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 company's Chief Scientist, Dr. Vikram Pattarkine, will address an investor-oriented audience with a presentation on algal biofuels during the BioEnergy Day 2009 Conference in Toronto, on November 24, 2009. Dr. Pattarkine will be a panel presenter at a session entitled, "North American Advanced Bioenergy," where he will discuss alternative energy sources and algal biofuels as a promising and much-needed technology solution.
Unlike many current approaches to algae oil cultivation, OriginOil is rapidly moving toward the path of commercialization by employing several next-generation technologies to greatly enhance oil extraction, which allows for the creation of a high-yield, cost-competitive replacement for petroleum.
"We continue to expand in the tech arena and look forward to utilizing biofuels to its fullest potential," said Dr. Pattarkine. "The Canadian government has committed to a 5 per cent average renewable content in gasoline and diesel fuels by 2010, and we believe algae would be one of the most promising feedstocks for achieving this goal."
OriginOil recently unveiled a series of announcements, including: a Single Step Extraction™, or a low energy process to extract oil from algae; the completion of Phase 1 of a Cooperative Research and Development Agreement with the U.S. Department of Energy's Idaho National Laboratory (INL) to develop a comprehensive mass-energy balance of OriginOil's proprietary process; and patent protection for its new Attached Growth System, which plans to be integrated into a demonstration algae system currently being built at OriginOil's headquarters.
Dr. Pattarkine and OriginOil CEO Riggs Eckelberry recently spoke at the National Algae Association's quarterly Conference in Houston and outlined a plan to share the first-ever interactive model for algae production. Earlier this year, Dr. Pattarkine also spoke at the Asian Development Bank's Annual Developing Member Countries Sanitation Dialogue on how algae could be integrated into wastewater treatment applications.
BioEnergy Day 2009 is a unique one-day conference and opportunity for institutional investors to meet with executives from power, oil refining, forest products, fertilizer and sustainable fuel companies. The conference will take place on Tuesday, November 24 at Le Royal Meridien King Edward Hotel in Toronto, Ontario. A webcast of the event will be available at www.scotiacapital.com.
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:
OriginOil chief scientist Dr. Vikram Pattarkine to speak November 24 at BioEnergy Day 2009 in Toronto.
Keywords:
algae biofuel, algae to oil, algae oil, algae oil extraction, bioenergy day 2009 toronto, originoil, ooil, renewable oil, riggs eckelberry, scotia capital, single step extraction, vikram pattarkine
Press Contact:
Beckerman Public Relations
Maria-Christina Zajac
201-465-8026
maria-christina@beckermanpr.com
or
Investor Relations Contact:
OriginOil, Inc.
Tom Becker
Toll-free: 877-999-OOIL(6645) Ext. 641
International: +1-323-939-6645 Ext. 641
Fax: 323-315-2301
ir@originoil.com
www.originoil.com
