Call it doing well by doing good, and Westminster, Calif.- based BioLargo, Inc. (OTC:BLGO) had reason to celebrate Monday morning. The full-service environmental engineering company announced that it had set new quarterly and annual revenue records for 2019 and reported on key milestones for the year.
BLGO achieved record fourth-quarter revenue of more than $560,000. For the year, the figure was more than $1.8 million. The company also retired all but $259,000 in variable priced convertible debt, raised approximately $2.6 million in convertible debt on friendly terms in summer 2019
CEO Dennis Calvert told investors “During 2019, we accomplished both commercial and technical breakthroughs in every operating unit, closing out the year by being named ‘Cleantech Company of the Year’ for Southern California by Sustain Southern California. Our award-winning technologies are validated and marching ahead to commercial adoption.”
BLGO shares towered over Friday’s close, gaining 1.5 cents, or 6.9%, to 23 cents, on volume of 89,000 shares.