OriginOil Named One of Top 30 Transformative Technologies for 2010 by Biofuels Digest
Algae-to-Oil Pioneer’s Technology Selected from more than 250 Leading Organizations, Universities and National Laboratories
Los Angeles, CA June 22, 2010 – 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 today that it has been selected as a winner of the Biofuels Digest “2010 Transformative Technology 30” awards.
Chosen by subscribers of the Biofuels Digest, the publisher of the most widely-read biofuels daily newsletter in the world, this year’s “Transformative Technology 30” recipients were selected from more than 48,000 votes, which were compiled during the contest’s three-weeklong voting period.
The readers chose from more than 250 companies, universities and national laboratories, including 100 organizations that received write-in votes, to determine which industries and which specific organizations were responsible for helping to radically alter the world’s biofuels landscape over the past year. OriginOil’s category, “MicroAlgae”, placed first in the publication’s “Leading Categories” section, receiving 17.83 percent of the votes, while OriginOil itself placed among the “Leading Organizations” section, alongside other industry powerhouses such as DuPont, Honeywell, Sapphire Energy and Ford Motor Company.
Jim Lane, editor of the Biofuels Digest, said: “OriginOil continues to prove in poll after poll that its technologies have made a consistently positive impression on the bioenergy community and have created a fund of goodwill for the company.”
“We are extremely honored and pleased to continue to be hailed by such a prestigious publication for our efforts in the algae-to-oil space,” said Riggs Eckelberry, President and CEO of OriginOil. “With each passing day, we have seen more and more just how important it is for us to develop sustainable fuels to dramatically reduce our petroleum addiction. Especially in light of the Oil Spill, the American public is quickly realizing that we must act quickly to satisfy the demand for scalable and affordable biofuels, and as this poll indicates, algae is the key solution.”
More information on other winners of the “Top 30 Transformative Technologies” awards can be found on the Biofuels Digest website.
News of this announcement comes on the heels of other developments from OriginOil, including the company’s signing with its first official customer, MBD Energy, an Australia-based company. With this Memorandum of Understanding, OriginOil will supply MBD Energy with its Quantum Fracturing™ and Single-Step Extraction™ systems for a multi-phase commercialization program that has the potential for both algae harvesting and bioremediation, which can purify areas contaminated by disasters such as oil spills.
Safe Harbor Statement:
Matters discussed in this update contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this update, 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»