OriginOil Generates Revenue

OriginOil is ready to ship the first part of its manufacturing system – technology that extracts renewable oil from algae – to Australia-based MBD Energy, triggering payment under the two companies’ contract.

OriginOil notified MBD Energy that it is ready to ship a Quantum Fracturing System, designed to maximize algae CO2 absorption with minimal energy, to MBD Energy’s R&Dt facility at James Cook University in Queensland, Australia. The company’s Single-Step Extraction System, designed to efficiently separate algae oil from its biomass, will be the next deliverable and will trigger another payment under the purchase order.

“This is a major milestone for OriginOil and represents our first revenue event,” said Riggs Eckelberry, CEO.

The companies signed an agreement last May that stipulated that OriginOil would supply MBD Energy with its algae-to-oil technology platform in progressively larger installations. If the test phase works, MBD will purchase larger systems to serve its power station projects in Australia, beginning with a one-hectare pilot plant at Tarong Power Station in South Eastern Queensland, and expanding to full production sites at all three of MBD’s power station projects in Australia.

According to MBD Energy, each of its power station projects has the potential to grow to 80-hectare commercial plants, each capable of producing 11 million liters of oil for plastics and transport fuel annually. MBD Energy estimates that the projects will eventually consume more than half of each power station’s emissions.

OriginOil’s Quantum Fracturing System breaks down nutrients such as CO2 into micro-particles that stay suspended in water longer, allowing algae to feed more efficiently. The Single-Step Extraction system is the first commercial “wet” extraction system, able to separate algae oil from its biomass without dewatering operations.

 

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Jennifer Runyon
Jennifer Runyon has been studying and reporting about the world's transition to clean energy since 2007. As editor of the world's largest renewable energy publication, Renewable Energy World, she observed, interviewed experts about, and reported on major clean energy milestones including Germany's explosive growth of solar PV, the formation and development of the U.S. onshore wind industry, the U.K. offshore wind boom, China's solar manufacturing dominance, the rise of energy storage, the changing landscape for utilities and grid operators and much, much, more. You can reach her at Jennifer.Runyon@ClarionEvents.com Today, in addition to managing content on Renewable Energy World and POWERGRID International, she also serves as the conference advisory committee chair for DISTRIBUTECH, a globally recognized conference and expo for the transmission and distribution industry. In her role, she works in close cooperation with a large team of committed industry executives to shape the educational content for the event. She also helps assemble the renewable energy content for POWERGEN and helped launch the first Grid-Scale Storage Summit, a co-located event at HYDROVISION International. She has traveled to Germany to see onshore and offshore wind installations; Iceland to see geothermal energy in action; and France to see cutting-edge smart grids. In the U.S. she has visited and reported about bioenergy power plants in Florida, both large-scale and small-scale hydropower; and multiple wind farms, solar PV, and CSP installations. Formerly, she was the managing editor of Innovate Forum, an online publication that focused on innovation in manufacturing. Prior to that she was the managing editor at Desktop Engineering magazine. In 2008, she won an "Eddy Award" for her editing work on an article about solar trees in Vienna. In 2010, RenewableEnergyWorld.com was awarded an American Business Media Neal Award for its eNewsletters, which were created under her direction. She holds a Master's Degree in English Education from Boston University and a BA in English from the University of Virginia.

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