Second year ranking improves in hotly contested field of over 1400 companies
Los Angeles, CA December 03, 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, has been selected for the second year as one of the “Hottest 50 Bioenergy Companies” by Biofuels Digest, the publisher of the most widely-read biofuels daily newsletter in the world.
OriginOil’s position advanced in rank from 45 to 42 in a hotly contested field of over 1400 companies worldwide working in algae, ethanol, renewable diesel and biobutanol. The ‘Hottest 50’ list and the expanded ‘Hot 100’ were chosen by an international panel of invited Selectors, and subscribers to the publication’s daily newsletter. The Selectors ranked OriginOil #38.
“Thirteen of the top 50 companies are working on micro-crops and algae-based biofuels, including three of the top five,” said Jim Lane, the publication’s editor. “With companies such as Chevron, ExxonMobil, Shell and BP investing in algae-based fuels, there couldn’t be clearer signs that algae is now viewed as the most promising of all the emerging biofuel platforms.”
“We salute our fellow algae companies on the Hottest 50, some of whom have joined us for the first time,” said Riggs Eckelberry, OriginOil’s President and CEO. “We look forward to complete domination of the list by algae producers and refiners worldwide, all supported by advanced technology firms like OriginOil.”
Eckelberry spoke recently at the Next Generation Biofuels Feedstocks USA conference on the vital importance of rapidly solving the world’s need for renewable energy by using distributed bio-energy networks. On the eve of the Conference of Parties in Copenhagen (COP-15), he encouraged the adoption of biofuels to meet the renewable energy challenge posthaste.
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.
