LOS ANGELES & PARIS--(BUSINESS WIRE)--
OriginOil, Inc. (OTC/BB: OOIL), developer of a breakthrough technology to convert algae into renewable crude oil, today received a firm order from its French joint venture partner Ennesys to supply OriginOil’s Algae Appliance™ harvester and other components for a test of urban algae production. Located in the iconic La Défense complex near Paris, the program aims to show that algae production can be integrated into large building complexes.
“This is a clear sign that algae is being seriously evaluated to help improve the eco-footprint of massive commercial developments,” said Riggs Eckelberry, OriginOil’s CEO. “This order marks another sale and revenue generation from our commercialized algae systems. And we’re delighted to have a high-profile showcase for our technologies in Europe.”
The Ennesys demonstration is designed to test the suitability of algae production in helping large commercial buildings achieve a positive energy balance and natural water management, as envisioned by France’s RT 2020 sustainable energy framework. Partial funding is anticipated from regional government entities.
“Our government is serious about minimizing the environmental impact of the massive developments now being planned for the Paris regional area,” said Pierre Tauzinat, CEO of Ennesys. “We intend to show that algae production can be safely and productively integrated into urban settings.”
At 40% of total consumption, buildings are Europe’s greatest source of energy demand. France has taken the ambitious step of mandating that by 2020, all new buildings must generate more clean energy than they consume, and must purify and recycle water naturally.
These regulations are seen as a major market opportunity for algae. In addition to being a source of clean energy and water management, algae absorbs large amounts of CO2, creating a carbon neutral fuel that eliminates equivalent amounts of emissions from fossil fuels.