OriginOil Releases Strategic Company Overview
- New Presentation Reviews Company’s Business Model in Fast-Moving New Energy Market -
Los Angeles, CA – February 25, 2009 – 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, announced that it has released an overview of its business model and strategic direction.
The company’s presentation, now available in the Investors section on the company’s website, discusses world energy trends and algae’s opportunity to succeed as the only truly sustainable bio-feedstock. It outlines OriginOil’s innovations to industrialize algae production, algae’s first commercial applications and the vital importance of creating a technology distribution network to ensure the rapid adoption of algae-based energy solutions.
“OriginOil’s technology is unique in our industry in that it will not compete with its partners and customers,” said Will Thurmond, Chairman of the National Algae Association, and Author of the Algae 2020 study. “They have a chance to become a leader in operating systems for the algae industry, and that’s an exciting concept.”
Due to low capital needs and mostly low-tech materials, bioenergy can play a key role in helping the Obama administration create up to ten million new energy jobs in the coming decade.
“If you can build a brewery, you can make industrial algae,” said Eckelberry. “That is a tremendous opportunity for entrepreneurs and it means that biofuels production can potentially generate clean energy, reduce carbon emissions and create jobs much faster than any other way.”
To make this possible, algae needs a new distribution network that encourages information sharing and local production initiatives. CEO Eckelberry visualizes the worldwide result as “mushrooms after the rain,” with algae systems cropping up everywhere at the same time.
“We are building a world network,” said Eckelberry. “On one side, we have those who help us build core technology, prepackaged applications and engineering services, and on the other side, our geographic partners who will implement these solutions.” Eckelberry continued, “The end goal is a world information-sharing network that will catapult algae into its rightful role as the replacement to petroleum.”
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»