BioLargo gains momentum with capital infusion and expanding grants, adding new talent- Letter to Shareholders
It is with great pleasure I write to share a few highlights of our recent advancements and the upcoming opportunities for BioLargo. The future for BioLargo is very bright and we find ourselves navigating inside what could be called a perfect storm for BioLargo!
The world knows that everyone must change the way we manage water. Extreme challenges such as widespread global pollution, prolonged drought, ever tightening regulatory pressures, continued industrial expansion, outcries for increased food safety and global population growth, all point to the urgent need for clean affordable water with sustainable technology solutions.
Our patent protected BioLargo AOS Filter is the lowest cost, highest impact, sustainable clean water technology known. It is capturing the attention of leaders in academia, governments, industry and investors. Our AOS Filter exemplifies a technical break-through in the way water can be cleaned and managed. We know it is only a matter of time for BioLargo to find its way to commercial success. How close are we?
Perhaps the best way to help answer that burning question is to highlight a few of our recent milestones.
Grants and financial awards to advance our AOS filter to commercialization to exceed $1,000,000 and counting. This financial support comes at a critical time as we continue building our science team at Agri-Food Discovery Place on campus at the University of Alberta.
Our science team is gaining peer acceptance as evidenced by their recent attendance at the EUREKA ACQUEAU Conference in Paris France. EUREKA is a publicly funded, intergovernmental network of companies and funding agencies from over 40 countries across Europe and beyond. As a leading international water cluster, EUREKA’s goal is to promote transnational collaboration for developing innovative projects in water technologies.
We are organizing our first pilot in the poultry processing industry, working with a major poultry producer in Canada, and have been invited to apply for an industrial partnership grant to finance the pilot. We are developing a new design for the AOS with sufficient scale to tackle this challenge.
We just completed a $1,000,000 capital raise and restructured our short-term debt into long term and mandatorily convertible debt, which will convert to equity on its terms in the future. (Link to Form 8-K) These advancements continue to strengthen our balance sheet.
We continue to expand our professional staff, including the recent addition of Dr. Parastoo Pourrezaei, E.I.T., a professional researcher and engineer with substantial experience in the oil sands industry. Our CFO, Charles Dargan, has again agreed to extend his tenure with us, accepting no cash, only stock options, as compensation.
As a result of our technical symposium a month ago, we are engaged in discussions with a number of potential strategic partners for possible licenses and joint ventures.
We have developed three distinct iodine based platform technologies. Our award-winning Cupridyne based products continue to find their way to market through a series of organic growth initiatives. Our license of the Isan System to Clarion Water is progressing and we remain confident in its continued growth and financial contribution.
Invention continues at BioLargo. With the addition of such acclaimed technical staff, and ever-expanding technical resources, we are continuing to find new discoveries that add to our intellectual property estate and will create shareholder value well into the future.
We are building an exceptional company. We have successfully developed three high impact technologies that will make the world a better place to live. We continue to add top talent to an already extraordinary team. We have avoided catastrophic high risk financing structures so common for early stage companies like ours, and we have attracted a broad base of long-term loyal investors to continue advancing our technology and commercial future. We have consistently maintained a high mark for integrity in both science and business.
We believe that BioLargo, as a science company, is best compared to other biotech companies: we will achieve greatness as we accumulate critical mass to break through to commercial success. Given its proven technical claims, BioLargo is arguably ‘one to hold forever’. And, we certainly love what we do. Making clean water affordable for the world is worthy of our steadfast dedication. The opportunity to make a positive impact in our world and to prosper is a powerful combination, and our team has dedicated itself to the mission.
Life is not without risk, and I encourage all of you to read our SEC filings carefully, and the risk factors contained in our Annual Report (Form 10-K). Investors should note that one of the risks we face is the need to obtain even greater capital in order to finance the drive into commercialization.
Stay tuned to learn more about our advancements. We encourage you to reach out to us by email or phone if we can be of any assistance to you in any way.
Thank you for your support and, as always, Go BioLargo!
Dennis P. Calvert President & CEO BioLargo, Inc.
Safe Harbor StatementThe statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, the risks and uncertainties included in BioLargo’s current and future filings with the Securities and Exchange Commission, including those set forth in BioLargo’s Annual Report on Form 10-K for the year ended December 31, 2014.