BioLargo is a small cleantech company that develops and commercializes environmental and health technologies through a portfolio of subsidiaries. Rather than building large internal manufacturing or sales operations, BioLargo's model is to develop technologies internally, then take them to market through partnerships, licensing, and joint ventures — earning royalties, equity stakes, and fees rather than owning production assets. Current revenue comes from three sources: ONM Environmental, which sells CupriDyne Clean, a liquid odor-control product applied at landfills and wastewater sites under ongoing municipal contracts in Southern California; BLEST, an engineering services subsidiary based in Oak Ridge, Tennessee, that serves third-party clients including U.S. Air Force base contracts; and consumer private-label odor-control product sales, though the company's largest relationship in this area — with pet odor brand Pooph — collapsed after a payment default, leading to litigation and a search for new partners. Beyond these revenue-generating businesses, BioLargo is investing in three earlier-stage subsidiaries: a PFAS water treatment technology (the AEC) that the company claims concentrates PFAS waste far more efficiently than incumbent technologies, with a municipal installation underway in New Jersey; a liquid sodium battery technology targeting grid-scale energy storage, for which BioLargo is seeking joint venture partners to finance manufacturing; and Clyra Medical, an ~48%-owned subsidiary commercializing an FDA-cleared antimicrobial wound care product. BioLargo funds operations through equity issuances and by financing subsidiaries independently to limit parent-level dilution.