CitroTech outlines fire product growth after NYSE American uplist
Iain Hoey
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Fire growth and 2025 results
CitroTech has reported revenue growth in 2025, leadership changes, an NYSE American uplist and further commercial plans for its fire inhibition products and CitroSafe systems.
In a letter to shareholders issued on 30 March, Wesley J. Bolsen, Chief Executive Officer of CitroTech, outlined the company’s financial performance and corporate developments.
Revenue reached $2.4 million in 2025, up from $808,000 in 2024.
The company also completed $8.1 million in Series C financing through preferred equity and convertible instruments.
CitroTech’s common stock uplisted to the NYSE American in December 2025.
Bolsen said Andrew Hotsko joined as Chief Operating Officer in July 2025 and that he joined as Chief Executive Officer in October 2025.
He also confirmed that Craig Huff of Boltrock Holdings and Lorenzo Calinawan from Chemlink Partners joined the Board of Directors.
In early 2026, the company added a Vice President of Business Development and expanded its research and development team.
Fire products and 2026 commercial plans
Bolsen said CitroTech holds 37 granted patents and 45 filed or pending applications covering chemistry, application methods and fire inhibition technologies.
He added that the company remained the first and only fire inhibitor to receive the U.S. Environmental Protection Agency’s Safer Choice designation and that it has maintained UL GREENGUARD Gold certification.
The letter stated that CitroTech products saw adoption by fire departments, particularly across California.
Its wood treatment products also moved toward commercialisation for the fire-retardant-treated lumber market.
In early 2026, the company began partnering with lumber and building materials companies using CitroTech formulations to produce Class A fire rated wood products.
Bolsen said CitroTech continued deploying CitroSafe Systems for residential and commercial properties and linked further deployment to proof-of-concept work with a major broker.
Fire outlook linked to wildfire demand
Bolsen said CitroTech’s 2026 focus is on scaling operations, expanding commercial channels and building partnerships across the lumber and building materials industry.
He added that CitroSafe Systems deployment is expected to move beyond proof-of-concept, including deeper integration with insurance solutions.
CitroTech expects revenue growth to accelerate in 2026 as wildfire season intensifies and commercial channels expand.
The letter also cited independent research projecting the global fire-retardant market will reach $13.6 billion by 2034.
Bolsen said the company plans to report its first quarter 2026 results during its first formal earnings call in May.