Click here to close now.

SYS-CON MEDIA Authors: Liz McMillan, Elizabeth White, Dana Gardner, tru welu, Blue Box Blog

News Feed Item

OriginOil’s Second Licensing Agreement Targets Canadian Oil Sands Market

OriginOil, Inc. (OTC/BB: OOIL), the developer of a breakthrough energy production process for harvesting algae and cleaning up oil & gas water, announced today that its second original equipment manufacturer’s (OEM) agreement will target oil service companies in the Canadian oil sands market.

Privately-held investor group LH Opportunity Group plans to work with Calgary-based specialty fabricator Ensteel Industries to design an end to end system, featuring OriginOil’s technology, for potential applications in the enhanced oil recovery and tailing pond water treatment markets.

LH was an early private investor in Athabasca Oil Corporation (TSX: ATH); while over its 40-year history, Ensteel has completed projects for companies like Propak Systems and Plains Fabrication that supply industry leaders in the Canadian oil and gas sector.

Bill Ross, President of LH Opportunity Group, stated, “We are very excited to take the lead in the Canadian market with OriginOil’s breakthrough technology, CLEAN-FRAC. Through Ensteel we believe we are very well equipped to begin manufacturing CLEAN-FRAC units in the very near term. We believe the opportunity in Canada is huge and our oil and gas community of decision makers is small and tight.”

Under the terms of the OEM agreement, OriginOil has granted a non-exclusive license to LH Opportunity Group to bundle OriginOil’s high-speed and chemical-free CLEAN-FRAC technology with systems that LH and Ensteel plan to develop. OriginOil will receive royalty payments based on a percentage of system sales revenue.

“Major oil sands producers in the region are expected to commit hundreds of millions of new dollars to water management and tailing pond treatment over the next few years,” said Riggs Eckelberry, OriginOil CEO. “Based on its track record, we have concluded that LH is an aggressive early adopter that is expected to quickly attack this new opportunity. We welcome LH and its partner Ensteel to our growing family of OEMs.”

OriginOil’s CLEAN-FRAC™ process is based on the company’s Solids Out of Solution™ technology that efficiently removes oils, suspended solids, insoluble organics and bacteria from produced or ‘frac flowback’ water, on a continuous flow basis and without the use of chemicals.

According to the US Bureau of Land Management, oil sand deposits are complex mixtures of sand, clays, water and bitumen, a “heavy” or highly viscous oil. The Alberta Geological Survey states that it takes from 2.5 to 4 barrels of water to produce one barrel of bitumen, and reclamation of mining sites must be done to a standard to at least the equivalent of their previous biological productivity.

A study previously issued by the University of Toronto and the University of Alberta suggested that “the choke point for the province's oil sands expansion may not be the huge carbon dioxide emissions arising from mining and processing the sticky, bitumen containing tar sands, as is widely assumed, but a lack of water.” (The Globe and Mail: Choke point for oil sands may be water shortage.)

Tweet this: OriginOil’s Second Licensing Agreement Targets Canadian Oil Sands Market http://www.originoil.com/?p=8925

Follow us on Twitter

Like us on Facebook

Signup for our Newsletter

About OriginOil, Inc. (www.originoil.com)

OriginOil has developed an energy production process for harvesting algae and cleaning up oil & gas water. Operating at the first stage of extraction, this high-speed and chemical-free process can be embedded in other systems to improve performance. Originally invented to solve the biggest problem in algae production, it is now finding demand in oil and gas fracking and production water cleanup, an immediate and fast-growing market that desperately needs clean technology solutions. To learn more about OriginOil®, please visit our website at www.originoil.com.

Safe Harbor Statement:

Matters discussed in this update contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this update, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with our history of losses and our need to raise additional financing, the acceptance of our products and technology in the marketplace, our ability to demonstrate the commercial viability of our products and technology and our need to increase the size of our organization. Further information on the Company's risk factors is contained in the Company's quarterly and annual reports as filed with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

Abstract

OriginOil’s second licensing agreement targets Canadian oil sands market; Alberta-based investor group to build and sell complete systems to oil service companies working on oil and water recovery

Key Words

originoil, originoil inc, ooil, origin oil, oil & gas technology, oil & gas cleanup, frac water cleanup, solids out of solution, clean-frac, algae appliance, Riggs Eckelberry, frac cleanup, hydraulic fracturing cleanup, produced water cleanup, invest algae, invest oil & gas, new oil, algae oil, renewable oil, algae biofuel, chemical free process algae, algae commercialization, algae harvesting, renewable crude oil, algae extraction, oil and gas extraction, LH Opportunity Group, Ensteel, CLEAN-FRAC,Canadian Oil Sands

