BioLargo Inc. (OTC:BLGO): Here Are Latest News & Developments
Naples, FL
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February 23, 2023 05:00 AM Eastern Standard Time
BioLargo Inc. (OTCMKTS:BLGO) is involved in a range of potentially fast-growing industries at this point in time and its footprint may continue to expand in the coming years. The company is not only involved in clean technology but also in life sciences innovations and engineering services solutions.
Some of the main product development by the company helps in addressing PFAS contamination, odor control, wastewater treatment, air quality improvement, and control of infections among others. The company’s strategy as a business is to acquire innovative technologies and then develop those into marketable products so that the commercial footprint could be expanded. BioLargo mainly focuses on licensing and partnerships for the purpose of maximum commercial impact for its products.
Earlier on in the week on February 20, the company was in the news after it announced that its subsidiary unit Clyra Medical Technologies Inc had managed to add two new directors to its board of directors. The two new members added to the board are Linda Park and Nicholas Valeriani, both of whom are veterans of the medical industry. Valeriani’s experience in the medical devices industry spans many decades and he has spent as many as 34 years as an executive at a behemoth like Johnson & Johnson.
At Johnson & Johnson, Valeriani had been a highly influential executive and led many initiatives, and had also been a member of the company’s executive committee. At this point in time, he is a member of the board of four other companies, namely, Sugarlign Inc, Edwards Lifesciences, AgNovos Biosciences, and SPR Therapeutics. Valeriani holds a degree in Industrial Engineering and also an MBA from Rutgers University.
The other new appointee Linda Park is also a seasoned executive and a legal professional who has provided guidance to a number of publicly listed companies throughout her career. She holds extensive executive and corporate board experience spanning more than two decades. She is currently the Senior Vice President, Corporate Secretary, and Associate General Counsel at Edwards Lifesciences.
However, that is not all. Park also commands considerable experience in providing counsel to banking clients with regard to matters of corporate governance, securities, capital markets, financing, and mergers and acquisitions. She holds a bachelor’s degree from John Hopkins University and a degree in law from Duke University School of Law.
Earlier on in the year on January 9, 2023, the company announced its preliminary financial results for the 2022 financial year and the results were resoundingly strong. BioLargo announced that its top-line revenues for 2022 had been more than $5.75 million and that reflected a year-on-year rise of as much as 125% from its 2021 revenues.
It should however be noted that the figures were preliminary in nature and could change when the results are announced officially, which would happen when all the reviews and audits are finally completed. Dennis P Calvert, who is the Chief Executive Officer of the company, noted that the boost in top-line revenues was a reflection of the pace at which BioLargo had expanded its sustainable technology and products portfolio.
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Mark McKelvie
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