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OriginOil Acknowledged as Prominent Algae-to-Oil Company on Capitol Hill
Algae-to-Oil Developers like OriginOil recognized before the Senate Subcommittee on Environment and Public Works
May 21, 2009 5:00:00 AM
Copyright Business Wire 2009


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View Additional ProfilesLOS ANGELES--(BUSINESS WIRE)-- 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, announced that its breakthrough technology was recognized in testimony provided before the Senate Subcommittee on Environment and Public Works on May 19, 2009.

During the session, which was entitled "Business Opportunities and Climate Policy," Cynthia Warner, President of Sapphire Energy, commented on the many benefits of utilizing algae as the foundation for a new generation of renewable and low carbon transportation fuels. "Algae is one of nature's most prolific and efficient photosynthetic organisms," she explained. "Growing algae, and converting it into plastics, fuels, and or secondary feedstocks, could significantly help mitigate greenhouse gas emissions, reduce energy price shocks, reclaim wastewater, conserve fresh water (in some scenarios), lower food prices, reduce the transfer of U.S. wealth to other nations, and spur regional economic development."

Her testimony also named OriginOil as one of the prominent algae-based fuel companies to develop "fascinating algae-based biological carbon capture and beneficial reuse applications." She closed her testimony by highlighting the "transformative business opportunity that has been presented by climate policy, declaring that these companies can "produce a new generation of transportation fuels for the world that are low-carbon, produced right here in the United States, and that generate renewed economic growth and new green-collar jobs."

"We are honored that Ms. Warner included us in her testimony and could not agree more that our government must embrace the use of algae in helping to create jobs and reduce our dependence on foreign petroleum," said Riggs Eckelberry, CEO of OriginOil. "There is no doubt that algae is the future, and we are looking forward to what lies ahead for the industry upon receiving full government support for research and development efforts."

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(TM), 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 recognized before the Senate Subcommittee on Environment and Public Works on Capitol Hill.

Keyword List

algae fuel production, algae oil, algae oil extraction, algae to oil, alternative fuel source, alternative fuel sources, oil from algae, ooil, originoil, originoil inc, riggs eckelberry, sapphire energy



Source: OriginOil, Inc.


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