Westminster, CA – January 22, 2024 – BioLargo, Inc. (OTCQB:BLGO), a company that creates and commercializes sustainable technologies to solve tough environmental and cleantech challenges, announced that its annual revenues for the year ended December 31, 2023, were more than double 2022 revenues, representing the second year in a row revenues have doubled.
BioLargo’s increase in sales were primarily driven by sales
of Pooph, a blockbuster pet odor control product line that features safe,
effective and eco-friendly products sold through national retailers like
Amazon, Walmart, Chewy and more. BioLargo serves as a technology partner and
supplier to Pooph, Inc., and they manage the national marketing, branding, and
distribution for the Pooph line of products.
BioLargo President and CEO Dennis P. Calvert said, “The
success of Pooph validates our business model of inventing a best-in-class
technology-based product, proving it up through world-class R&D, and
partnering to maximize commercial reach. The team at Pooph informs us that they
expect to continue growing sales in 2024 and by doing so, they will continue to
increase the value of its brand. These are both are great developments for BioLargo.”
He continued, “The response from the marketplace to our PFAS
removal and water treatment related technologies as well as our long duration
battery storage solution is highly encouraging for 2024 and beyond. We expect to earn our first revenues from our
proprietary PFAS treatment technology this year thanks to our securing a key
municipal drinking water project, the success of which we anticipate will
springboard the technology into more and more projects as customers become more
comfortable with our novel technology with superior claims over the
competition.”
The company is still working to conclude its audit of its
2023 financial statements and intends to file its annual report with the SEC at
the end of March. The revenue estimates for 2023 are preliminary and subject to
change pending review and audit by the company’s independent registered public
accounting firm.
About BioLargo, Inc.
BioLargo, Inc. (OTCQB:BLGO) is a cleantech and life sciences
innovator and engineering services solution provider. Our core products address
PFAS contamination, achieve advanced water and wastewater treatment, control
odor and VOCs, improve air quality, enable energy-efficiency and safe on-site
energy storage, and control infections and infectious disease. Our approach is
to invent or acquire novel technologies, develop them into product offerings,
and extend their commercial reach through licensing and channel partnerships to
maximize their impact. See our website at www.BioLargo.com.
Contact Information
Dennis P. Calvert
President and CEO, BioLargo, Inc.
888-400-2863
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 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 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.
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