For a direct link to the article, by Tamarack Advisors, go here.
After a decade of diligent R&D effort supported
by a loyal base of investors, BioLargo, Inc. (OTCQB: BLGO) has built an expansive
suite of intellectual property for disruptive technologies focused on clean
water, clean air and advanced wound care. Its AOS (Advanced Oxidation System)
is billed as the high performance and low cost water treatment option for rapid
water disinfection and concurrent decontamination, representing a technical
leap forward in advanced water treatment. Just one week ago we covered their
third annual technical symposium for the AOS, where results of commercial
validation studies done with three
separate wastewaters in collaboration with a leading
water-engineering firm confirmed not only the commercial viability of the AOS,
but also its superior technical and economic performance metrics.
Only a week later, BioLargo made a surprise press release announcing
the hiring of a world-class engineering team and the formation of a new services
division called BioLargo
Engineering, Science & Technologies, LLC.
The
new subsidiary will be headquartered in the Knoxville, Tennessee area and its
team will be led by Mr. Randall P. Moore, an executive-level engineer with more
than 30 years of industrial and commercial experience, most recently as Manager
of Operations for Consulting and Engineering for the Knoxville, Tennessee
office of Chicago Bridge & Iron (CB&I) Environmental &
Infrastructure, Inc. Mr. Moore has worked with the
newly recruited team at BioLargo Engineering Science & Technologies for the
past 10 plus years while at CB&I. Mr. Moore commented, “BioLargo’s various
technologies have an important and significant commercial opportunity to serve
clients around the world. Our entire team is excited to be part of such an
innovative and purposeful company as BioLargo.”
BioLargo’s
new engineering team has more than 200+ combined years of industry experience,
and will immediately pursue business opportunities to provide engineering
services around the world, supported by BioLargo’s new Director of Business
Development Dr. Shan Yong. A list of BioLargo Engineering’s offered services
can be found on their website. Equally important, the new
BioLargo Engineering team provides a valuable bridge to new client
relationships for BioLargo.
The question on everyone’s mind:
what does this new subsidiary mean for BioLargo’s flagship technology, the AOS?
From
all accounts, the new team has the technical experience and know-how to
scale-up and engineer the AOS to meet the needs of industrial end-users. Importantly,
having this talent in-house rather than outsourcing it means that BioLargo will
have increased freedom to expand its intellectual property. BioLargo now has
access to robust engineering and design capabilities, and considering the depth
of talent at BioLargo Engineering, Science & Technologies, LLC, BioLargo
will likely have new opportunities reaching beyond their current technical
assets.
To
help provide growth capital to the Company and assist in the new venture,
BioLargo has entered into a common stock purchase agreement with Lincoln Park
Capital for up to $10 million of equity capital, priced at the market, and subject
to certain terms and conditions as described in the company’s 8-k. According to the
terms of the purchase agreement, and subject to a registration statement being
filed and declared effective by the Securities and Exchange Commission,
BioLargo will have the sole discretion to sell common stock to LPC over a
36-month period at times that are controlled by BioLargo and in amounts as
described in the purchase agreement. No warrants, derivatives, financial or
business covenants are associated with the agreement and LPC will not cause or
engage in any manner whatsoever, any direct or indirect short selling or
hedging in BioLargo’s common stock.
BioLargo’s
president, Dennis P. Calvert, commented, “With our proven high impact, low cost
AOS Water treatment system, and with over 200 combined years of commercial
engineering experience serving a wide range of industrial clients, combined
with funding from Lincoln Park Capital, we are well positioned to serve a wide
range of clients with environmental engineering services as well propel our AOS
technologies from the lab to commercial clients.”
No comments:
Post a Comment