From: Riggs Eckelberry
Los Angeles, March 21, 2011
Paul Reep Appears on MoneyTV
On Friday, the MoneyTV show featured our new Senior VP of Technology, Paul Reep.
(You can catch the broadcast here.)
On the show, Paul discussed his education in both Petroleum Engineering and Business Administration, and his twenty years in managerial positions at the Department of Energy, in both nuclear and renewable energy. It was the twenty-year DOE Aquatic Species Program that first awakened Paul's interest in commercializing algae.
Our own interest in bringing Paul into OriginOil dates back more than two years ago, and we've been waiting for him to complete his assignment at the USC Stevens Institute for Innovation, where he juggled up to two hundred technology licensing cases at a time!
Universities these days are serious about commercializing their inventions, and Paul's skill set is very much what OriginOil needs. Paul is very, very welcome aboard.
Algae and Nuclear Developments
Given Paul's background in nuclear energy, the discussion naturally turned to the ongoing nuclear emergency in Japan. In contrast to nuclear energy, algae is not only safe, it is already everywhere — absorbing more than half of the CO2 being created in the world every day!
That's very good news, because problems with nuclear energy will drive a boom in fossil fuels (and rising prices over time). Only algae can absorb all that CO2, while turning into a true alternative to petroleum and natural gas.
CO2 and Acid Rain
There's been a long debate over climate change. Meanwhile, one thing is undeniable about CO2: it is acidifying our lakes and oceans (remember acid rain?). Fisheries and coral reefs are endangered. The destruction of whole ecosystems is too high a price to pay for using fossil fuels.
We'll be covering more about this fascinating subject in coming MoneyTV shows, so stay tuned.
And here's to a great week ahead!
Riggs and team
President & CEO
OriginOil, Inc. (OOIL)
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