BioLargo Inc said it was "very close to unlocking the potential" of its technologies, as the cleantech group outlined key strategic partnerships and initiatives, aimed at expanding the firm's commercial reach.
In a wide-ranging letter to stockholders, CEO Dennis Calvert also noted BioLargo had the financing in place to meet its short-term needs and has reduced its debt by over $4 million since the end of 2019.
He highlighted that the firm's per-and poly-fluoroalkyl substances (PFAS) chemical water treatment device - the Aqueous Electrostatic Concentrator (AEC) - was heading towards commercial launch earmarked for the first half of 2022 and the company had recently launched a formal testing program.
READ: BioLargo introduces new PFAS testing and treatment system selection program
BioLargo is also launching a new wastewater treatment product with the largest private water treatment company in the USA, Garratt-Callahan, he noted.
The aim is that BioLargo provides manufacturing, while Garratt-Callahan sells the product to new and existing customers.
Calvert said that first units will be completed for final operational testing in the next few weeks, before a full launch in early 2022.
"Garratt-Callahan aims to deliver 25-35 units of this new product to its customers in the first year alone, with each unit selling in a range that we believe will be competitively priced in the $100,000-$500,000 range," he said, adding that other opportunities were being discusssed with the bigger firm.
Elsewhere, BioLargo partner Ikigai Holdings aims to launch a new consumer product based on the firm's patented technology and "is in the process of developing television commercials and other marketing materials".
If test marketing of the first product is successful, it will launch the product aiming to sell it to major retailers in the United States, said the company boss.
Also noted in the letter was BioLargo's "memorandum of understanding" with Aquaco Resources Inc to sell water treatment equipment and provide engineering solutions for its customers.
Among other important commercial progress cited by Calvert was at its South Korean joint venture; its distributor's work in the cannabis industry, and that its engineering division, BioLargo Engineering, Science & Technologies (BLEST), had, in June this year, secured over $1.2 million in new contracts with external clients.
At the AOS pilot project near Montreal, Calvert said the firm was "excited" with progress and last week scientists there had confirmed it removed pharmaceutical micropollutants and simultaneously disinfected the wastewater, while consuming minimal electricity.
BioLargo subsidiary Clyra Medical Technologies also recently launched a new product, Bioclynse, the first efficacious, safe, and long-acting wound irrigation solution that can be used throughout the entire surgical procedure, with no need to rinse out.
"Clyra has recently landed its first repeat orders from hospitals using the product, and Clyra management is excited about its future," said Calvert.
The CEO said he and the management team have "never been more excited and optimistic than we are today".
"We know that we have the talent (in our expert science and engineering team), the necessary tools (in our unparalleled technologies), and the opportunity (in market needs) to convert this company into a cleantech powerhouse," he said.
Contact the author at giles@proactiveinvestors.com