algae’s Potential To Overtake Petroleum
Los Angeles, CA – July 14, 2009 – OriginOil, Inc. (OOIL), the developer of a breakthrough technology to transform algae, the most promising source of renewable oil, into a true competitor to petroleum, commented on today’s announcement by Exxon Mobil (ExxonMobil) of a long-term partnership with algae research company, Synthetic Genomics.
In an article by its Greenwire affiliate, the New York Times quoted CEO Riggs Eckelberry’s remarks: “A couple years ago, the petroleum institute said there’s only [twenty] years left for oil, and now they’re really finally acting on that… Algae is the feedstock to overtake petroleum. It’s the real alternative to petroleum.”
(Click http://bit.ly/XHTml for full article.)
Simultaneously, Eckelberry’s commentary was also featured in Biodiesel Magazine, where he stated, “Algae is now being validated as a legitimate feedstock. It is going to have a long-term outlook with an investment like this.”
In other remarks, Riggs Eckelberry said: “Our own focus is on building the industrial platform for producing any type of algae and we welcome large-scale research into new strains.” The $600 million partnership between Exxon Mobil and Synthetic Genomics plans to genetically engineer new strains of algae.
Speaking at a renewable energy conference held at the United Nations on June 11, CEO Eckelberry outlined a plan to overtake petroleum. He warned that without a new approach, petroleum could remain strong until 2060. (Video at http://bit.ly/asHXN.)
“In the world’s planning for renewable energy, the tendency has been to follow old-school energy thinking which focuses on large, centralized facilities,” Eckelberry continued. “OriginOil believes the solution is networked and distributed, and based on large-scale information sharing.” He continued, “We know that entrepreneurs worldwide want to start making biofuels now for their local communities and industries. That’s the model of the future – we call it ‘mushrooms after the rain’.”
About OriginOil, Inc.
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.
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