(OriginOil)  Shipment of OriginOil Quantum Fracturing System to MBD Energy Triggers Payment

OriginOil, Inc., the developer of a breakthrough technology to transform algae, the most promising source of renewable oil, into a true competitor to petroleum, today announced that it recently notified MBD Energy Limited that it is ready to ship a Quantum Fracturing™ System, the first unit in a multi-phase commercialization program. The notification triggers a payment under a purchase order from the Australia-based customer.

“This is a major milestone for OriginOil and represents our first revenue event,” said Riggs Eckelberry, CEO. “We are excited to support MBD Energy, a leader in the global race to help coal-fired power plants absorb their massive CO2 emissions using algae.”

Recently, OriginOil notified MBD Energy that it is ready to ship a Quantum Fracturing System, designed to maximize algae CO2 absorption with minimal energy, to MBD Energy’s research and development facility at James Cook University in Queensland, Australia. The company’s Single-Step Extraction™ System, designed to efficiently separate algae oil from its biomass, will be the next deliverable and will trigger another payment under the purchase order.

In May, the parties agreed on a multi-phase commercialization program under which OriginOil will supply MBD Energy with its algae-to-oil technology platform in progressively larger installations. Subject to the success of the initial test phase, MBD will purchase significantly larger systems to serve its power station projects in Australia, beginning with a one-hectare pilot plant at Tarong Power Station in South Eastern Queensland, and expanding to full production sites at all three of MBD’s power station projects in Australia.

According to MBD Energy, each of its power station projects has the potential to grow to 80-hectare commercial plants, each capable of producing 11 million liters of oil for plastics and transport fuel, and 25,000 tonnes of drought‐proof animal feed annually.  MBD Energy estimates that the projects will eventually consume more than half of each power station’s flue-gas emissions.

OriginOil’s Quantum Fracturing System breaks down nutrients such as CO₂ into micro-particles that stay suspended in water longer, allowing algae to feed more efficiently. The Single-Step Extraction system is the first commercial “wet” extraction system, able to separate algae oil from its biomass without costly and energy-intensive dewatering operations.   READ MORE  and MORE   (update)