OriginOil, Inc. (OOIL.OB) is pleased to announce that the companyâ€™s CEO, Riggs Eckelberry, will participate in a panel alongside other industry leaders at the Algae Biofuels Summit on March 24, 2009. As much of the worldâ€™s oil and gas sources are made up of ancient algae deposits, scientists worldwide are focused on finding methods of producing â€œnew oilâ€ from algae. OriginOil has developed technology that transforms algae into an alternative fuel source that is comparable to petroleum.
The Algae Biofuels World Summit will gather top scientists from around the globe in the first major event focused on algae biofuels. Representatives from the US Department of Agriculture, US Department of Entergy, the National Algae Association, and others will be present at the Marinesâ€™ Memorial Club & Hotel in San Francisco. The goal of the summit will be to provide an open forum for discussion and to build links between those within the value chain to make the algae biofuel industry into a functioning entity.
â€œWe came to OriginOil last year with the idea of extending our well-proven value chain concept to the new industry of algae biofuels,â€ stated Infocastâ€™s President Bill Meyer. â€œCEO Riggs Eckelberry gave us his immediate support and quickly enlisted other players such as the National Algae Association. OriginOil is clearly committed to building an algae biofuels industry and has already shown itself to be a strong player in our fast-growing community.â€
Eckelberry will participate in the first panel of the Summit titled â€œAlgae Biofuels Industry Drivers and Business Models.â€ Along with executives from Solazyme, the National Biodiesel Board and Marathon Oil, the panel will go through the full value chain and help attendees understand what business models will best fit the new industry. OriginOil believes in taking a lead in creating a strong worldwide network of manufacturers, researchers, providers and customers, so Eckelberryâ€™s participation on the panel only proves his commitment to the algae biofuel industry.
â€œThe Algae Biofuels Summit directly supports this vision and that is why we have been such strong supporters of the event. We look forward to the opportunity to build a central role for algae in helping to reduce the worldâ€™s dependence on petroleum,â€ said Eckelberry.