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BioLargo, Inc. (BLGO) focuses on delivering sustainable technology-based products to address critical issues in water, food, agriculture, healthcare, and energy sectors. The company's subsidiary, BioLargo Water, Inc., is known for its advanced oxidation systems, including the AOS filter, designed to efficiently eliminate toxic contaminants in water. BioLargo has received the Technology Star Award for its breakthrough innovation in the oil industry and recognized as a technology innovation leader in the water treatment market. Additionally, the company owns a 50% interest in the Isan System, which has been honored as a top 50 water company for the 21st century.
BioLargo (OTCQX:BLGO) reports a successful 2024 with significant achievements across its business segments. The company's stock appreciated from $0.17 to a high of $0.45 in 2024, currently trading at $0.30. Cash balance increased to $3.9 million in Q3 2024 from $3.5 million at 2023 year-end, with shareholders' equity reaching $6.0 million.
Key highlights include the successful expansion of Pooph, their pet odor product line, now available at major retailers including Amazon, Walmart, and Target. The company's medical subsidiary invested over $2 million in preparing Bioclynse wound irrigation solution for surgical applications. Their battery technology subsidiary completed a pilot manufacturing facility, while their water treatment division secured their first commercial PFAS-treatment project.
For 2025, BioLargo aims to uplist to NASDAQ or NYSE, continue revenue growth, launch Bioclynse, expand PFAS treatment systems, and develop commercial-sized Cellinity battery cells. The company achieved zero share dilution in the second half of 2024.
BioLargo Inc. (OTCQX:BLGO) announced that its President and CEO Dennis P. Calvert has been appointed by U.S. Secretary of Commerce Gina Raimondo to serve on the Environmental Technologies Trade Advisory Committee (ETTAC) for the 2024-2026 term. ETTAC advises on trade policies and programs affecting the U.S. environmental technology industry through the Trade Promotion Coordinating Committee (TPCC).
The U.S. environmental technologies sector generates $432 billion in revenue and employs 1.8 million American workers. The committee includes representatives from various environmental sectors including water treatment, air quality control, and waste management.
BioLargo (OTCQX:BLGO) reported strong financial results for Q3 2024, with year-to-date revenues reaching $14.1 million, an 80% increase compared to the same period in 2023. Third-quarter revenue grew 63% to $4.4 million. The company reduced its net loss to $1.1 million for Q3 and $2.6 million year-to-date, improving from $1.5 million and $3.6 million respectively in 2023. As of September 30, 2024, BioLargo held $3.9 million in cash and cash equivalents, with total stockholder's equity at $6.0 million. The company has achieved its tenth consecutive year of record-setting growth.
BioLargo (OTCQX:BLGO), a developer of sustainable technologies and environmental engineering company, will host an investor webcast and conference call on Thursday, November 14, 2024 at 4:30 PM Eastern Time. The event will review the company's financial results for Q3 2024 and nine months ending September 30, 2024, discuss recent milestones, and include a Q&A session. The webcast replay will be available until February 14, 2025, and teleconference replay until November 28, 2024.
BioLargo (OTCQX: BLGO) announced its participation in the 17th annual LD Micro Main Event on October 29th at 3:00 PM PT at the Luxe Sunset Boulevard Hotel in Los Angeles. Dennis P. Calvert, President and CEO, will present the company's plans for commercializing their Cellinity™ battery energy storage technology through a partner-centric business model. The event runs from October 28th-30th, featuring approximately 150 companies presenting in half-hour slots and conducting private investor meetings. The company recently validated key performance metrics of its safe, long-lasting battery technology.
BioLargo, Inc. (OTCQX:BLGO) has announced successful preliminary internal testing of its Cellinity battery technology, confirming key performance metrics. The tests verified the stability of the battery cell chemistry, reliability of the sealed, non-venting cell design, and its ability to quickly charge and discharge at high voltage. Cellinity is positioned as a superior alternative to lithium-ion batteries for long-duration energy storage applications, offering advantages in safety, sustainability, longevity, and energy density.
The company is now proceeding with third-party validation testing at acclaimed facilities to further assess Cellinity's electrochemical performance. BioLargo is also advancing the development of larger format 'Spartan' Cellinity cells and battery modules. The announcement highlights the significant market potential for energy storage solutions, with global supply projected to reach over 5 terawatts by 2050 and market value estimates between $1-3 trillion by 2040.
BioLargo (OTCQX:BLGO) announced a ribbon-cutting ceremony for its pilot-scale manufacturing facility for Cellinity, its next-generation battery energy storage technology. The invite-only event will be held on September 21, 2024, at BioLargo's facilities in Oak Ridge, Tennessee.
Cellinity is designed for safe, environmentally conscious large-format long-duration battery energy storage for applications including grid-scale storage, renewable energy storage, and EV charging stations. The event will feature a facility tour and presentations on how Cellinity batteries could improve renewable energy storage and grid reliability.
BioLargo will also present a new prototype scaled-up version of its Cellinity battery cells. The company is working towards a 'sell factories, not batteries' business model, with potential international partners from Norway attending the event.
BioLargo's subsidiary, Clyra Medical Technologies, has appointed Dr. Steven J. Kavros as its new Chief Medical Officer. Dr. Kavros brings extensive experience in advanced wound healing and limb preservation, having spent over 20 years at the Mayo Clinic. He has a strong background in research, medical education, and the medical device industry. Dr. Kavros has given over 1,800 presentations at conferences and authored numerous peer-reviewed papers. His expertise includes successfully bringing multiple products to market in wound healing, limb preservation, and orthopedics. Clyra CEO Steve Harrison believes Dr. Kavros' clinical expertise and business insight will be important for the company's manufacturing and distribution plans for its Bioclynse product.
BioLargo, Inc. (OTCQX:BLGO), a sustainable technology developer and environmental engineering company, has announced an investor webcast and conference call scheduled for Wednesday, August 14, 2024, at 1:30 PM Pacific Time. The event will review the company's financial results for Q2 2024, discuss recent milestones, and include a Q&A session. Participants can join via webcast or teleconference, with replay options available until August 28 for teleconference and November 14 for webcast. This event provides an opportunity for investors and the public to gain insights into BioLargo's performance and future outlook.
BioLargo, Inc. (OTCQX:BLGO), a cleantech company, reported record quarterly revenue of $5 million for Q2 2024, a 247% increase compared to Q2 2023. The company's revenue for the first six months of 2024 grew by 88% compared to the same period in 2023. Despite the revenue growth, BioLargo recorded a net loss of $780,000 for the quarter, including $540,000 in non-cash stock option compensation expense. As of June 30, 2024, the company had $4.8 million in cash and cash equivalents, with total assets of $10.1 million and stockholder's equity of $5.9 million. CEO Dennis P. Calvert expressed confidence in the company's position to advance the commercialization of its cleantech products and services. The final quarterly report is expected to be filed by August 14, 2024, with an earnings conference call scheduled for the same day.
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