From: Riggs Eckelberry
Los Angeles, November 1, 2010
If you're in the USA, you know there's widespread speculation that the Republicans will take back ground tomorrow in the House, Senate and in the States.
What will this mean for algae? Actually, this is likely to change very little for our young industry. If anything, it could give us a boost.
The BIGGEST reason is national security, always a Republican priority. Did you know that our research agreement with the Department of Energy was actually developed during the Bush administration... driven by national security concerns?
The U.S. Navy is strongly committed to algae and plans to do test runs of its entire non-nuclear fleet by the end of 2012 using algae fuel. By 2020, The U.S. military hopes to run 50 percent of its fleet on a mixture of renewable fuels and nuclear power.
Then there's the petroleum industry, which has already voted with its dollars by investing deeply in algae.
Meanwhile, algae projects are popping up all over the world. Our strategic customer in Australia, well-funded by the mining industry, is building algae systems to absorb heavy CO2 emissions by the big fossil fuel operators! This is deeply interesting to US coal, oil and gas interests.
Algae is built into the world's energy plans. We are the solution and we have the momentum.
Our own systems are now in the field, being tested intensively to help keep that momentum. We'll keep you updated on our progress over the coming weeks and months. This is a very exciting time.
We know we're very lucky to have your support. We'll continue to work hard to earn it!
Riggs and team
President & CEO
OriginOil, Inc. (OOIL)