OriginOil, Inc., the developer of a breakthrough technology to transform algae, the most promising source of renewable oil, into a true competitor to petroleum, announced that its breakthrough technology was recognized in testimony provided before the Senate Subcommittee on Environment and Public Works on May 19, 2009.
During the session, which was entitled “Business Opportunities and Climate Policy,” Cynthia Warner, President of Sapphire Energy, commented on the many benefits of utilizing algae as the foundation for a new generation of renewable and low carbon transportation fuels. “Algae is one of nature’s most prolific and efficient photosynthetic organisms,” she explained. “Growing algae, and converting it into plastics, fuels, and or secondary feedstocks, could significantly help mitigate greenhouse gas emissions, reduce energy price shocks, reclaim wastewater, conserve fresh water (in some scenarios), lower food prices, reduce the transfer of U.S. wealth to other nations, and spur regional economic development.”
Her testimony also named OriginOil as one of the prominent algae-based fuel companies to develop “fascinating algae-based biological carbon capture and beneficial reuse applications.” She closed her testimony by highlighting the “transformative business opportunity that has been presented by climate policy, declaring that these companies can “produce a new generation of transportation fuels for the world that are low-carbon, produced right here in the United States, and that generate renewed economic growth and new green-collar jobs.”
“We are honored that Ms. Warner included us in her testimony and could not agree more that our government must embrace the use of algae in helping to create jobs and reduce our dependence on foreign petroleum,” said Riggs Eckelberry, CEO of OriginOil. “There is no doubt that algae is the future, and we are looking forward to what lies ahead for the industry upon receiving full government support for research and development efforts.”