WESTMINSTER, CA / ACCESSWIRE / June 29, 2021 / BioLargo, Inc. (OTCQB:BLGO), a developer of sustainable technologies and full-service environmental engineering company, announced that its engineering subsidiary has recently been notified of several new contract awards. These recent wins are expected to increase the company's operating cash flow, which will support its plans for top-line revenue growth and its efforts to commercialize a number of BioLargo's patented environmental technologies.
These new contract wins are for work with 1) a resin manufacturing facility, 2) a dairy farm, 3) a new project at Picatinny Arsenal, one of the company's long-time customers, 4) a potato processing plant, and 5) a US Air Force base, adding to the other seven bases already served by the company. Together, the new contracts are worth more than $1.2 million in revenue, most of which will be earned over the next six months.
Dennis P. Calvert, President and CEO of BioLargo commented, "We believe these recent contract wins are evidence that our engineering subsidiary is on a trajectory toward aggressive growth, both in revenues and capacity. More cash flow means they can bring on new talent and expand their reach and credibility in the market as a reliable solutions provider for pressing environmental challenges, and empowers them to commercialize our patented innovations, including our water treatment technologies."
BioLargo Engineering, Sciences and Technologies, LLC (BLEST), was created to support three critical business initiatives:
- Scaling up and commercializing BioLargo's innovative environmental technologies like its Advanced Oxidation System (AOS) energy-efficient water treatment technology, currently preparing for commercial trials.
- Building a customer-focused business that delivers trusted expert advice and practical engineering solutions to tackle some of the toughest environmental challenges.
- Continuing the company's rich history of innovation. BLEST has already developed a potentially market-disruptive water treatment technology for per- and polyfluoroalkyl substances, or PFAS (read more at our blog: https://bit.ly/3jmIyWN), as well as an industrial waste mineral extraction technology. Both of these opportunities are in the final stages of preparing for commercial launch.
Mr. Calvert finished by saying, "These contract wins are a testament to our engineers' technical skill and reputation as trusted project integrators. These two aspects are what will drive our patented, high-value innovations into the market."
About BioLargo, Inc.
BioLargo, Inc. (OTCQB:BLGO) invents, develops, and commercializes innovative platform technologies to solve challenging environmental problems like PFAS contamination, advanced water and wastewater treatment, industrial odor and VOC control, air quality control, and infection control. With over 13 years of extensive R&D, BioLargo holds a wide array of issued patents, maintains a robust pipeline of products, and provides full-service environmental engineering. Our peer-reviewed scientific approach allows us to invent or acquire novel technologies and develop them to maturity through our operating subsidiaries. With a keen emphasis on collaborations with academic, municipal, and commercial organizations and associations, BioLargo has proven itself with over 80 awarded grants and numerous pilot projects. We monetize through direct sales, recurring service contracts, licensing agreements, strategic joint venture formation and/or the sale of the IP. Several of our technologies are commercially available and are advancing as disrupters in their respective markets. See our website at www.BioLargo.com.
Dennis P. Calvert
President and CEO, BioLargo, Inc.
Safe Harbor Act
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about BioLargo's (the "Company") expectations regarding the impact of the COVID-19 pandemic; anticipated revenue; and plans for future operations. These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: the effect of the COVID-19 pandemic on the Company's business, results of operations, financial condition, and stock price; the effect of regional economic conditions on the Company's business, including effects on purchasing decisions by consumers and businesses; the ability of the Company to compete in markets that are highly competitive and subject to rapid technological change; the ability of the Company to manage frequent introductions and transitions of products and services, including delivering to the marketplace, and stimulating customer demand for, new products, services, and technological innovations on a timely basis; the dependency of the Company on the performance of distributors of the Company's products. More information on these risks and other potential factors that could affect the Company's business and financial results is included in the Company's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
SOURCE: BioLargo, Inc.