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BioLargo seeks 'to make life better' when it comes to clean water, clean air, health

Proactive Investors Monday, 9 September 2019 ()
Targets solid waste, wastewater, industrial odor, and advanced wound-care markets Flagship product CupriDyne Clean now marketed to cannabis producers seeking odor elimination Recently secured $2.6 million in new capital and refinanced more than $1.3 million in liabilities What BioLargo Inc does: BioLargo Inc (OTCMKTS:BLGO) is an environmental engineering company with a simple mission “to make life better” when it comes to clean water, clean air and good health. The company, based in Westminster, California, has developed several innovative and patented products targeted at three markets: water and wastewater treatment, industrial odor and volatile organic compounds (VOC) elimination, and advanced wound care.  BioLargo operates four subsidiaries: Odor-No-More Inc, BioLargo Water Inc, BioLargo Engineering, Science & Technologies Inc (BLEST), and Clyra Medical Technologies Inc.  The Odor-No-More division’s main product is CupriDyne Clean Industrial Odor and VOC Eliminator, which is aimed at the solid waste/landfill/compost, wastewater and oil & gas industries. The product eliminates odor-causing compounds rather than masking them. The BioLargo Water division develops the Advanced Oxidation System (AOS), a disruptive industrial water treatment technology designed to eliminate waterborne pathogens and recalcitrant contaminants with better energy-efficiency and lower operational costs than current technologies.  The BioLargo Engineering division piggybacks on BioLargo Water by offering consulting and engineering services for the water and wastewater treatment industries. It also conducts environmental and Occupational Safety and Health Administration (OSHA) workplace-safety compliance audits. The engineering division, along with Odor-No-More, also helps cannabis companies navigate the complex environmental, odor-control, regulatory-compliance and permitting processes.  Clyra Medical develops products and solutions to safely treat chronic wound infections and promote healing while reducing the need for antibiotics.  How is it doing:  BioLargo appears to have hit its stride in 2019, led by its growing Odor-No-More and BLEST subsidiaries.  At the latter, during the summer, the company hired 27-year waste-handling industry veteran Mitch Noto to expand sales as the company sees increased demand for its CupriDyne Clean product among industry-leading companies. A third-party study was also able to confirm recently that CupriDyne Clean eliminates odors and VOCs emitted during cannabis and hemp growing and production.  BLEST this year secured multi-year subcontracts to provide air-quality compliance and permitting services to seven US Air Force bases in Arizona, Kansas, Illinois, and Texas. It also launched a client project to identify a solution for processing 1.1 million tons of magnesium-rich tailing residues in the California coastal region. And BioLargo engineering division recently commenced a US Environmental Protection Agency-sponsored grant to establish proof of viability for a system to assist in the removal of PFAS chemicals from water. The chemicals, which come from food packaging, have been linked to cancer and decreased fertility. The BioLargo Water subsidiary has had a busy year as well, kicking off in July with a pre-commercial demo of the company’s Advanced Oxidation System (AOS) to treat captured stormwater in Southern California. AOS technology combines highly energized iodine molecules with cutting-edge filtration materials to destroy bacteria and dismantle soluble organic contaminants. In addition, the subsidiary launched a pilot program for the treatment of poultry wastewater at an Alberta, Canada processing facility and ran another pilot for treatment of microbrewery wastewater in Southern California. BioLargo’s fourth subsidiary, Clyra Medical Technologies, has developed five wound-treatment products -- dressings and solutions -- that await Food and Drug Administration approval via a 510(k) application. Clyra also is advancing with its stem-therapy technology called SkinDisc that uses a patient’s own bone marrow and plasma to help heal chronic wounds. The company so far has documented 250 successful pre-clinical cases of SkinDisc.  As for BioLargo’s finances, the numbers are improving, as it brings in more revenue while lowering its cash-burn rate. For the second-quarter of 2019, which ended June 30, the company brought in revenue of $426,000, a 30% jump from the same period a year ago. In particular, sales of CupriDyne Clean increased by 31% year-over-year. BioLargo’s net loss came in at $1.9 million, nearly half the 2018 net loss of $3.6 million. The net loss for the first six months of 2019 decreased by 21%, coming in at $4.7 million, compared to a loss of $6 million for the prior year. Also in the 2Q, BioLargo secured $2.6 million in new capital and refinanced more than $1.3 million worth of liabilities. Inflection points: Looking ahead, BioLargo says it’s hopeful it will secure more environmental-engineering contracts with the US Air Force and win FDA pre-market clearance for its wound-healing products while it seeks to increase sales of its flagship CurpriDyne Clean product in the solid-waste market estimated to be worth $1.3 billion annually. The burgeoning and potentially lucrative cannabis industry is also generating a buzz around CurpriDyne Clean, and BioLargo is positioning itself “to take advantage of this massive opportunity.” BioLargo says there are 15,000 cannabis production sites in California alone, and many growers are discovering that the pungent smell their facilities emit bothers both neighbors and regulators. For cannabis companies, odor mitigation is a large part of the permitting process, but so is neutralizing VOCs emitted by the plants, whose vapors can contribute to smog in certain cities.  What the boss says: “Over time what started as an idea became technology and technology became products and products became solutions. Now the company is really a full-service solution provider,” BioLargo CEO Dennis Calvert told Proactive in a recent interview. “Now, we’re small but mighty in intellectual property and power and talent. And so we can go into situations and really, truly solve issues for clients in a way that most companies can’t even imagine.” 
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