BioLargo Engineering Secures Multi-Year Air Force Base Air Compliance Project
BioLargo (OTCQX:BLGO) announced that its engineering subsidiary has secured a multi-year contract to provide air quality services to three U.S. Air Force bases in New Mexico. The contract, potentially generating $650,000 annually, spans up to five years and represents the company's largest Air Force contract to date. This new agreement adds to BioLargo's ongoing environmental support at six other Air Force bases. The contract ensures regular monthly flat fee revenue over its duration, with annual renewal options. Bhate Environmental Associates is the prime contractor under the Fence-to-Fence (F2F) support contract. BioLargo's President, Randall Moore, emphasized the importance of such long-term contracts for steady income and the commercialization of their cleantech innovations.
- Secured a multi-year contract with three U.S. Air Force bases.
- Potential annual revenue of $650,000 from the new contract.
- Largest Air Force contract to date for BioLargo.
- Contract duration of up to five years with annual renewal options.
- Regular monthly flat fee revenue from the contract.
- Addition to ongoing work at six other Air Force bases.
- Supports BioLargo's strategy for steady, reliable income.
- Empowers focus on commercializing cleantech innovations.
- New contract subject to annual renewal, no long-term guarantee.
- Revenue dependent on contract renewal each year.
- Potential risk if Bhate Environmental Associates fails to perform as the prime contractor.
WESTMINSTER, CA / ACCESSWIRE / June 7, 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 contract to provide air quality services to three New Mexico U.S. Air Force (USAF) bases for up to five years, with a potential annual average revenue of
The new contract is in addition to ongoing environmental support work at six Air Force bases and is the company's largest dollar-value Air Force contract to date. These contracts provide regularly monthly flat fee revenue to the company over the life of the contract, which the Air Force may renew each year. BioLargo's work at the New Mexico bases includes air quality regulatory compliance. Bhate Environmental Associates is the prime contractor with the Air Force under the Fence-to-Fence (F2F) support contract.
BioLargo Engineering, Science & Technologies President Randall Moore commented, "Our team has served Air Force bases with fence-to-fence air quality compliance services for years, but this is the largest such contract we've secured to-date. Larger, long-term contracts such as this one are crucial to our strategy of securing steady, reliable income from external clients. This empowers us to focus on commercializing BioLargo's innovative cleantech technologies, including advancements in water treatment, energy storage, and air quality solutions."
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.
About Bhate Environmental Associates, Inc.
Bhate Environmental Associates, Inc. (Bhate) provides a diverse range of technical services in the environmental and infrastructure markets to the federal government and private industry. Headquartered in Birmingham, Alabama, Bhate's reach is both national and global. At Bhate, we value high standards of safety, professionalism, ethics, and service to our clients. We foster a collaborative environment that encourages innovative ideas while providing challenges and rewards for our dedicated staff. Through our team's Responsiveness, Integrity, and Teamwork, Bhate delivers professional, quality, cost-effective, and on-time results to our clients. See their website at www.Bhate.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.
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