OriginOil and Department of Energy to Develop Direct Conversion of Algae into Renewable Crude Oil for Existing Oil Refineries
Company partners with Idaho National Laboratory to enable algae growers to enter the global crude oil market
OriginOil, Inc., the developer of a breakthrough technology to extract oil from algae and an emerging leader in the global algae oil services industry, today announced its plans to co-develop an integrated system with the U.S. Department of Energy’s Idaho National Laboratory (INL) for direct conversion of raw algae into a renewable crude oil that can be used by existing petroleum refineries.
“We believe this is a major breakthrough for OriginOil and a major step forward for the algae industry,” said Riggs Eckelberry, OriginOil CEO. “We already lead the industry with our chemical-free, low-energy, continuous high-flow harvesting system.