Los Angeles Business Journal Profiles OriginOil
City’s Official Business Magazine Introduces OriginOil in Full-Page Article –
Los Angeles, CA – August 5 2008 – 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, reported today that the weekly Los Angeles Business Journal has featured OriginOil in its August 4th issue.
The Los Angeles Business Journal is the city’s business magazine of record. In the full-page profile, entitled “On Golden Pond?”, available on newsstands and online at the Los Angeles Business Magazine website, staff reporter Richard Clough interviewed CEO Riggs Eckelberry on how the company was launched, its technology and its prospects.
The profile featured commentary by Neil Sullivan, an investor in OriginOil, who said: “It’s innovative technology, it’s in the right sector and it’s got a tremendous CEO in Riggs Eckelberry and a proven veteran in the alternative energy field – Paul Reep.”
Marc Levinson, a biofuel analyst for JP Morgan Chase & Co., also commented: “Levinson said algae hold promise because, unlike corn- and sugar-based ethanol, algae do not require extensive farmland and are not affected by shifts in food prices.”
Levinson further noted algae is “a long way from prime time.” His comment echoed Mr. Eckelberry’s contention: “Algae has been spoken about for 25 years as being the fuel of the future,” he said. “And it’s still the fuel of the future. Somebody’s got to bring it into the present.”
In the profile, Mr. Eckelberry also discussed the company’s business strategy of developing the technology and licensing it to biofuel producers worldwide. He remarked: “We’re going to basically facilitate this algae revolution. One company is not going to make algae for everybody else. We decided to make systems and solutions that can be delivered widely in the industry.”
In closing, Clough reported on the company’s status as a public company. He wrote: “…for all the risk inherent in…volatile stocks, OriginOil has remained fairly consistent. After opening at 10 cents, the company’s stock rose to 20 cents by the end of its first day of trading. As of last week, shares were trading at 45 cents – near its all-time high.”
