Los Angeles-based algal oil company OriginOil files for IPO of up to US$23M

LOS ANGELES , October 21, 2011 () – Los Angeles-based OriginOil has filed for an initial public offering of up to US$23 million with the U.S. Securities and Exchange Commission, StreetInsider.com reported Oct. 20.

The offering is being made through Aegis Capital, and OriginOil plans to list on Nasdaq.

According to the company's website, OriginOil helps algae growers extract oil from algae for commercial fuels, chemicals and foods. The company's technology dewaters and breaks down algae for use in products.

The primary source of this article is StreetInsider.com, Birmingham, Michigan, on Oct. 20, 2011.

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