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BioLargo Achieves 111% Progress to a File $1.5 Million Income for Third Quarter 2022

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Convention name scheduled for Wednesday, November 16 at 5:00 pm Jap

WESTMINSTER, CA / ACCESSWIRE / November 15, 2022 / BioLargo, Inc. (OTCQB:BLGO), a developer of sustainable cleantech applied sciences and full-service environmental engineering firm, filed its Quarterly Report on Kind 10-Q for the three months and 9 months ended September 30, 2022, with the SEC yesterday (www.biolargo.com/sec-filings). Right here the corporate has offered highlights from the quarterly report and a dialogue of key enterprise initiatives with probably the most potential to stimulate progress.

The corporate will maintain an investor webcast on Wednesday, November 16, 2022, at 2:00 pm Pacific / 5:00 pm Jap, on the following hyperlink, open to the general public: https://www.webcaster4.com/Webcast/Web page/2448/47095

BioLargo’s President and CEO Dennis P. Calvert mentioned, “On this quarter we once more broke our quarterly income file, and have already far surpassed 2021’s whole revenues. Our technique of rising by leveraging our core know-how belongings by way of channel partnerships is paying off, as evidenced by the rising success of our pet odor management product partnership. We additionally count on the business roll-out of our PFAS remedy system to play an enormous function sooner or later progress of our firm.”

Monetary highlights

  • Firm-wide consolidated income for the three and 9 months ended September 30, 2022, was $1,500,000 and $3,786,000, which is a 111% and 117% improve over the identical intervals in 2021; income this quarter was a 13% improve in contrast with the second quarter of 2022.

  • Revenues from ONM Environmental, the corporate’s odor and VOC management subsidiary, for the three and 9 months ended September 30, 2022, had been $1,199,000 and $2,499,000, a rise of $779,000 and $1,441,000, from the identical intervals in 2021. Within the third quarter of 2022, this subsidiary generated working earnings of $400,000, in comparison with an working lack of $72,000 in the identical interval of 2021.

  • Revenues from third events for BioLargo Engineering, Science & Applied sciences, the corporate’s environmental engineering subsidiary, for the three and 9 months ended September 30, 2022, had been $283,000 and $1,254,000, a rise of $2,000 and $699,000, from the identical intervals in 2021.

Industrial highlights

  • Gross sales of the Pooph branded pet odor management product to Ikigai have risen considerably, accounting for the majority of the rise in income at ONM Environmental. Ikigai intends to proceed their nationwide promoting marketing campaign because the product is launched in Walmart and different nationwide retailers.

  • The corporate secured its first buyer to engineer a complete PFAS mitigation plan for a big industrial web site. The challenge’s first part, the event of a complete PFAS remedy plan, is underway, and subsequent phases are anticipated to advance within the coming months.

  • The corporate’s plans to roll out its PFAS remedy know-how throughout the nation progressed considerably, with the securing of Product Restoration Administration as a contract producer, and a rising variety of gross sales consultant organizations which might be anticipated to cowl most of North America.

  • BioLargo’s engineering division accomplished the primary part of some massive tasks, together with the waste-to-energy conversion plant challenge in South America and the gas manufacturing system challenge with Extremely Protected Nuclear. Each tasks are anticipated to advance to subsequent phases that are of larger scope within the coming months.

  • The corporate added two new board members to its crew: Linda Park and Christina Bray. Each new board members have a background, training, and company expertise that make them a really perfect match to advance BioLargo’s core organizational objectives, and its imaginative and prescient to “make life higher” by way of its cleantech services.

  • BioLargo Engineering, Science & Applied sciences constructed discipline items of its PFAS remedy know-how the Aqueous Electrostatic Concentrator (AEC) for use in trial tasks whereby clients check out the know-how, for a price, to make sure it accomplishes their water remedy objectives and assists them in assembly new water requirements for PFAS. Study extra in regards to the firm’s PFAS Testing Program (the corporate’s piloting program) at https://www.biolargoengineering.com/biolargo-pfas-testing-program/.

About BioLargo, Inc.
BioLargo, Inc. (OTCQB:BLGO) invents, develops, and commercializes revolutionary applied sciences within the cleantech house, together with for PFAS contamination, superior water and wastewater remedy, industrial odor and VOC management, air high quality management, and an infection management. With over 13 years of in depth R&D, BioLargo holds a big selection of issued patents, maintains a strong pipeline of merchandise, and gives full-service environmental engineering. Our strategy is to invent or purchase novel applied sciences and develop them to maturity by way of our working subsidiaries. We now have developed various key channel partnerships to assist the attain of our services and maximize their business potential. With a eager emphasis on collaborations with educational, municipal, and business organizations and associations, BioLargo has confirmed itself with over 90 awarded grants and quite a few pilot tasks. We monetize by way of direct gross sales, recurring service contracts, licensing agreements, strategic three way partnership formation and/or the sale of the IP. See our web site at www.biolargo.com.

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

Protected Harbor Act
This press launch incorporates forward-looking statements throughout the which means of the Non-public Securities Litigation Reform Act of 1995. These forward-looking statements embody with out limitation these about BioLargo’s (the “Firm”) expectations concerning anticipated income and plans for future operations, and could also be recognized by phrases comparable to “we imagine”. These statements contain dangers and uncertainties, and precise outcomes might differ materially from any future outcomes expressed or implied by the forward-looking statements. Dangers and uncertainties embody with out limitation: the impact of the COVID-19 pandemic on the Firm’s enterprise, outcomes of operations, monetary situation, and inventory worth; the impact of world and regional financial situations on the Firm’s enterprise, together with results on buying selections by customers and companies; the flexibility of the Firm to compete in markets which might be extremely aggressive and topic to fast technological change; the flexibility of the Firm to handle frequent introductions and transitions of services, together with delivering to {the marketplace}, and stimulating buyer demand for, new merchandise, companies, and technological improvements on a well timed foundation; the dependency of the Firm on the efficiency of distributors of the Firm’s merchandise. Extra info on these dangers and different potential elements that might have an effect on the Firm’s enterprise and monetary outcomes is included within the Firm’s filings with the SEC, together with within the “Threat Elements” and “Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations” sections of the Firm’s most lately filed periodic experiences on Kind 10-Okay and Kind 10-Q and subsequent filings. The Firm assumes no obligation to replace any forward-looking statements or info, which converse as of their respective dates.

SOURCE: BioLargo, Inc.

View supply model on accesswire.com:
https://www.accesswire.com/725752/BioLargo-Achieves-111-Progress-to-a-File-15-Million-Income-for-Third-Quarter-2022

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