- World Leader in News and Information Profiles OriginOil and Algae as a Promising Third Generation Biofuel -
Los Angeles, CA – February 27, 2009 – OriginOil, Inc. (OTCBB: OOIL), the developer of a breakthrough technology to transform algae, the most promising source of renewable oil, into a true competitor to petroleum, announced that the company was featured on CNN’s television segment called “Energy Fix” on February 26. The segment, hosted by CNN anchor Poppy Harlow, aired nationally on multiple occasions and featured OriginOil’s breakthrough algae-to-oil technology and algae’s potential to replace petroleum.
In the interview, OriginOil CEO Riggs Eckelberry explained that algae is a third generation biofuel feedstock. First generation biofuel was based on food crops such as corn and sugarcane. Second generation, such as cellulosic ethanol, is not based on food crops but still uses lots of land and water. The third generation doesn’t need farmland, can use dirty water, is not a food crop, grows very fast, and loves CO2. Eckelberry concluded by saying that algae is the prime candidate for what we need in this country for biofuels.
In response to the CNN televised broadcast, Eckelberry said, “We are thrilled that a premiere and influential international medium like CNN has chosen to feature OriginOil and underscore the promise of algae as an alternative to petroleum. We are extremely happy to have worked with Ms. Harlow to educate CNN’s viewers on algae as the most promising third generation biofuel.”
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.
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.
