- System Optimizations Are Ready for Scaling Up to Larger Designs -
Los Angeles, CA – September 23, 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, today announced that the fine tuning of the Helix Bioreactor™ subsystems has yielded positive results.
In its original May 2008 patent filing for the Enhanced Algae Growth System, the company reported initial algae production metrics based on its first prototype of February 2008. Since that time, the engineering team has fine tuned the Helix BioReactor subsystems to further increase performance characteristics. These have now yielded sufficient results to begin design and layout of larger scale systems.
Senior technical advisor Paul Reep commented: “Discrete testing of each system component is now being performed to ensure better projection of the performance of larger systems.” He continued, “These tests have also been helpful in contributing to the ongoing design study to identify low cost Commercial Off The Shelf (COTS) components for use in full scale systems.”
“COTS is a preferred design/build standard that can lower initial production costs and afford many advantages that greatly simplify in-field operational maintenance”, said CEO Riggs Eckelberry. “We are committed to algae production systems that use simple, commodity materials and construction for maximum adoption worldwide.”
Eckelberry added, “We are extremely pleased with the progress of the technology team as it scales up its prototypes. The growth metrics we are encountering are extremely positive and are being validated by external reviewers. We believe that we are well on our way to achieving a competitive fuel that can truly compete with petroleum.”
Safe Harbor Statement:
Matters discussed in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this update, 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.
