OriginOil Recognizes Steven Shigematsu as Lead Inventor
– OriginOil Engineer’s Contributions Bring Enhanced Efficiency to Algae Production –
Los Angeles, CA — June 9, 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, today announced Senior Research Engineer Steven Shigematsu’s instrumental role in the company’s recent technical innovations and patent applications.
Mr. Shigematsu spearheaded the development of the company’s algae growth, scalability and extraction systems, leading up to recent patent filings for the Helix BioReactor™ and the Transportable Modular Photo Bioreactor. These inventions will create a more effective system to industrialize algae production on a large scale.
“Steven Shigematsu is a brilliant innovator who helped us achieve critical breakthroughs to maximize efficiencies in algae production,” said Nicholas Eckelberry, director of development. “He has also made further enhancements to our Quantum Fracturing™ technology used in algae oil extraction. We are currently developing another patent application to incorporate those innovations.”
Mr. Shigematsu has over 30 years of electronics and bio-engineering experience. As Chief Systems Engineer at Matterhorn California Inc., Shigematsu helped to pioneer and perfect a stream bank stabilization system still in use today in hundreds of locations throughout Northern California. This innovation became the de facto standard for waterways agencies seeking replacements for aging concrete flood channels.
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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