Company Seeks Worldwide Protection for its Technology to Improve Efficiency of Algae Oil Extraction
Los Angeles, CA April 22, 2010 – 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, recently deposited an international PCT patent application pursuant to last year’s filing of United States patent application 61/170,698 with the United States Patent Office. The international application relates to the Single-Step Extraction™ system, OriginOil’s fifth patent pending.
The application, titled “Systems, Apparatus and Methods for Obtaining Intracellular Products and Cellular Mass and Debris from Algae and Derivative Produces and Process of Use Thereof”, discloses OriginOil’s proprietary system and industrial process for dewatering algae slurry, extracting algae lipids, separating biomass, and recovering process water in an algae production system.
OriginOil’s Single Step Extraction system is classified as wet or aqueous extraction, which can bypass multiple stages in the algae harvesting process, with substantial potential energy and equipment reductions. A chart developed by oil extraction market leader Desmet Ballestra, an OriginOil partner, illustrates the relationship of aqueous extraction to conventional processes.
“International markets will be critical to the development and commercialization of algae production technologies. Our Single-Step Extraction System represents a major advance in the all-important process of harvesting algae,” said Riggs Eckelberry, CEO. “In the past year, we have improved the efficiency of our process in recovering valuable oil and biomass, eliminating many of the capital costs and energy requirements associated with conventional systems. This further protection of our intellectual property will allow us to pursue international opportunities, thereby facilitating the growth of the global algae industry.”
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.
