BioLargo Inc (OTCQB:BLGO) revealed Monday that its engineering subsidiary has been awarded a subcontract to provide air quality environmental engineering services to five US Air Force bases in Texas and Arizona.
The Westminster, California-based company said its subsidiary BioLargo Engineering, Science & Technologies (BLEST), has inked “teaming agreements” with Bhate Environmental Associates Inc, who is the prime contractor. Monday's contract win has materialized from the ongoing partnership.
Investors cheered the contract win, sending shares in BioLargo up 8.6% to $0.39.
In keeping with the teaming arrangement, the companies are preparing bids for submission to the US General Services Administration (GSA) to provide key environmental services on air force bases throughout the country.
Bhate has eassentially assembled a “multi-disciplined team” of five companies, including BLEST, to provide services to the US Air Force. BioLargo said the engineering combine has the expertise to field fence-to-fence environmental engineering services projects, which focus on hazardous waste, hazardous materials, air quality, water quality, and natural resources.
Bhate scores $12 million contract
The company said the value of the contract awarded to Bhate exceeds $12 million over a five-year term, and the subcontractors will receive a portion of the contarct with the first year payment guaranteed.
In addition to the awarded contract, BLEST is working closely with Bhate to pursue similar environmental projects for the US Air Force which are in various stages of bidding and consideration.
“Our team has significant experience and expertise in this particular area of practice, and we are proud to serve our country and the US Air Force,” said Randall Moore, president of BioLargo Engineering. “We look forward to working hand-in-hand with Bhate on this first contract as well as future successful bids.”
BioLargo incubates disruptive technologies and has three platforms that it has built over the last 10 years. It has invested more than $22 million into clean air, clean water and advanced health care.
“These government contracts validate the wisdom of adding Randy and his team of engineering professionals to the BioLargo family of companies,” said BioLargo CEO Dennis Calvert. “Our investments in technologies and talent continue to pay off.”
Calvert earlier told Proactive Investors in an interview that the company had some 23 PhDs and professional engineers to make it "a truly exceptional group.”
“We focus on technologies that are disruptors — not incremental but things that are going to change the game,” said Calvert.
He explained that the direction of the company is both "purposeful" and "disruptive," and that it narrows the focus to things that are high impact, achievable and have a purpose.
The company is now enjoying commercial success, with its industrial odor product, Odor-No-More. The product eliminates odor-causing compounds and VOCs and is attracting companies in the solid waste handling and wastewater industries.
BioLargo Engineering is a full-service environmental engineering service provider, technology innovator, and makes patented water and air treatment products.
Contact Uttara Choudhury at [email protected]