OriginOil to Collaborate in Algae to Jet Fuel Project Funded by Japan Science & Technology Agency
Partnership will pursue aircraft fuel mandates given top priority by Japanese government
Los Angeles, CA December 9, 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 the company has agreed to partner with Research Institute of Tsukuba Bio-Tech (RITB), recently approved for funding to develop algae to jet fuel applications by Japan Science & Technology Agency (JST).
Headed by Tsukuba University professor emeritus and algae researcher Takaaki Maekawa PhD, RITB recently signed a Memorandum of Understanding (MOU) with OriginOil to develop and distribute systems in Japan for aircraft fuel production, algae to oil production, and other industry applications.
RITB was recently approved for funding by Japan Science & Technology Agency (JST) for two years of research and development activities based on its proposal to the agency. Professor Maekawa’s presentation to JST can be found as a PDF on the RITB site.
“Our funders have set a priority on sustainable aircraft fuels. Together with OriginOil we will target these fuels,” said Professor Emeritus Dr. Maekawa. “We look to OriginOil for the needed technology and resources to help carry out this vast assignment.”
“We salute Japan Science & Technology Agency for its initiative in algae-based jet fuel,” said Riggs Eckelberry, OriginOil CEO. “We are privileged to have been asked by RITB to support Professor Maekawa’s high-priority efforts over the next two years. We look forward to helping make his program a major success.”
In the partners’ first joint action, OriginOil spoke at a recent invitation-only workshop at Tsukuba University, which was attended by RITB collaborators such as Japan Airlines (JAL) Aero-Consulting, IBDAIWA, Mitsubishi Chemicals, Dow Chemical, Dentsu Tech, Tsukuba Agricultural Cooperation, NPO Genki Agricultural Production Organization, Nagata Trade Company, Tosho Merchandise Corporation as well as representatives of Aomori Prefecture and Tsukuba City.
On January 30, 2009, Japan Airlines made a successful biofuels flight test using a blend of camelina, algae, and jatropha; testing by the airline’s pilots showed that the blend was more fuel-efficient than 100 percent traditional Jet A fuel (kerosene).
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.
Return to Announcements»