Los Angeles, CA (PRWEB) September 18, 2007
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 biofuel refinery developer, Jay Dubinsky, has joined its board of advisors.
Jay Dubinsky has more than 10 years of experience financing and building out renewable energy companies. Since 2005, Dubinsky has served as the founder and director of M2 Baltic Investment Trust, SIA, a European based global financier and incubator of renewable energy companies in the solar, wind and biofuel space. M2 Baltic is completing the financing of refineries in Latvia and in Micronesia that are able to produce between 30 and 60 million gallons of algal biodiesel per year at each location.
Dubinsky commented, "We know that algae has the potential to be the only feedstock that can replace petroleum. However, current technologies and processes are not efficient enough. We are very excited about OriginOil's patent-pending bioreactor technology and manufacturing process for algae growth and oil extraction. We want to be the first to help prove its potential as soon as possible."
Riggs Eckelberry, the company's chief executive officer, said, "when they come on line, Jay's algae production and refining facilities will offer us an immediate opportunity to apply our breakthrough technology in the field. We are excited to be working with him on building the supply chain for the most promising source of renewable oil."
Prior to founding M2 Baltic, Dubinsky started several companies including Eco-Tek, Inc., an incubator for renewable energy technology companies. With over 30 years of experience in industrial construction projects he has successfully developed alternative energy plants on a large scale. Dubinsky received a Bachelor of Science degree in Biology from the University of California at Irvine in 1984.
About OriginOil, Inc.
OriginOil™, Inc. is developing a breakthrough technology that will transform algae, the most promising source of renewable oil, into a true competitor to petroleum. Much of the world's oil and gas is made up of ancient algae deposits. Today, our technology will produce "new oil" from algae, through a cost-effective, high-speed manufacturing process. This endless supply of new oil can be used for many products such as diesel, gasoline, jet fuel, plastics and solvents without the global warming effects of petroleum. Other oil producing feedstock such as corn and sugarcane often destroy vital farmlands and rainforests, disrupt global food supplies and create new environmental problems. Our unique technology, based on algae, is targeted at fundamentally changing our source of oil without disrupting the environment or food supplies. To learn more about the Company, please visit our website at http://www.originoil.com.
Safe Harbor Statement:
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