OriginOil Execs Unveil New Algae Productivity Model at National Algae Association’s Quarterly Conference

LOS ANGELES--(BUSINESS WIRE)--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, announced that the National Algae Association's (NAA) quarterly conference applauded OriginOil’s presentation of a first-ever comprehensive algae production model, developed with the Idaho National Laboratory (INL) of the Department of Energy under its collaborative research agreement with OriginOil.

“To encourage contribution by all concerned, an industry group like the NAA should ultimately host the model, and we are in talks to help them do just that.”

CEO Riggs Eckelberry and chief scientist Dr. Vikram Pattarkine took turns outlining the new model in an OriginOil presentation. They used the extensive spreadsheet to illustrate their points interactively.

"We knew that the first company to actually come out and openly document the real productivity picture would face a tough challenge," said Barry Cohen, executive director of the National Algae Association. "OriginOil did it and now we have the beginning of an industry model."

Key contributors included the Idaho National Lab (INL) of the Department of Energy, which helped develop the energy and mass balance model as part of its collaborative research agreement with OriginOil; leading multinational oil and fats producer Desmet Ballestra, for capital costs and materials pricing; and principals of Orineo Renewables, for guidance on pricing and value-add product strategy.

At the end of the presentation, CEO Eckelberry outlined plans to share this first-ever interactive model for algae production through a process of publishing various calculators on the company’s website and also making the detailed model available to researchers.

"Imagine what it means for a business planner or researcher to be able to turn to this model and easily adapt it into their requirements," said Eckelberry. "To encourage contribution by all concerned, an industry group like the NAA should ultimately host the model, and we are in talks to help them do just that."

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.

Abstract/Short Description

OriginOil executives Riggs Eckelberry and Dr. Vikram Pattarkine outline industry first algae productivity model at National Algae Association conference, September 18, 2009.

Keyword List

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