Somethings up! Two PR's in a week???
Odyssey Oil & Energy, Inc. Announces Pilot Plant Update
JOHANNESBURG, South Africa, March 19, 2010
GLOBE NEWSWIRE
Odyssey Oil & Energy, Inc. (OTCBB:OOGI) announces pilot plant updates.
The Algae Bio-Fuels/Carbon Capture pilot plant at the Boschoek smelter has been running successfully for 8 months. During this time, many modifications have been made to improve the growing conditions and productivity of the plant. The plant has met and exceeded all goals set to date. We are currently introducing the carbon dioxide from the smelter directly into the pilot plant. This is a major step towards the completion stage of testing. The process turns harmful emissions into oxygen while producing bio-fuel, a clean renewable source of energy.
About the Bio-Fuels Division
ALG Western Oil (Pty) Ltd., a subsidiary of Odyssey, is currently operating in a joint venture with Xstrata Alloys, a subsidiary of Xstrata Plc (LSE:XTA), the world's largest producer of ferrochrome, in a project at one of Xstrata's Ferrochrome smelters near Rustenburg in South Africa to capture and sequestrate the carbon dioxide emissions, thereby creating carbon credits.
Currently, all the carbon monoxide from the ferrochrome smelters is flared to carbon dioxide and released into the atmosphere.
The current phase is the growing of a selected algae strain in photo bio-reactors, utilizing the carbon dioxide (CO2) flue gas coming from the exhausts of the generators (with the aid of sunlight and some nutrients through the process of photosynthesis) to sequestrate the environmentally harmful CO2 emissions and produce high value compounds like vegetable oil which can be used directly as a bio fuel instead of diesel and/or jet fuel, carbohydrates and protein to be used in the animal feed industry and the release of oxygen back into the atmosphere.
ALG Western Oil has a pilot plant at Xstrata's Boschoek Smelter. The next phase will be the rolling out on a commercial scale.
The process turns harmful emissions into oxygen while producing bio-fuel, a clean renewable source of energy. By using Algae as the feedstock, no food-related resources are being consumed to produce the bio-fuel.
This release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which represent the company's expectations or beliefs concerning future events of the company's financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. These factors include the effect of competitive pricing, the company's dependence on the ability of third party manufacturers to produce components on a basis which is cost-effective to the company, market acceptance of the company's products and the effects of government regulation. Results actually achieved may differ materially from expected results included in these statements.
CONTACT: Odyssey Oil & Energy, Inc.
+27(11) 807-1446
www.odysseyoil.net
