OriginOil Files International Patent for Quantum Fracturing Technology
– Company Seeks Worldwide Protection for Its Technology to Improve Efficiency of Algae Oil Production –
Los Angeles, CA – July 31, 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, has recently deposited an international PCT patent application pursuant to last year’s filing of United States patent application 11/829,883 with the United States Patent Office. The international application is related to OriginOil’s first patent application to optimize the growth and harvesting of algae cells.
The application titled, “Algae Growth System for Oil Production,” discloses OriginOil’s proprietary system and industrial process whereby microalgae can be grown and harvested rapidly to extract algae oil for fuel and chemical production. This technology is branded Quantum Fracturing™.
“We have tremendous opportunities outside the United States,” said Riggs Eckelberry, CEO. “In the past year, we have received hundreds of inquiries from potential partner and customer companies worldwide, some of them multi-national in size. The international protection of our intellectual property will allow us to follow up on those opportunities and help the world industrialize the production of algae for renewable oil.”
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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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