WESTMINSTER, CA - BioLargo, Inc. (OTCQB:BLGO), an environmental and cleantech solutions provider, has announced a significant revenue increase, with figures for the year ended December 31, 2023, more than doubling compared to 2022. This marks the second consecutive year the company has achieved this growth milestone.
The substantial revenue growth has been primarily attributed to the success of Pooph, a pet odor control product line that BioLargo supplies and for which it manages national marketing and distribution. The products are available through major retailers, including Amazon (NASDAQ:AMZN), Walmart (NYSE:WMT), and Chewy (NYSE:CHWY). Pooph, Inc., the partner company responsible for the brand, anticipates continued sales growth in 2024, which is expected to further enhance the value of BioLargo's brand.
BioLargo's President and CEO, Dennis P. Calvert, expressed optimism about the company's future, citing positive market responses to their PFAS removal and water treatment technologies, as well as a long duration battery storage solution. Calvert announced the company's expectation to generate its first revenues from its proprietary PFAS treatment technology within the year, following a key municipal drinking water project.
While the company is still finalizing its audit for the 2023 financial statements, the preliminary revenue estimates are promising. BioLargo plans to file its annual report with the SEC by the end of March, at which point the figures will be finalized.
BioLargo's business model focuses on developing innovative technologies, particularly in areas such as PFAS contamination, water and wastewater treatment, odor and VOC control, air quality improvement, energy efficiency, safe energy storage, and infection control. The company seeks to extend the commercial reach of its products through licensing and partnerships.
The information in this article is based on a press release statement, and readers should be aware that forward-looking statements involve risks and uncertainties. Actual results may differ materially from those projected in any forward-looking statements due to various factors, including economic conditions, competition, and technological changes. BioLargo's recent filings with the SEC provide more detailed information on these risks.
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