Westminster, CA – May 16, 2018 – BioLargo, Inc. (OTCQB: BLGO), an innovator of sustainable science and technology and full-service environmental engineering company, announced that on May 14, 2018, it had filed its 10-Q quarterly report. Highlights from the quarterly report, found on the SEC’s website here, include:
Revenue from product sales for the three months ended March 31, 2018 increased by over 400% compared with the three months ended March 31, 2017, to approximately $225,000;
Revenue from product sales continues to increase after the end of the 1st quarter, reaching nearly $200,000 midway into the 2nd quarter; and
Average monthly revenue has increased from approximately $25,000 the first half of 2017, to almost $60,000 the second half of 2017, to approximately $95,000 per month thus far in 2018.
The company’s commercial prospects are further discussed in the Form 10-Q, as summarized here:
A significant increase in sales to the U.S. Military of our Specimen Transport Solidifiers;
Recent approval as supplier for 100% of the regional locations of one of our large national waste management accounts;
In excess of $300,000 of bids submitted for design/construct/install of service equipment and systems to expand the use of CupriDyne Clean in client operations; and
Hiring of additional sales and account management staff to capitalize on momentum.
BioLargo Engineering, Science & Technologies (BLEST):
BLEST has been retained as “Owner’s Engineer” for a proposed $687M integrated biofuels production project on the east coast;
BLEST has more than 40 client proposals outstanding, for projects such as Legionella mitigation, VOC and oil & gas by-product control, and wastewater management, most significantly as a preferred supplier to a top oil & gas company to solve produced water clean up challenges at one of their facilities (if awarded, the contract is estimated to be worth $1.3M in revenue);
While we face delay in our first application for pre-market clearance filed with the FDA under Section 510(k), we have concluded design on a second product and are finalizing its 510(k) application;
While we remain confident that we will ultimately receive premarket clearance for our products, we can make no assurance or prediction as to success of Clyra’s efforts, and must wait patiently for the process with the FDA to conclude.
Advanced Oxidation System (AOS):
$235,000 Canadian grant awarded from the Canadian Government to fund the first on-site AOS pilot project, in the poultry industry, planned for 2018, the purpose of which is to lay the foundation for commercialization of the AOS; and
The company has also submitted and are currently submitting applications for a series of substantial government grants (totaling more than $4M USD) to focus on specific targets in industry, like wastewater, food processing and oil and gas applications.
Dennis P. Calvert, President of BioLargo, commented, “We are highly focused on executing our plan to grow sales and infrastructure for Odor-No-More, excited to see our engineering division bidding on significant projects, remain patient with the FDA at Clyra, and are looking forward to our pilot project for the AOS in Canada.
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About BioLargo, Inc.
BioLargo, Inc. is an innovative technology incubator and environmental engineering company driven by a mission to “make life better” by delivering robust, sustainable solutions for a broad range of industries and applications, with a focus on clean water, clean air, and advanced wound care. We incubate disruptive technologies by providing the capital, support, and expertise to expedite them from “cradle” to “maturity” (www.biolargo.com). Our engineering division features experienced professional engineers dedicated to integrity, reliability, and environmental stewardship (www.biolargoengineering.com). Our industrial odor control division, Odor-No-More (www.odornomore.com) features CupriDyne Clean Industrial Odor Eliminator (www.cupridyne.com), which eliminates the odor-causing compounds and VOCs rather than masking them, and is now winning over leading companies in the solid waste handling and wastewater industries and other industries that contend with malodors and VOCs. Our subsidiary BioLargo Water (www.biolargowater.ca) develops the Advanced Oxidation System “AOS”, a disruptive industrial water treatment technology designed to eliminate waterborne pathogens and recalcitrant contaminants with better energy-efficiency and lower operational costs than incumbent technologies. Our subsidiary Clyra Medical (www.clyramedical.com) features effective and gentle solutions for chronic infected wounds to promote infection control and regenerative tissue therapy.