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OriginOil To Ship Second Product To Australian Customer MBD Energy - Quick Facts

(RTTNews) - OriginOil, Inc. (OOIL.OB) announced Thursday that it notified its readiness to ship a Single-Step Extraction System to MBD Energy Limited. OriginOil said the move triggers a new series of payments as per purchase order from the Australia-based customer.

OriginOil noted that it would be the second product to be delivered in its multi-phase commercialization agreement. The commercialization program involves the supply of progressively larger installations of OriginOil's algae-to-oil technology as the scale of MBD's algal synthesizer projects grows.

Further to test-stage success, MBD is slated to purchase significantly larger systems to serve its power station projects in Australia, beginning with the 1 hectare algal synthesizer test plant at Tarong Power Station in South Eastern Queensland, and potentially expanding to full production at all three of MBD's power station project sites in Australia.

The technology of OriginOil brings substantial electrical and thermal energy savings.

OOIL.OB last traded at $0.15. Over the past year, the stock has traded in a range of $0.14 - $0.39.