OriginOil Partners with Aquaculture Producer to Study Impact of its Technology in Transforming $100 Billion Global Market
Initial testing indicates potential to reduce toxic ammonia levels by more than 99 percent and expand use of algae for fish food
LOS ANGELES & CARLISLE, Pa.--(BUSINESS WIRE)-- OriginOil, Inc. (OTC/BB: OOIL), the developer of a breakthrough energy production process for the oil and algae industries, announced today that its Solids Out of Solution™ (SOS) technology could help the aquaculture industry reduce toxin levels and adopt algae as fish feed on a wide scale. Building on its initial successful lab results, OriginOil has agreed to develop a cooperative partnership with WeFeedUs, a Carlisle, Pennsylvania-based aquaculture company, to test and validate OriginOil's proprietary water decontamination and algae harvesting technologies for aquaculture systems in the field.
OriginOil researchers used a lab-scale SOS system to process water with total ammonia content of approximately 30 parts per million (ppm), more than a dozen times the limit for optimal fish production. In the test, the process reduced this high ammonia content to less than 0.25 ppm in three minutes without the use of chemicals, or more than a 99% reduction.
Under the intended joint research initiative, OriginOil will provide WeFeedUs with the technology and expertise to control the amount of ammonia and bacteria in onsite production ponds and scale its algae production. Similarly, WeFeedUs will apply its deep expertise in sustainable aquaponics and long-standing relationships with local universities to certify the effectiveness of OriginOil's technologies in improving the profitability of aquaculture operations. The study is intended to determine the impact of the SOS sanitizing and algae harvesting technology in transforming the $100 billion global fish farming industry.
"Using OriginOil technology, WeFeedUs believes it may be able to accelerate aquaculture research and development and, ultimately, advance the commercialization of a proprietary Algal inclusion, high-protein, high-value, specialty fish feed," said Mike Andrus, Co-Founder and Principal of WeFeedUs. "It could also help remove excess ammonia, fertilizers and chemicals from water, reduce the use of antibiotics, and decrease mortality rates."
Andrus continued, "We are excited to be the first to test this technology outside the lab to improve both the natural health of an aquaculture production system and the quantity per volume ratio, while providing more access to algae as a fish food source."
"In 2010, the fast-growing global aquaculture industry farmed 60 million tons of fish with a market value of more than $119 billion," said Riggs Eckelberry, OriginOil CEO. "But heavy toxin levels limit growth and are unhealthy for the fish and the environment. We believe that we may be able to do something about that. We also believe that we may be able to help this industry adopt algae for feed on a much greater scale. It's one of many secondary licensing opportunities for OriginOil technologies outside the energy industry and we believe this is a potential game-changer for the global fish farming industry."
According to the Fisheries and Aquaculture Department of the Food and Agricultural Organization of the United Nations (FAO), nearly half of the fish food supply for humans already comes from aquaculture, and rapid depletion of ocean fishing grounds is driving this figure higher. The advantages of feeding algae to aquaculture species include increased growth and improved nutritional value in the fish due to the high content of Omega3s in many algae species.
"These dual benefits of OriginOil's SOS technology could have enormous financial implications for the global fish farming industry," said Jose Sanchez, general manager of OriginOil's algae division. "We are very excited to partner with WeFeedUs to further explore opportunities that can increase productivity and enable a more organic method of food production for aquaculture operations."
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About OriginOil, Inc.
OriginOil has developed an energy production process for harvesting algae and cleaning up oil & gas water. Operating at the first stage of extraction, this high-speed and chemical-free process can be embedded in other systems to improve performance. Originally invented to solve the biggest problem in algae production, it is now finding demand in oil and gas fracking and production water cleanup, an immediate and fast-growing market that desperately needs clean technology solutions. To learn more about OriginOil®, please visit our website at www.originoil.com.
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Matters discussed in this update contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this update, the words "anticipate," "believe," "estimate," "may," "intend," "expect" 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. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with our history of losses and our need to raise additional financing, the acceptance of our products and technology in the marketplace, our ability to demonstrate the commercial viability of our products and technology and our need to increase the size of our organization. Further information on the Company's risk factors is contained in the Company's quarterly and annual reports as filed with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
OriginOil partners with aquaculture producer to study impact of its technology in transforming $100 billion global market; initial testing indicates potential to reduce toxic ammonia levels by more than 99 percent and expand use of algae for fish food.
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