HOUSTON, June 13, 2012 /PRNewswire/ -- Algae Farm (USA), Inc. (Pink Sheets: ALGF), announces that it has received an office action from the United States Patent and Trademark Office ("USPTO") requesting an election of claims. ALGF filed a non-provisional utility application, "Device and Method for Production of Algae," on August 30, 2010. The application has been in review status since the initial filing date. ALGF's IP (Intellectual Property) counsel was contacted by the USPTO on June 1, 2012 and provided an option to elect to split the originally applied-for patent into two separate patents. ALGF has elected to pursue its process claims on the initial filing and will pursue a divisional application for its mechanical apparatus claims.
"Specifically, the Company will now have two separate patent applications, one for its industry-unique process to grow algae indoors, and the other for its mechanical apparatus. As a result of these actions, our expectation is to be awarded two patents instead of one. The average time to be granted a patent from the USPTO on a filing such as ours is roughly three years. We are very optimistic that we will now receive two patents instead of the single patent originally applied for; owning the two separate patents will add to our portfolio of immediately marketable intellectual property and dramatically enhance our ability to commercialize our technology and attract viable, strategic alliances and partnerships in the cosmetics, nutraceutical, bio-plastic and bio-fuel market sectors. By separating our applied-for patent into two, we will further ensure that both our methodological process and our unique mechanical production equipment used to produce our product remain exclusive to ALGF. Therefore, we will enjoy a significant market advantage over any competitors utilizing traditional outdoor production methods," said Rick Berman, President and CEO.
About Algae Farm (USA)
ALGF is a development stage biotechnology developer of processes and systems that produce high yield, predictable, reliable, scalable and sustainable algal biomass, algae oil and residual biomass and in an indoor climate controlled environment. The Company's website is www.algaefarm.org, the contents of which are not incorporated by reference herein.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations, are generally identifiable by the use of words such as "believe," "expect," "intend," "anticipate," "estimate," "project," or similar expressions. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, potential future performance, perceived opportunities in the market, and statements regarding the Company's mission and vision. The Company and all affiliated parties do not assume any duty to publicly update or revise the material contained herein.
Contact: Rick Berman
e-mail: [email protected]
SOURCE Algae Farm (USA), Inc.