BioLargo reports record 3Q revenue; says its water technologies are ready for commercialization

BioLargo, Inc (OTCQB:BLGO) late Monday announced its 3Q financial and operating results, which saw its revenue rise 26% year-over-year to a record $0.67 million, as the company rebounded from early pandemic shutdowns.  The company noted that its industrial operating divisions each have a backlog of revenue-generating projects that collectively exceed $2 million, which it says will provide “reliable revenue” into 2021.  BioLargo CEO Dennis Calvert said in a statement: "Several of our patented technologies are on the cusp of significant commercial breakout. Our two water technologies - the AOS and the AEC - are now ready for commercial trials that we believe will lead to first sales. We are constructing our first commercial ready AOS unit now. At the same time, we are refining comprehensive marketing plans for their rollout and are already in discussions with customers, distributors and strategic partners."   READ: BioLargo seeks 'to make life better' when it comes to clean water, clean air, and health He added: "We have assembled world-class technologies and talent and are focused on their highest and best purpose. While extraordinarily difficult, we have consistently invested in R&D while advancing from technology to product and onto first commercial sales and bundled services. We are now witnessing the first stages of disruption, proving their opportunities for significant commercial futures. We believe the value of our technology portfolio is far greater than is currently reflected in our stock price and continue to march forward knowing that the portfolio has a future that will generate value for decades to come." During the quarter, BioLargo converted more than $3.5 million of its debt into equity and began construction of a commercial-scale AOS water treatment system for delivery to a municipal wastewater treatment plant in Montreal. Its medical subsidiary also launched a COVID-19 Clyraguard Personal Protective Spray on Amazon, while expanding sales of Clyraguard from the first quarter. It is expected to launch a new product soon with another anticipated in mid to late 2021. BioLargo is an environmental engineering company, which 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.  Contact Sean at sean@proactiveinvestors.com