Visit by OriginOil to Algasol Showcase.
Following SABIC's visit in September, Algasol was privileged to also host Jean-Louis Kindler, Chief Commercial Officer of OriginOil Inc. (OTC/BB: OOIL). Mr. Kindler was impressed by the low-cost (CAPEX and OPEX) and operational efficiency of Algasol's patented Floating PhotoBioReactor (PBR), and reiterated the following remarks:
"Having demonstrated that we can easily harvest algae for fish feed, we have seen that growth systems are the next big problem. Bio-reactors and open ponds present challenges that Algasol's technology for growing micro-algae in floating bags can solve. It is a controlled, low-cost solution, and we are delighted to combine our harvester with their system."
The visit also highlights a renewed collaboration between the two companies. At the beginning of September it was announced that OriginOil and Algasol plan to combine their technologies at a massive algae fish feed production facility in Bangladesh, where Algasol has worked closely with its partner Radiant Corporation as well as the Government of Bangladesh.
Furthermore, Algasol is grateful that OriginOil showcased the Algasol PBR system at the recent ABO Industry Conference in San Diego and highlighted the great development opportunities ahead in Bangladesh and other parts of the world.
OriginOil has developed a breakthrough water cleanup technology for the oil & gas, algae and other water-intensive industries. Unlike other technologies, the company's patent-pending Electro Water Separation™ process rapidly and efficiently removes organic material from large quantities of water without the need for chemicals. For the oil & gas industry, OriginOil is helping clean up produced water and recycle fracking water, to reduce harm to the environment and lower costs. For the emerging algae industry, OriginOil is making large-scale harvest possible. For a world short on clean water, OriginOil is the lower-cost and cleaner answer. To learn more about OriginOil®, please visit our website at www.originoil.com.
About the Patented PBR Technology
The patented PBR system provides a critical and innovative method for microalgae biomass production. The modular floating bag technology, a new variation of photobioreactors, provides a low-cost design coupled with industrial scalability, optimal light exposure, high biomass concentration, low energy consumption, and efficient system control.
Our award winning photobioreactor technology breaks the cost barrier and allows microalgae production to be economically viable in the present tense. On average, our technology lowers CAPEX by 90% when compared to other growth systems, and is deployable both on land (in ponds) and in the oceans. To give you an example, 1 ha (10,000m2) of Algasol PBRs is as low as USD 52,500, including harvesting valves and internal aeration.
The main components of our worldwide patented technology include the following:
- General concept of controlling the position of a closed photobioreactor by providing a density difference between the algae culture inside the photobioreactor and the surrounding water
- Density Management System for submerging/angling the PBR
- Internal Aeration System
Visit Algasol's webpage for additional news and updates.
For more detail, our worldwide patent is accessible at www.wipo.int.
About Algasol Renewables
Algasol Renewables has naturally transitioned from a technology company, owning the most coveted patent and cost efficient (CAPEX, OPEX and productivity) on algae growth systems towards becoming one of the largest algal biomass manufacturers through its daughter companies, Algasol Bangladesh Ltd and Alga Biomass Bangladesh Ltd.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release are "forward-looking statements" within the meaning of the federal securities laws. Statements about our beliefs and expectations regarding our technology platform, our ability to efficiently develop new products, the potential wide applicability of our intellectual property and licensing opportunities, may constitute forward-looking statements. These forward-looking statements involve risks, uncertainties and other factors that could cause Algasol's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Investors are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. Any forward-looking statements speak only as of the date of this press release and, except as required by law, Algasol expressly disclaims any intent or obligation to update or revise any forward-looking statements to reflect actual results, any changes in expectations or any change in events. If Algasol does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements. Factors that could cause results to differ materially include, but are not limited to: (1) whether the patented technology will result in any new products or improve our ability to efficiently and effectively develop new products; (2) whether the patented technology will result in any new customers, partners, collaborations or licensing agreements; (3) Algasol's research and development efforts, and (4) Algasol's ability to successfully enforce its intellectual property rights.