By Ian Gilson, PhD, CFA
The company has a announced that New Global Energy (OTC BB:NGEY) will use OriginOil's (OOIL) proprietary water cleaning and algae production process to clean and revitalize shuttered fish farms in Southern California's Coachella Valley. The valley encompasses the areas along the I10 Interstate from Palm Springs, through Indio and to Coachella.
The large number of farm closures in 2007 and 2008, due to the high costs of energy and food, had a significant impact of aquaculture in California. The use of OriginOil's Electro Water Separation (EWS) technology will enable New Global Energy to clean and sanitize fish pond water and reduce the need for expensive filtration ponds. Algae can be grown in the fish ponds, feeding the fish with a low cost food pellets and the clean water will obviate the need for large quantities of antibiotics.
New Global Energy will acquire and restart closed aquaculture operations. Also, Aqua Farming Tech, the site of the successful field demonstration, will use EWS on two sites spanning 120 acres to reduce fresh water consumption.
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