Algal biofuel company OriginOil, Inc (OOIL) has announced that it recently got into a strategic partnership agreement with MBD Energy Limited. MBD will be OOIL’s first customer and works in the field of CO2 Bio-Capture using algae.
"We are excited to collaborate with OOIL on our joint quest to commercialise industrial-scale algae production," said Andrew Lawson, MBD Energy's managing director. "We look forward to working very closely on large-scale algae systems to absorb the CO2 from coal-fired power plants and other major greenhouse-gas emitters."
MBD is considered an international leader in the use of captured flue-gases as feedstock to generate algal biomass. Anglo American, a top global mining company, is a cornerstone investor.
MBD became Los Angeles-based OriginOil's first customer for a research-scale system earlier this year and, based on the success of this phase, MBD will buy progressively bigger systems to serve its three major power station projects in Australia.
OriginOil and MBD both have recently agreed on a process to run these phases, to protect OriginOil's Intellectual Property and for the joint integration of multiple technologies. OriginOil will market any jointly-developed systems of this kind internationally.
MBD will have up to two years of Australian exclusivity for any product it acquires from OriginOil.
"They will help us improve our own products in the field while assigning all such improvements to us, and we will also develop integrated systems together," said Riggs Eckelberry, OriginOil CEO. “We welcome Australia’s MBD Energy as our first geographical partner and look forward to many years of mutual growth in the fast-moving field of CO2 capture using algae.”
According to OriginOil, much of the planet’s oil and gas is made up of ancient algae deposits, and the company’s technology will generate "new oil" from algae via a cost-effective, high-speed manufacturing process. This allegedly “endless” supply of new oil can be used for diesel, gasoline, jet fuel, plastics, solvents and more.
Australian-based MBD is a public technology company. It has a joint research and development plant at James Cook University (JCU) in Queensland, and MBD Energy and its JCU team are internationally renowned as leaders in the use of captured flue-gases as feedstock to produce algal biomass for Bio-CCS.
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