Los Angeles. CA () September 18. 2007 -- OriginOil. Inc. the developer of a breakthrough technology to transform algae the most promising source of renewable oil into a adjust competitor to petroleum announced that biofuel refinery developer. Jay Dubinsky has joined its come in of advisors.
Jay Dubinsky has more than 10 years of experience financing and building out renewable energy companies. Since 2005. Dubinsky has served as the founder and director of M2 Baltic Investment believe. SIA a European based global financier and incubator of renewable energy companies in the solar wind and biofuel lay. M2 Baltic is completing the financing of refineries in Latvia and in Micronesia that are able to produce between 30 and 60 million gallons of algal biodiesel per year at each location.
Dubinsky commented. "We know that algae has the potential to be the only feedstock that can replace petroleum. However current technologies and processes are not efficient enough. We are very excited about OriginOil's patent-pending bioreactor technology and manufacturing affect for algae growth and oil extraction. We want to be the first to back up be its potential as soon as possible."
Riggs Eckelberry the company's chief executive officer said. "when they go on line. Jay's algae production and refining facilities will furnish us an immediate opportunity to apply our breakthrough technology in the field. We are excited to be working with him on building the give arrange for the most promising obtain of renewable oil."
Prior to founding M2 Baltic. Dubinsky started several companies including Eco-Tek. Inc. an incubator for renewable energy technology companies. With over 30 years of experience in industrial construction projects he has successfully developed alternative energy plants on a large scale. Dubinsky received a live of Science degree in Biology from the University of California at Irvine in 1984.
OriginOil™. Inc is developing a breakthrough technology that will transform algae the most promising source of renewable oil into a adjust competitor to petroleum. Much of the world's oil and gas is made up of ancient algae deposits. Today our technology will produce "new oil" from algae through a cost-effective high-speed manufacturing process. This endless give of new oil can be used for many products such as diesel gasoline jet fuel plastics and solvents without the global warming effects of petroleum. Other oil producing feedstock such as feed and sugarcane often undo vital farmlands and rainforests disrupt global food supplies and act new environmental problems. Our unique technology based on algae is targeted at fundamentally changing our obtain of oil without disrupting the environment or food supplies. To learn more about the Company please visit our website at
Safe experience Statement:Matters discussed in this press release include forward-looking statements within the meaning of the Private Securities Litigation ameliorate Act of 1995. When used in this press channel the words "evaluate," "believe," "calculate," "may," "intend," "evaluate" 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 ordain attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are affect to a number of risks and uncertainties. These consider but are not limited to risks and uncertainties associated with: the impact of economic competitive and other factors affecting the affiliate 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.
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