BioLargo Inc (OTCMKTS:BLGO) CEO Dennis P Calvert said Monday that the company is "forging ahead" and is uniquely positioned to 'weather the storm' of the coronavirus (COVID-19) outbreak as it outlined its response to the pandemic.
The firm's major clients are municipalities, landfills and air force bases and it continues to support them, said Calvert.
For example, the Canadian team at BioLargo Water is formulating a proprietary product using core technology in response to a Canadian government request for hand sanitizers.
"BioLargo has entered into contract negotiations with a Canadian distributor to manage the selling process. Additional partners and assets are being evaluated to ensure the process can move swiftly," the firm said, adding that it continues to work on the commercial pilot project at Sunworks Farm.
This is the last step before full commercialization of the Advanced Oxidation System (AOS) as well as wrapping up its storm water demonstration pilot.
Elsewhere, the group's environmental engineering division in Tennessee has a backlog of commercial opportunities. Existing clients include the seven United States Air Force (USAF) bases, its waste to energy conversion plant project on the East coast, and its magnesium extraction project in Northern California.
Meanwhile, Odor-No-More air quality control division continues installations of misting systems at waste facilities, continues to make sales calls, and continues to manufacture, sell and ship product to its customers.
Odor-No-More’s joint venture in South Korea is proceeding as planned and expects to begin operations in the next 30 days.
A priority concern
Despite the coronavirus focus, PFAS (poly and perfluoroalkyl substances) water contamination is still a priority concern for municipalities all over the US, the firm said.
"We are cautiously optimistic about our EPA Phase II grant application to accelerate the PFAS development work to go commercial and expect to hear from the EPA soon," said Calvert.
"Despite the current market challenges presented by the COVID-19 outbreak, BioLargo continues to forge ahead. Assuming adequate financing and continued investor support to complement the company’s existing financing facility through Lincoln Park Capital, BioLargo stands poised to not only survive the crisis, but emerge strong and ready for growth as its technologies find adoption through partnerships around the world and as growth capital becomes accessible," he added.
The firm also unveiled a raft of measures it was adopting to prevent the spread of the virus, including requiring that any employee who develops cold, or flu-like symptoms stay at home and quarantine for 14 days, while managers are adopting highly flexible sick leave policies to accommodate such practices.
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