BioLargo Enters into Marketing Agreement for Leading Iodine Disinfection Technology
IRVINE, Calif.--(BUSINESS WIRE)--BioLargo, Inc. (OTCBB: BLGO) today announced that it has entered into a marketing and representation agreement with Ioteq IP Pty, Ltd., an Australian company, and its United States affiliate Ioteq, Inc., under which BioLargo will represent and market Ioteq’s iodine-based disinfection technology, Isan®, on an exclusive basis in the United States and on a non-exclusive basis in the rest of the world. BioLargo will make monthly payments to Ioteq of $20,000 per month and receive up to a 40% royalty of all revenues received by Ioteq as a result of BioLargo’s efforts in arranging a wide range of business opportunities for Ioteq’ technology.
Commenting on the new arrangement with Ioteq, BioLargo President and CEO Dennis Calvert said, “This strategic alliance represents an opportunity for BioLargo to work closely with one of the other leaders in environmentally friendly iodine-based disinfection technology. The scientific work that Ioteq has done is complementary to and a natural fit with our own patented and patent-pending technology.”
Jared Franks, President of Ioteq, commented, “We look forward to being part of this important venture and the opportunity to leverage BioLargo’s progress in commercializing its own technology for the benefit of our technology. This is only the first step in a long, close relationship we envision with BioLargo.”
About Ioteq
Ioteq is currently expanding its commercial interests in Australia, New Zealand and Japan, offering its patented Isan system as an innovative, cost-effective and environmentally friendly disinfection and sanitation technology for agriculture, horticulture, waste water, manufacturing, and industrial and consumer applications. Isan offers an effective chlorine replacement technology for large-scale reduction in chlorine use as well as the removal of toxic chlorine by-products from the food chain.
About BioLargo, Inc.
BioLargo, Inc. is currently engaged in pre-licensing and product evaluation with strategic partners to leverage a suite of patented and patent-pending intellectual property, the BioLargo technology. The BioLargo technology harnesses and delivers nature’s best disinfectant – iodine – in a safe, efficient, environmentally sensitive and cost-effective manner. The BioLargo technology, the centerpiece of which is CupriDyne™, works by combining minerals and salts with water from any source to generate and deliver molecular iodine on demand, in controlled dosages, in order to balance efficacy of disinfectant performance with concerns about toxicity. When the BioLargo technology is incorporated in absorbent products, third-party testing has confirmed that the products also experience increased holding power and the company believes that they may also experience increased absorption. The company’s website is www.biolargo.com.
Safe Harbor Statement
The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, the company's filings and future filings with the Securities and Exchange Commission, including those set forth in the company's Annual Report on Form 10-K for the year ended December 31, 2007.
