Westminster, CA – November 19, 2018 – BioLargo, Inc.
(OTCQB:BLGO), developer of sustainable science and technologies and a
full-service environmental engineering company, today announced that it had
passed an important milestone - $1,000,000 in annual revenues (year-to-date in 2018).
BioLargo president Dennis P. Calvert commented, “Sales of
our odor control products have doubled each of the last four years. A recent order
took us over the $1 million in sales mark for the year. Congratulations to Joe Provenzano
and his team.”
Odor-No-More, Inc. President Joseph Provenzano commented on
the milestone, “We are repeatedly told by our customers we have the best
odor-control product in the market. We are leveraging that momentum by becoming
a one-stop solution for industrial odor problems. We are focused on hiring additional
sales people and plan to continue expanding our revenues in 2019.”
The company also reported in its recently
filed 10-Q that its engineering subsidiary’s (BLEST) monthly
revenues exceeded expenses for the first time in October. It’s important to
note that while BLEST is growing its external services revenues, BioLargo also leans
heavily on this division for development of its AOS water treatment system,
support for the odor division, and implementation of AOS pilot projects.
BioLargo President and CEO Dennis Calvert said of the news,
“Our success this year is an example of how great technology-based products and
services can turn into disruptive commercial initiatives. We have only
scratched the surface for both Odor-No-More and BLEST as they are heading
toward profitability as stand-alone business units. Odor-No-More has evolved to
become a total solutions provider for its customers, leveraging its
considerable competitive advantages that make it a standout winner with a total
addressable market that exceeds $1.3 billion in the USA alone (FN1). We are
also excited about BioLargo Water and Clyra Medical Technologies, both of which
are preparing to go commercial with their disruptive and sustainable products
in 2019. While the costs of maintaining a public company also add to the
overall company break even mark, we believe that continued growth in revenues
for our two already commercial business units, Odor-No-More and BLEST, alone will
achieve a level of performance capable of funding our company’s entire
operating budget and more. They each broke monthly performance records in
October, with Odor-No-More generating gross revenues of $133,000, and BLEST
$89,000, for a combined total gross revenue of $222,000 (unaudited). While it
may be too early to say we are at the inflection point of hockey stick growth, which
we all know requires dedicated capital, we are preparing for another record-breaking
year ahead.”
About BioLargo, Inc.
BioLargo, Inc. is an innovative technology developer 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 develop and commercialize 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.
FN1 – Total addressable market assumes 100% market
penetration at the landfills, transfer stations, and wastewater treatment
plants located in the United States, and is based on average per-location revenue
assumptions management believes to be reasonable.
Contact Information
Dennis Calvert President and CEO BioLargo, Inc. 949-643-9540
x2
Safe Harbor Act
This press release includes “forward-looking statements”
within the meaning of the safe harbor provisions of the United States Private
Securities Litigation Reform Act of 1995. Actual results may differ from
expectations, estimates and projections and, consequently, you should not rely
on these forward-looking statements as predictions of future events. Words such
as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,”
“intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,”
“potential,” “continue,” and similar expressions are intended to identify such
forward-looking statements. These forward-looking statements involve
significant risks and uncertainties that could cause the actual results to
differ materially from the expected results.
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