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 –
Los Angeles, CA – May 21, 2009 – OriginOil, Inc. (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.
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.”
Safe Harbor Statement:
Matters discussed in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this 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.
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