OriginOil in Fast Company, Bill Gates on Algae
From: Riggs Eckelberry
Los Angeles, July 11, 2011
Thanks for your great good wishes last week, as we wrapped up our first institutional financing! We were honored to work with Rodman & Renshaw, Wall Street’s premier firm in this line.
Our roadmap from here takes us to a major listed exchange, and the ability of mutual funds and other institutions to invest in us.
OriginOil in Fast Company
Fast Company (which started as a hot mag in the dot-com days), picks up on the unique synergy between algae and the coal industry in its new article, Dirty Coal And Algae Fuel: The Start Of A Beautiful Friendship:
Algae eats CO2, and then it makes fuel. Where do we have a lot of CO2? Spewing out of coal power plants. Now OriginOil is working to use those emissions to feed algae and ramp up the biofuels business.
At the end of the article, I say: “Our main limitation is we can process far more algae than most people have in production”. That’s very true – for the moment.
But many companies are ramping up now in every continent. Great timing for us to solve their low-energy harvesting challenge. And they all run into it…
Bill Gates on Algae
In the July issue of Wired Magazine (another hottie from dot-com days), Bill Gates comments on the Food-to-Fuel problem:
…If you’re using first-class land for biofuels, then you’re competing with the growing of food. And so you’re actually spiking food prices by moving energy production into agriculture. For rich people, this is OK. For poor people, this is a real problem, because their food budget is an extremely high percentage of their income. As we’re pushing these things, poor people are driven from having adequate food to not having adequate food.
The most interesting biofuel efforts avoid using land that’s expensive and has high opportunity costs…
He says: “…There’s a ton of algae stuff. The number of ways to do things with algae is pretty amazing, and I’m invested in a number of them.”
Good company to be in!
Have a great week.
Riggs and team
President & CEO
OriginOil, Inc. (OOIL)
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