Clean energy for the new economy will need to be stored efficiently and safely as the world moves toward lessening humanity's carbon footprint on the planet.
Most attention has been focused on the battery metal lithium. The demand for it is expected to more than triple by 2030.
But lithium batteries can catch fire when damaged or improperly used. They also function best when not fully charged or discharged.
Earlier this year, clean tech company BioLargo Inc. (BLGO:OTCQB) acquired sodium-sulfur battery technology it said is an economic solution to those problems and secured the initial seed capital to start subsidiary BioLargo Energy Technologies Inc.
"You can never use 100% of (a lithium battery's) storage capacity," BioLargo President and Chief Executive Officer Dennis Calvert told Streetwise Reports. "And if you do, it degrades faster, which means less useful life. So, your total cost of operation is high."
Western countries are also trying to shift dependence away from South America and China, which has less than a quarter of the world's lithium resources but controls about two-thirds of the world's lithium processing and refining capacity, Rystad Energy reported.
"You need a solution that gets away from all of those performance (issues) and is a cost-effective, safe domestic supply," Calvert said.
Sodium-sulfur batteries offer four times the energy capacity and are less toxic, making them easier to recycle and more economical to produce, according to Interesting Engineering.
"When the sun isn't shining and the breeze isn't blowing, we need high-quality (energy) storage solutions that don't cost the Earth and are easily accessible on a local or regional level," said researcher Dr. Shenlong Zhao of the University of Sydney.
Calvert said BioLargo plans to target long-duration energy storage with the technology "to balance the ebb and flow of peak demand on the grid."
"The peak demand is going to escalate for the next 20 years," he said. "There's no way the market can keep up. So, what's missing is batteries that can get away from some of the current problems in the market," like safety and cost.
The Catalyst: Battery Storage 'Pivotal' to Reducing Carbon
Battery storage will play a "pivotal" role reducing carbon footprints globally, according to Energy5.
"As the demand for clean energy continues to rise, it is crucial to invest in research, development, and implementation of battery storage technologies," the company wrote. "Embracing such innovative solutions will not only help combat climate change, but also create a more resilient and sustainable energy infrastructure for generations to come."
A typical passenger car emits about 400 grams of carbon dioxide per mile (g/m) and 4.6 metric tons of it per year, according to the Environmental Protection Agency.
But even a long-range Hyundai Ioniq 5 all-electric vehicle causes the release of just 146 g/m of carbon dioxide per mile, the EPA said.
While electric vehicles (EVs) have no tailpipe emissions, emissions are created during the production and distribution of the vehicle's electricity. The EPA has an emissions calculator you can use to estimate specific emissions for an EV in your region.
"To realize the universal goal of net-zero emissions by 2050, the world is keenly looking at advancements in battery technology," wrote Jijo Malayil for Interesting Engineering.
Components Available at 'Home Depot'
Calvert said that in addition to large-grid energy storage, the refined sodium-sulfur technology could also be used for EV charging stations, and renewable energy production sites like solar and wind installations.
"We acquired the technology and brought the engineer and co-developer to our team, now we are in the replication process for the battery," Calvert told "The Stock Day" podcast earlier this year. "We believe we could get a 20-year battery from this with no rare earth elements, as well as incredible efficiency and a low cost of materials."
Calvert said in a video interview with Proactive Investors, "The components that make this battery, you literally can buy them all at Home Depot."
Another target market will be California, where more batteries are needed for changing utility policies, Calvert said.
"You can't put a solar panel in without a battery in California, … where solar panels are so critical," he said.
BioLargo Is Really Four Companies
BioLargo's innovations also address industrial and pet odors, treat wastewater, and control infections and infectious diseases. It really is four commercial companies: BioLargo Energy, BioLargo Equipment, ONM Environmental, and Clyra Medical Technologies, all supported by the corporate office, its engineering group, and a research and development team.
The company's approach is to invent or acquire novel technologies and develop them into products that solve problems and lead to profits.
"Our strategy is pretty basic: invent it, prove it, and partner it," Calvert said.
The company recently announced its revenues year-to-date were US$5.288 million, a 127% increase over the same period last year, largely due to its Pooph pet odor control product.
Streetwise Ownership Overview*Made by BioLargo subsidiary ONM Environmental and sold by partners at Ikigai, Pooph is finding success at Walmart stores and online at Amazon and now Chewy.com, with more than 12 major retailers now rolling out the product to their stores. Its availability is expected to go from approximately 2,000 stores as of June 30, 2023, to more than 20,000 retail stores as contracts continue to expand through the end of 2023.
Ownership and Share Structure
About 14.6% of BioLargo is owned by insiders and management, according to Yahoo Finance. They include Chief Science Officer Kenneth Code with 8.67%, CEO Calvert with 3.41%, and Director Jack Strommen with 1.5%, Reuters reported.
About 0.04% is held by the institution First American Trust, Reuters said.
The rest, about 85%, is retail.
Its market cap is US$48.25 million, with about 288 million shares outstanding and about 247 million free-floating. It trades in a 52-week range of US$0.256 and US$0.15.
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