- CEO Riggs Eckelberry Discussed OriginOil's Breakthrough Technology and Industry's Prospects -
Los Angeles, CA – July 23, 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 its successful first public presentation on July 17 to a standing-room-only audience at the National Algae Association (NAA) conference in The Woodlands, Texas.
For the first time, the company publicly discussed its technology, business model and commercialization strategy. The presenter, CEO Riggs Eckelberry, showed first images of an early prototype of the Helix BioReactorTM indoor growth vessel, and discussed the algae industry's current status and prospects.
"We're honored to be a member of the National Algae Association. Its fast-growing membership reflects the increasing interest in algae-to-oil technologies and the great potential of our industry. We look forward to sharing the OriginOil vision with our fellow members," said Riggs Eckelberry, OriginOil's CEO.
"I was astonished at the energy and excitement in the crowd," said Eckelberry. "This core group is focused on tackling the algae-to-oil challenge to deliver on algae's extraordinary potential as a replacement for petroleum. We all agreed on the need for close collaboration to come up with the best solutions to make this happen sooner rather than later."
A ten-minute Q&A session stretched into a half hour of wide-ranging discussion between the CEO and the crowd of industry insiders and entrepreneurs. Audience members frequently returned to OriginOil's vision of a standardized Base Module for algae oil production, which was seen as a way to get customers started quickly, and then scale up to full-scale systems with OriginOil's help and technology package.
"At the NAA event, OriginOil was among a small group of organizations that presented a new breed of innovative, next-generation algae production systems," added Will Thurmond, chairman of the Association's Research and Development Roundtable. "OriginOil presented a unique lighting technology with 360 degree coverage designed to improve the acceleration of algae growth production for use in biofuels," said Thurmond.
The National Algae Association conference was attended by more than 250 delegates from around the world representing emerging technology companies including OriginOil, Algae Production Systems, Aquatic Energy, SarTec, PHYco, Star Energy and Sunlight Direct; Fortune 500 companies including Bayer, Lockheed Martin and Dow Chemical; cutting-edge universities such as University of Louisiana, and governmental agencies such as the United States Department of Agriculture (USDA).
Barry Cohen, chairman of the National Algae Association, said, "Riggs Eckelberry's presentation to this standing-room-only audience underscored the need to present innovations and solutions to advance the acceleration and growth of the algae industry today. We welcome OriginOil's participation as a member and its plans to help sponsor our Association."
The National Algae Association (NAA) holds quarterly forums in The Woodlands near Houston, Texas, and plans a series of workshops and webinars between these events. The Association's website is http://www.nationalalgaeassociation.com.