BioLargo Engineering Increases Ongoing Revenue with Another Air Force Contract

Rhea-AI Summary

BioLargo, a company focused on sustainable technologies, announced its engineering subsidiary secured a subcontract to provide air quality services to two Arizona U.S. Air Force bases. This contract, worth approximately $812,000 annually, follows another recent contract for three New Mexico Air Force bases, generating an average annual revenue of $650,000. BioLargo's total monthly revenue from these contracts exceeds $100,000. The four-year prime contract ensures pricing but does not guarantee continuation. BioLargo's services include air quality regulatory compliance under the Fence-to-Fence (F2F) support contract through HLTLI Joint Venture.

Positive

• BioLargo secured a subcontract for air quality services at two Arizona Air Force bases, generating $812,000 annually.
• Another contract for New Mexico bases adds $650,000 annually in revenue.
• Combined contracts result in over $100,000 monthly revenue.
• Four-year prime contract secures pricing for the contract duration.

Negative

• Four-year prime contract does not guarantee continuation of services.

USAF work now amounts to over $100,000 in revenue per month.

WESTMINSTER, CA / ACCESSWIRE / June 20, 2024 / BioLargo, Inc. (OTCQX:BLGO), a company that creates and commercializes sustainable technologies to solve tough environmental and cleantech challenges, announced that its engineering subsidiary has been awarded a subcontract to provide air quality services to two Arizona U.S. Air Force bases for up to four years, with expected annual revenue of approximately $812,000.

The news comes on the heels of a similar recently announced contract award to serve three Air Force bases in New Mexico, which has a potential annual average revenue of $650,000. BioLargo's work at the Arizona bases consists primarily of the air quality regulatory compliance portion of a Fence-to-Fence (F2F) support contract through prime contractor HLTLI Joint Venture, LLC, a joint venture between HL Environmental Services and TLI Solutions.

The four-year prime contract secures pricing for F2F services over the term of the contract but does not guarantee continuation of the contract over that duration. In the past, BioLargo's engineers have continued providing services through the duration of the prime contract. In total, BioLargo Engineering's work at Air Force bases now amounts to over $100,000 of revenue per month.

BioLargo Engineering, Science & Technologies President Randall Moore commented, "We are pleased and honored to continue providing vital engineering services to the United States Air Force and supporting their active mission and environmental compliance needs. These new contracts will provide for over $100,000 a month of ongoing fixed revenues while we continue to expand our abilities to support new opportunities."

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.

SOURCE: BioLargo, Inc.

View the original press release on accesswire.com

FAQ

What is the annual revenue from BioLargo's new Air Force contract?

BioLargo expects annual revenue of approximately $812,000 from its new contract with Arizona Air Force bases.

How much monthly revenue does BioLargo generate from its Air Force contracts?

BioLargo generates over $100,000 in monthly revenue from its Air Force contracts.

What is the duration of BioLargo's new subcontract with the U.S. Air Force?

The new subcontract with the U.S. Air Force has a potential duration of up to four years.

What is the stock symbol for BioLargo?

BioLargo's stock symbol is BLGO.

What services will BioLargo provide under the new Air Force contract?

BioLargo will provide air quality regulatory compliance services under the new Air Force contract.