OriginOil to sell patent applications to Ennesys

OriginOil has agreed to sell three of its early patent applications to its French joint venture partner, Ennesys.

The patent applications are for quantum fracturing, optimising photosynthesis in a photo bioreactor (the helix bioreactor) and the hydrogen harvester.

Ennesys has agreed to repay OriginOil’s research and development (R&D) costs apart from an ongoing licensing fee on revenue from the patents.

Ennesys CEO Pierre Tauzinat said that OriginOil has already provided the company with technology for sanitising sewage water and harvesting algae.

"Now with access to key inventions, we are well positioned to create a seamless technology platform and receive major funding from public and private parties," Tauzinat added.

OriginOil said that it has the opportunity to benefit from the commercialisation of the patents as a direct shareholder of Ennesys.

OriginOil CEO Riggs Eckelberry said that the agreement has the potential to increase future stakeholder interest and value through future royalties and reimbursement of R&D costs.

"We’re delighted that Ennesys will be able to capitalise on our early inventions, which are no longer a core element of OriginOil’s intellectual property portfolio," Eckelberry added.

OriginOil has developed a water cleanup technology for the oil and gas, algae and other water-intensive industries. The company’s patent-pending Electro Water Separation process removes organic material from large quantities of water without the need for chemicals.