MBD Energy increases order from OriginOil to $1M for algae technologies

August 15, 2011 |

In California, OriginOil, Inc. (OOILD.OB) said that it recently received an increased order for a large-scale algae extraction system from MBD Energy, Ltd.; total value of the purchase order is $850,000, of which $297,500, or 35%, was paid on August 5, 2011.

In January of this year, OriginOil received an order from MBD totaling $150,000 for a mobile system. At the time, OriginOil received a deposit of 50%, with future payments of 25% respectively for notification of availability, and completion of installation. The equipment is expected to process up to 1100 liters (300 gallons) per minute of algae culture continuously, enough to process the daily harvest at MBD’s upcoming one-hectare site at Queensland’s Tarong power station.

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Category: Fuels

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