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- New Energy Congress Honors OriginOil as Top Algae Company
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Los Angeles, CA - November 19, 2008 - 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 has been named as one of the Top 100 Clean Energy Technologies by the New Energy Congress. NEC ranks OriginOil as the top algae company.
The New Energy Congress is an association of energy professionals from around the world who review the most promising claims to existing and up-and-coming energy technologies that are clean, renewable, affordable, reliable, easy to implement and safe. From this ongoing review, NEC generates its Global Top 100 Clean Energy Technologies listing (http://Top100Energy.com).
“We are pleased to welcome OriginOil to our listing of top renewable energy companies. Algae is carbon neutral and holds tremendous potential as an energy resource. OriginOil is addressing the challenges to large-scale production,” said Sterling D. Allan, CEO of the New Energy Congress. “OriginOil is developing a practical, industrial process that can make algae a viable, cost-competitive alternative to petroleum.”
Companies named to the list will be honored at the NEC’s sponsoring display at the second bi-annual Environmental Hall of Fame November 20-22 in Chicago. The awards ceremony, which is open to the public, will include Pierce Brosnan (James Bond) and his wife, who have been active in the environmental movement.
OriginOil’s proprietary system is an industrial, scalable process for continuous algae growth and extraction of oil. In a self-contained module, the Helix BioReactor™, algae is cultivated around a rotating vertical shaft which allows it to grow in multiple layers and facilitates the delivery of the nutrients it needs – CO2 and appropriate light spectrum. The oil is then extracted by breaking down the algae cell walls using the company’s Quantum Fracturing™ technology, a chemical-free microwave process. The complete system is modular, scalable and portable. By displacing fossil fuel use, OriginOil’s process also helps producers garner saleable carbon credits.
“We are honored to be recognized by the New Energy Congress,” said Riggs Eckelberry, OriginOil CEO. “Algae can be a petroleum replacement in all sorts of applications, including gasoline, diesel, plastics and solvents. The goal with our unique technology is to fundamentally change our source of oil without disrupting the environment or food supplies, as other biofuels do.”
About OriginOil, Inc.
OriginOil, Inc. is developing a breakthrough technology that will transform algae, the most promising source of renewable oil, into a true competitor to petroleum. Much of the world's oil and gas is made up of ancient algae deposits. Today, our technology will produce "new oil" from algae,
through a cost-effective, high-speed manufacturing process. This
endless supply of new oil can be used for many products such as diesel,
gasoline, jet fuel, plastics and solvents without the global warming effects of petroleum.
Other oil producing feedstock such as corn and sugarcane often destroy
vital farmlands and rainforests, disrupt global food supplies and
create new environmental problems. Our unique technology, based on
algae, is targeted at fundamentally changing our source of oil without disrupting the environment or food supplies. 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, and while expected, there is no guarantee that we
will attain the aforementioned anticipated developmental milestones.
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: the impact of economic, competitive and other factors
affecting the Company and its operations, markets, product, and
distributor performance, the impact on the national and local economies
resulting from terrorist actions, and U.S. actions subsequently; and
other factors detailed in reports filed by the Company.
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