OriginOil, Inc. (OOIL.OB) Leads the Way in Algae to Oil Technology
OriginOil Incorporated is developing a breakthrough technology that will transform algae into a true competitor to petroleum. Algae is one of the most promising future sources of renewable oil. Much of the world’s oil and gas deposits came from ancient algae deposits.
On April 20, 2009, OriginOil announced an innovative single-step process to extract oil from algae. In addition to integrating this process into its own production system, the company plans to rapidly commercialize the patent-pending process for use by others in the rapidly-growing algae industry.
Initial testing indicates that the new algae oil extraction process is simpler and more efficient than current systems, without requiring chemicals or significant capital expenditure for heavy machinery. Unlike some competing systems, the company’s process will not disrupt the environment or the food supply chain.
The company released a time-lapse video which begins with a batch of algae that has just gone through OriginOil’s process. In less than an hour, the oil, water and biomass separate by gravity alone. Unlike conventional systems, no chemicals or heavy machinery are used in this single-step process, and no initial dewatering is required.
During appearances with various media outlets, OriginOil CEO Riggs Eckelberry explained OriginOil’s process. Mr. Eckelberry stated that the company’s inherently eco-friendly production process doesnâ€™t result in waste materials. That is, the process not only purifies dirty water, digests carbon dioxide and produces a biofuel, but even the remaining biomass can be used as a fertilizer.
Mr. Eckelberry also commented on OriginOil’s ability to solve a critical issue for scalable algae-to-oil production: â€œWe’ve pioneered a single-step extraction technology that will get the oil out of the algae in one simple, elegant step. We are taking this solution to market while continuing to enhance our end-to-end system for the growing algae industryâ€.