In a noteworthy development for the clean technology sector, Dennis P. Calvert, the dynamic President and CEO of BioLargo Inc. (BLGO:OTCQX), has been appointed by the U.S. Secretary of Commerce to join the prestigious Environmental Technologies Trade Advisory Committee (ETTAC). This committee plays a pivotal role, providing strategic advice to the Environmental Trade Working Group, which operates under the Trade Promotion Coordinating Committee (TPCC). This body focuses on trade policies and initiatives that significantly impact the U.S. environmental tech landscape, particularly the promotion of exports in this critical area.
The ETTAC comprises industry leaders from diverse sectors, including water and wastewater treatment, air quality control, and solid waste management. In a recent release, BioLargo emphasized the importance of American innovation in overcoming pressing environmental challenges. “Our nation excels in developing cutting-edge environmental technologies, especially in addressing sustainable water treatment solutions to combat persistent contaminants like PFAS,” Calvert stated. He stressed the urgency of expanding global outreach for these technologies to tackle worldwide environmental issues.
Commerce Secretary Gina Raimondo spotlighted the U.S. environmental technologies sector’s staggering revenue of $432 billion, highlighting its role in employing 1.8 million Americans. “This sector is not just vital; it is a bedrock of innovation that establishes the United States as a forerunner in global environmental technologies,” she remarked, eagerly anticipating the committee’s recommendations aimed at bolstering the competitiveness of American innovators.
Revolutionary PFAS Removal Technology
BioLargo operates as a consortium of subsidiaries—an intricate “family of companies”—encompassing ONM Environmental, BioLargo Engineering, BioLargo Water, BioLargo Energy Technologies, Clyra Medical Technologies, and the newly minted BioLargo Equipment Solutions & Technologies Inc. (BEST). Together, these entities are at the forefront of tackling “forever chemicals,” a term for synthetic compounds notorious for their persistence in the environment and their widespread usage in products ranging from fast-food packaging to firefighting foam.
Remarkably, BEST’s Aqueous Electrostatic Concentrator (AEC) technology is said to eradicate over 99% of PFAS from contaminated water, positioning BioLargo as a leader in the remediation landscape. Richard Ryan of Oak Ridge Financial recently noted the significance of BioLargo’s initiatives, mentioning a promising AEC municipal project in Stockholm, N.J. “The burgeoning market for PFAS removal, combined with BioLargo’s increasing validation in this domain, is an opportunity to watch,” he opined, rating the stock as a ‘Buy’ with a target price of $0.38 per share. A more optimistic bull case forecast places it as high as $0.50.
CEO Calvert on Market Disruption
In a robust display of growth, BioLargo reported a staggering 80% revenue increase for the year ending September 30 compared to last year, culminating in a third-quarter revenue of $4.4 million—a 63% jump from the previous year. “We’ve set yet another revenue record, marking our 10th consecutive year of remarkable growth,” Calvert declared. He expressed confidence that this achievement only scratches the surface of the company’s full potential. Each subsidiary, he asserts, possesses the capability to disrupt its respective market, thereby enhancing lives across the globe. With momentum building in various business segments, he projects 2025 as a landmark year.
As the focus on PFAS remediation intensifies, significant federal and state funding is becoming available. Richard Ryan reiterated his positive stance in a recent research note, asserting that awareness of the dangers posed by PFAS is spreading. “This area will only receive more scrutiny,” he warned, underscoring BioLargo’s expanding portfolio of potential PFAS projects, as regulatory frameworks from the EPA take shape.
Emerging Crisis: Tens of Millions Affected
The Environmental Protection Agency (EPA) recently cemented its commitment to addressing PFAS, issuing new regulations that classify certain widely used variants of these chemicals as hazardous. Initially synthesized in the 1930s, PFAS have infiltrated food and water supplies, resulting in exposure for millions. Dubbed “forever chemicals” due to their formidable stability and slow degradation, these toxic compounds pose health risks, including cancer and endocrine disruption.
BioLargo’s pioneering AEC technology has demonstrated its capability to meet the stringent EPA standards for PFAS in potable water. By employing an electrostatic separation process that drives contaminants through a proprietary membrane system, the technology not only minimizes energy consumption but also offers a waste stream significantly smaller than that of traditional methods.
Pilot studies reveal the potential of BioLargo’s technology to lower PFAS concentrations to “non-detection” levels, marking a watershed moment in environmental remediation efforts. According to Prophecy Market Insights, the global PFAS filtration market is anticipated to burgeon from $2 billion this year to $3.7 billion by 2034, as the urgency for efficient filtration methods escalates. “The persistent presence of PFAS, compounded by alarming health risks, underscores the critical demand for innovative remediation solutions,” researchers emphasize.
Ownership and Market Dynamics
An insightful look at BioLargo’s ownership structure reveals that insiders and management hold approximately 14.6% of the company. Key figures include Chief Science Officer Kenneth Code at 8.32%, CEO Calvert at 3.27%, and Director Jack Strommen at 1.62%. Institutional ownership stands at about 0.04%, while retail investors dominate with roughly 85% of shares.
With a market cap hovering around $57.83 million, BioLargo boasts approximately 301.8 million shares outstanding, of which around 259.05 million are free-floating. The stock currently trades within a 52-week range from $0.16 to $0.45—fluctuations indicative of the market’s response to the company’s evolving narrative in the clean-tech arena.
