- OriginOil’s Groundbreaking Algae-to-Oil Technology Selected from More than 1,000 Candidates -
Los Angeles, CA - December 22, 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 been selected as one of the “50 Hottest Companies in Bioenergy” by Biofuels Digest, the publisher of the most widely-read biofuels daily newsletter in the world.
“This prestigious award reaffirms the promise of algae as a viable competitor to petroleum and OriginOil’s unique technology to grow algae economically, and on a scale large enough to replace petroleum,” said Riggs Eckelberry, President and CEO of OriginOil. “We are honored to be recognized for being on the ground floor of a world-changing energy market and are enthusiastic about the road ahead.”
Winners of Biofuels Digest’s “50 Hottest Companies in Bioenergy” award will be honored at a presentation in Washington DC on April 20, 2009, in conjunction with the Advanced Biofuels Development Summit. Rankings were based on the votes of the Biofuels Digest award panel and reflected the importance of news announcements made in 2008. Votes were weighted by industry and region to ensure a fair and broad representation of companies and technologies.
Jim Lane, Editor of Biofuels Digest, commented: “Even at this early stage of the algae-to-energy race, OriginOil has proven itself to be a ‘hot’ company to watch closely, with a unique technology path that has generated a great deal of attention.”
News of this announcement comes on the heels of other developments from OriginOil, including the most recent successful automation of its patented Helix BioReactor™, which allows for algae culture to replicate exponentially within a smaller installation footprint. Automation of this system is a key step towards continuous algae production, allowing greater control of the growth environment and efficient, low-cost industrial algae production.
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