BioLargo Continues Record-Breaking Revenue Growth

  • Achieved Record Revenue in Q4 (>$560,000)
  • Achieved Record Revenue for 2019 (>$1.8 million)
  • Grew Total Revenue by 37% over prior year

WESTMINSTER, CA, Jan. 13, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE – BioLargo, Inc. (OTCQB: BLGO), developer of sustainable products and a full-service environmental engineering company, today announced that it had set new quarterly and annual revenue records for 2019 and reported on key milestones for the year.

Financial Highlights

  • Achieved record revenue in fourth quarter 2019, more than $560,000
  • Achieved record revenue for calendar year 2019, more than $1.8 million
  • Grew revenue by 37% in calendar year 2019 compared with 2018
  • Increased revenues over the past two years by 10% per quarter
  • Generated positive cash flow for its subsidiary Odor-No-More
  • Retired all but $259,000 in variable priced convertible debt
  • Raised approximately $2.6 million in mandatorily convertible debt on friendly terms in summer 2019

Technical & Commercial Highlights

  • Awarded EPA grant to test BioLargo’s proprietary solution to eliminate PFAS contaminants from water. Product test successful, company working on scale-up design
  • Validated its odor and VOC control product CupriDyne® Clean effectively breaks down hydrogen sulfide
  • Validated CupriDyne Clean breaks down terpenes, the odorous chemicals produced by the cannabis and hemp industry
  • Launched odor and VOC control products into the cannabis and hemp industry across North America through a third-party distributor
  • Received FDA 510(k) clearance for wound care product organizing for commercial launch through subsidiary Clyra Medical Technologies
  • Received 73rd government and industry research grant for AOS clean water technology
  • Successfully demonstrated AOS system treats poultry process water (commercial pilot organizing)
  • Successfully demonstrated spiral AOS works at high flow rates to enable continued scale-up
  • Successfully demonstrating AOS for stormwater treatment in ongoing demonstration pilot
  • BioLargo Engineering won seven contracts to provide environmental engineering services to US Air Force bases
  • Signed memorandum of understanding with wastewater treatment company in South Korea, and the City of Daegu, South Korea, to develop manufacturing for Southeast Asia (contracts in process)

BioLargo President and CEO Dennis P. Calvert commented, “During 2019, we accomplished both commercial and technical breakthroughs in every operating unit, closing out the year by being named ‘Cleantech Company of the Year’ for Southern California by Sustain Southern California. Our award-winning technologies are validated and marching ahead to commercial adoption.  While we are proud of our accomplishments, we are certainly not satisfied because we believe our innovations will continue to grow and find large commercial markets around the world. We have only scratched the surface of our future potential.”

Mr. Calvert continued, “We expect the upward trends in revenue to continue. With appropriate growth capital and continued sales increases from our distributors, we believe we can grow our monthly revenue from $175k+ per month to over $350k+ a month by the end of the year, representing a 2X growth rate or more.

We have set forth the following goals for 2020:

Odor-No-More

  • Grow monthly revenues 2-4X
  • Expand sales by building distribution partnerships

BLEST Engineering

  • Drive profitability from external contracts
  • Support innovation, development and sales efforts
  • Scale up BioLargo Engineering’s proprietary PFAS treatment technology

BioLargo Water

  • Finance monthly operational costs through third-party investments
  • Complete demonstration pilots for poultry process water and stormwater treatment
  • Publish academic papers validating the AOS
  • Secure contracts for 3+ commercial clients
  • Secure first commercial partner relationship

Clyra Medical Technologies

  • Continue to finance through third-party investments
  • Secure clinical validations and FDA approvals, as required for expanded uses of our wound irrigation solution (indications for use)
  • Commercial launch of first product
  • Prepare for the potential spin out and change in accounting from consolidated reporting to investment interest

We are very excited about 2020 and believe that our long-term stockholders will realize substantial value as we continue building a successful company. BioLargo’s depth of talent and technology is amazing and they position us well to be the solution provider of choice for clients and partners around the world.”

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 wounds to promote infection control and regenerative tissue therapy.

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.

Contact Information
Dennis Calvert
President and CEO
BioLargo, Inc.
888-400-2863

Source: BioLargo, Inc.

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