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The ozone generator was patented by Nicola Tesla in 1896.
Nicola Tesla was a contemporary of Thomas Edison. Nicola Tesler began marketing Ozonated Olive Oil to medical doctors. He chose Olive Oil because of it's availabilty and high burn factor, not for any particular healing properties of Olive Oil.

Nicola Tesler was a world famous electrical genius, visionary and mystic with over 300 patents, including AC and wireless communication, ionized gases, cold plasma, and ozone generation for oxyen therapy. Nicola Tesla started the Tesla Ozone Company and sold to Naturopaths, Allopaths and Doctors, ozonated oils of various types.

Cold Pressed Ozonated Olive Oil is a made of cold pressed extra virgin olive oil from Tuscany.  Cold Pressed Ozonated Olive Oil have been sought after for it's benefits for many skin conditions.

Embodies and intensifies the benefits of regular Cold Pressed Extra Virgin Olive Oil.
Antibacterial and anti-viral
Diaper rash and other rashes
Its thicker form allows you to apply it without running or dripping like regular Olive Oil.
Is conentrated using the powerfully healing ozonation process.
Allows a little to go a long way (less is needed)
Allows the healing properties of Olive Oil and Oxygen molecules combined to accelerate the healing process.
Has become known as a major component in the fight against Lyme Disease and co-infections when blended with Ozonated Castor Oil.
Benefical in the treatment of fungal infections including Athlete's Foot
Skin conditions such as Eczema, dermatitis,acne, rashes, other chronic skin conditions. 
Ozonated Olive Oil has been regarded to have been beneficial in the treatment of: Fistula
Leg ulcers
Bed sores
Bee stings
Insect bites
Topical Yeast Infections
Acne, ringworm, and other skin problems
Scalp infections
Herpes simplex
Tinea versicolor (chronic fungal skin infection, caused by a yeast type skin fungus)

Ozonated Olive Oil is similar to ozonated castor oil.  We think that Edgar Cayce Ozonated Castor Oil is similar to but has more healing properties than Ozonated Olive Oil. Ozonated Olive oil is more popular because it is more well known.  
Ozonated Castor Oil is well regarded in Europe as it has the extra benefit of the legendary effectiveness of Castor Oil.
Our Hand crafted Cold Pressed Ozonated Olive Oil is an zonated Oil mad made in small batches in the USA to assure quality.