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
As enterprises engage with Big Data technologies to develop applications needed to meet operational demands, new computation fabrics are continually being introduced. To leverage these new innovations, organizations are sacrificing market opportunities to gain expertise in learning new systems. In his session at Big Data Expo, Supreet Oberoi, Vice President of Field Engineering at Concurrent, Inc., discussed how to leverage existing infrastructure and investments and future-proof them against e...
The consumption economy is here and so are cloud applications and solutions that offer more than subscription and flat fee models and at the same time are available on a pure consumption model, which not only reduces IT spend but also lowers infrastructure costs, and offers ease of use and availability. In their session at 15th Cloud Expo, Ermanno Bonifazi, CEO & Founder of Solgenia, and Ian Khan, Global Strategic Positioning & Brand Manager at Solgenia, discussed this shifting dynamic with an ...
Due of the rise of Hadoop, many enterprises are now deploying their first small clusters of 10 to 20 servers. At this small scale, the complexity of operating the cluster looks and feels like general data center servers. It is not until the clusters scale, as they inevitably do, when the pain caused by the exponential complexity becomes apparent. We've seen this problem occur time and time again. In his session at Big Data Expo, Greg Bruno, Vice President of Engineering and co-founder of StackI...
Once the decision has been made to move part or all of a workload to the cloud, a methodology for selecting that workload needs to be established. How do you move to the cloud? What does the discovery, assessment and planning look like? What workloads make sense? Which cloud model makes sense for each workload? What are the considerations for how to select the right cloud model? And how does that fit in with the overall IT transformation?
The recent trends like cloud computing, social, mobile and Internet of Things are forcing enterprises to modernize in order to compete in the competitive globalized markets. However, enterprises are approaching newer technologies with a more silo-ed way, gaining only sub optimal benefits. The Modern Enterprise model is presented as a newer way to think of enterprise IT, which takes a more holistic approach to embracing modern technologies.
For better or worse, DevOps has gone mainstream. All doubt was removed when IBM and HP threw up their respective DevOps microsites. Where are we on the hype cycle? It's hard to say for sure but there's a feeling we're heading for the "Peak of Inflated Expectations." What does this mean for the enterprise? Should they avoid DevOps? Definitely not. Should they be cautious though? Absolutely. The truth is that DevOps and the enterprise are at best strange bedfellows. The movement has its roots in t...
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impac...
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. 8th International Big Data Expo, co-located with 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. As advanced data storage, access and analytics technologies aimed at handling high-volume and/or fast moving data all move center stage, aided by the cloud computing bo...
Every day we read jaw-dropping stats on the explosion of data. We allocate significant resources to harness and better understand it. We build businesses around it. But we’ve only just begun. For big payoffs in Big Data, CIOs are turning to cognitive computing. Cognitive computing’s ability to securely extract insights, understand natural language, and get smarter each time it’s used is the next, logical step for Big Data.
Enterprises are fast realizing the importance of integrating SaaS/Cloud applications, API and on-premises data and processes, to unleash hidden value. This webinar explores how managers can use a Microservice-centric approach to aggressively tackle the unexpected new integration challenges posed by proliferation of cloud, mobile, social and big data projects. Industry analyst and SOA expert Jason Bloomberg will strip away the hype from microservices, and clearly identify their advantages and d...
There's no doubt that the Internet of Things is driving the next wave of innovation. Google has spent billions over the past few months vacuuming up companies that specialize in smart appliances and machine learning. Already, Philips light bulbs, Audi automobiles, and Samsung washers and dryers can communicate with and be controlled from mobile devices. To take advantage of the opportunities the Internet of Things brings to your business, you'll want to start preparing now.
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
In a world of ever-accelerating business cycles and fast-changing client expectations, the cloud increasingly serves as a growth engine and a path to new business models. Dynamic clouds enable businesses to continuously reinvent themselves, adapting their business processes, their service and software delivery and their operations to achieve speed-to-market and quick response to customer feedback. As the cloud evolves, the industry has multiple competing cloud technologies, offering on-premises ...
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the...
The OpenStack cloud operating system includes Trove, a database abstraction layer. Rather than applications connecting directly to a specific type of database, they connect to Trove, which in turn connects to one or more specific databases. One target database is Postgres Plus Cloud Database, which includes its own RESTful API. Trove was originally developed around MySQL, whose interfaces are significantly less complicated than those of the Postgres cloud database. In his session at 16th Cloud...