BioLargo's ONM Environmental Acquires EcoMist Trash Receptacle Spray Technology

Rhea-AI Summary

BioLargo, Inc. (OTCQB:BLGO) announced the acquisition of EcoMist®, a deodorizing and sanitizing technology, by its subsidiary ONM Environmental. This device installs on waste collection vehicles to spray odor control products during collection, aiming to enhance service for solid waste customers. EcoMist® is easy to install and complements ONM's existing CupriDyne Clean product. The acquisition requires a 10% royalty on sales, aligning with ONM's growth strategy in air quality control. EcoMist® is touted as a unique solution for odor and VOC management.

Positive

• Acquisition of EcoMist® enhances ONM's product offerings for solid waste handling.
• EcoMist® is easy to install, potentially lowering customer service costs.
• Strategic intent to package EcoMist® with CupriDyne Clean may lead to increased sales.

Negative

• A 10% royalty obligation on EcoMist® sales could impact profit margins.

WESTMINSTER, CA / ACCESSWIRE / February 8, 2021 / BioLargo, Inc. (OTCQB:BLGO), a developer of sustainable technologies and a full-service environmental engineering company, today announced that its wholly owned subsidiary ONM Environmental has acquired a deodorizing and sanitizing technology, called EcoMist®, that helps raise the customer care bar for solid waste collectors to treat all types of waste receptacles in real time during pick up.

EcoMist® is a device installed directly onto any waste collection vehicle that automatically sprays odor control products and/or sanitizer into refuse bins or dumpsters during the waste collection process. ONM plans to test market the product directly with its major solid waste handling customers by packaging it with its popular odor and VOC control product CupriDyne Clean. A video showing EcoMist® in operation can be viewed here: https://www.biolargo.com/ecomist-video.

EcoMist® is easy to install and use. It works "out-of-the-box", allowing customers to install the system themselves, and meaning ongoing sales will not require a significant investment in logistics and servicing. ONM's acquisition of EcoMist® is part of its strategy to grow revenues of its air quality control division through chemistry deployment systems that lead to more scalable sales of its disruptive odor and VOC control product CupriDyne® Clean. It also helps ensure ONM can provide the largest waste handling companies in the country with a broad range of tools to solve their odor and VOC control challenges in all facets of their business.

ONM's only obligation under the acquisition agreement is a 10% royalty on EcoMist® system sales.

President of ONM Environmental Joseph Provenzano commented, "To the best of our knowledge the EcoMist system is one of a kind. We believe it is a good fit to enhance business growth and another example of how we continue to deliver valuable solutions for our customers while helping keep our environment cleaner, safer and healthier, as we pursue our overarching mission to ‘make life better'".

About BioLargo, Inc.

BioLargo, Inc. (OTCQB:BLGO) invents, develops, and commercializes innovative platform technologies to solve challenging environmental problems like PFAS contamination, advanced water and wastewater treatment, industrial odor and VOC control, air quality control, and infection control. With over 13 years of extensive R&D, BioLargo holds a wide array of issued patents, maintains a robust pipeline of products, and provides full-service environmental engineering. Our peer-reviewed scientific approach allows us to invent or acquire novel technologies and develop them to maturity through our operating subsidiaries. With a keen emphasis on collaborations with academic, municipal, and commercial organizations and associations, BioLargo has proven itself with over 80 awarded grants and numerous pilot projects. We monetize through direct sales, recurring service contracts, licensing agreements, strategic joint venture formation and/or the sale of the IP. Several of our technologies are commercially available and are advancing as disrupters in their respective markets. See our website at www.BioLargo.com.

Contact Information

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

Safe Harbor Act - caution regarding forward looking statements

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 the impact of the COVID-19 pandemic; 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 the COVID-19 pandemic on the Company's business, results of operations, financial condition, and stock price; 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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FAQ

What is EcoMist® and how does it work?

EcoMist® is a deodorizing and sanitizing technology that sprays odor control products into waste receptacles during collection.

When was EcoMist® acquired by BioLargo's ONM Environmental?

EcoMist® was acquired on February 8, 2021.

What are the financial implications of the EcoMist® acquisition for BioLargo?

ONM Environmental will pay a 10% royalty on EcoMist® sales, which may affect profit margins.

How will EcoMist® impact BioLargo's revenue?

The acquisition is part of ONM's strategy to grow revenues in the air quality control division.

What is the significance of EcoMist® for solid waste management?

EcoMist® offers a real-time solution for odor and VOC control during waste collection, improving customer service.