LOS ANGELES & PALMA DE MALLORCA, Spain--(BUSINESS WIRE)--OriginOil Inc. (OTC/QB: OOIL), developer of Electro Water Separation™ (EWS), the high-speed, chemical-free process to clean up large quantities of water, today announced that it will provide algae harvesting technology for the low-cost algae growth system from Algasol Renewables. The integrated system will launch at Algasol’s new facilities in Bangladesh — a unique, large-scale demonstration of micro-algae production for fish feed.
"With our technology showcase in Bangladesh, we plan to demonstrate the feasibility of large-scale fish feed production operations capable of utilizing healthy and low-cost algae," said Miguel Verhein, Executive Director of Algasol Renewables. "We’re very pleased that our long-time partner OriginOil plans to join us to equip the showcase with the company’s own Electro Water Separation process for algae harvesting for fish pellets.”
Algasol has estimated that the Bangladesh site will launch in the coming months with strong support from the local and national government. Initially, the site will cover 6.5 acres, and be capable of producing approximately 25 tonnes of micro-algae per month. Algasol recently launched a showcase site on the island of Mallorca, Spain (PHOTOS), which OriginOil also plans to equip for harvesting in spring 2015.
Algasol Renewables estimates that algae can be produced for feed using its proprietary technology at industry-low prices, and is negotiating agreements for micro-financing to help large numbers of small farmers in the low-lying delta region of Bangladesh roll out this complete growth and pelletizing system.
Under this plan, Algasol intends to commit to two initial OriginOil harvesters with a processing capacity of 120 liters per minute each for the Bangladesh showcase before the end of 2014, with a short term expectation of roughly 40 more such units.
In a May, 2012 joint announcement, Algasol, collaborating with NASA and Lawrence Berkley National Laboratory, agreed to bundle its offering with the OriginOil Algae Harvester™. This new project is an expansion of that early marketing partnership.
“Algae production faces two major challenges—growing algae quickly and efficiently, and harvesting it at a low cost. Here at OriginOil we’ve found a solution for harvesting algae. Our partners at Algasol are highly focused on growing algae,” said Jean-Louis Kindler, OriginOil’s Chief Commercial Officer. “Bio-reactors are too expensive for massive scale, and open ponds cannot provide the contaminant-free environment that the human food chain requires. Algasol’s patented technology for growing micro-algae in floating bags is the controlled, low-cost solution, and we are delighted to combine our harvester with their system.”
In December of 2013, OriginOil inaugurated its Permanent Technology Showcase with a demonstration for local and state officials at Aqua Farming Tech, a sustainable fish farm in Thermal, Calif., located in California’s Coachella Valley.
Since that time, OriginOil has continued to demonstrate efficient algae harvesting for fish feed at the site (PHOTOS)
Aquaculture is a huge and fast-growing industry. The $100 billion industry is expected to increase by 33 percent between 2012 and 2022, compared to an increase of only 3 percent in capture fisheries, according to the United Nations (The State of World Fisheries, P. 188). But the growth is leading to operational and environmental problems, including the high costs of energy and fish feed.
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About OriginOil, Inc.
OriginOil has developed a breakthrough water cleanup technology for the oil & gas, algae and other water-intensive industries. Unlike other technologies, the company's patent-pending Electro Water Separation™ process rapidly and efficiently removes organic material from large quantities of water without the need for chemicals. For the oil & gas industry, OriginOil is helping clean up produced water and recycle fracking water, to reduce harm to the environment and lower costs. For the emerging algae industry, OriginOil is making large-scale harvest possible. And in aquaculture, OriginOil is helping improve yields and making seafood healthier by dramatically reducing the levels of toxic ammonia and bacteria in water. For a world short on clean water, OriginOil is the lower-cost and cleaner answer. To learn more about OriginOil®, please visit our website at www.originoil.com.
About Algasol Renewables
Algasol Renewables is a technology company with a unique technology for low-cost production of micro algae biomass in a closed environment. The technology is a flexible multi-compartment photobioreactor floating on water that can be deployed both on land in ponds or in the ocean. A patent issued in 46 countries, and pending in others, covers all key aspects of the PBR technology, and Frost & Sullivan awarded Algasol Renewables the prestigious Global Algae Biofuels Award.
OriginOil 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.
Algasol Renewables and OriginOil partner on large-scale algae fish feed production venture in Bangladesh; OriginOil’s algae harvesting process to be integrated into large-scale showcase of algae production for fish feed
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