Full service environmental engineering and clean technology firm BioLargo Inc (OTCMKTS:BLGO) was in focus on Wednesday after it announced that it had been successful in completing the acquisition of proprietary sodium-sulphur battery technology. It was a major new announcement from the company considering the fact that the acquisition could produce considerable long term benefits.
Trading Data
On Wednesday, BLGO stock decreased 1.75% to $0.1998 with 806.04K shares, compared to volume of 279.49K shares. The stock moved within a range of $0.1955 – 0.2085 after opening trade at $0.2050.
BioLargo Acquires Rights to Sodium-Sulfur Battery Energy Storage Technology
At this point in time, BioLargo is focussed strategically on promoting such technologies which help with the challenges related to water-energy nexus. In that context, the company identified sodium-sulphur battery technology as a solution of high valuation. The technology offers a range of features that makes it distinct from the large number of battery technology solutions which are available in the market.
The company has already established a subsidiary unit named BioLargo Energy Technologies and has also secured the seed capital for the same. The business unit is going to be involved in addressing the various projects that the company would undertake in order to work on the move towards production of renewable energy amidst growing demand for electricity on a global level. The fact that the energy storage capacity is also quite high in the United States and across the world was another factor behind this strategic move.
