OriginOil to help Mexico industrialize algae production

OriginOil, Inc. (OOIL), the developer of breakthrough technology to transform algae, the most promising source of renewable oil, into a true competitor to petroleum, has agreed to participate in a pilot scale algae project to be funded by the Mexican government. OriginOil, Inc.’s technology will produce “new oil” from algae, through a cost-effective, high-speed manufacturing process. This endless supply of new oil can be used for many products, such as diesel fuel, gasoline, jet fuel, plastics and solvents, without the global warming effects of petroleum. The project will demonstrate industrial algae production, paving the way for substantial investment by the Mexican government in large-scale jet fuels production. (February 15, 2011)