Oh, there we go, I think. All right. Thank you for coming in, Wes Bolsen, CEO at CitroTech. Appreciate the chance to visit with you today. I'm going to go through the slides pretty quick, because I'd rather actually talk to you than talk to slides. To be able to get the story, obviously, Safe Harbor, put up those will, may, might, recognizing that. My background we'll get into as I go through the slides, but tell you a little bit more about how I come in. I came back, I've been in the industry, I built one of the leading companies, but I came back in because of this story. I was at Perimeter Solutions, helped lead global wildfire prevention and protection, as Perimeter went public for $2 billion, in a SPAC-like offering. EverArc Holdings came in, took it out from SK Capital.
I was with Perimeter when it was about a $2 billion, now $5 billion, on the leadership team. CitroTech uplisted from over-the-counter to New York Stock Exchange, December of last year. I think it hasn't been seen before that there's now two companies public on New York Stock Exchange, kind of leading up this industry. I obviously plan to grow CitroTech into something extremely special, but it's because of the product. I know the industry. I know what works and what does not work to prevent fires and protect assets. I've never seen a product that is able to both have an EPA Safer Choice recognition. The EPA has allowed fire retardants, the red stuff coming out of the sky, but they've never said every single ingredient in this is drinkable. It is literally neutralized citric acid. It's in your Coca-Cola.
Not that Coca-Cola's that great, but, first and only EPA Safer Choice recognized product. Huge growing market. We need to be preventing more fires. It's not a market going away. It is growing and expanding. We need to be preventing more, protecting more assets. My goal, move as many million gallons of product as we can. High volume, recurring, predictable, annual chemical sales. Everything else, we can get partnerships to apply it. We can get wood products companies we're going to talk about. We have the patents, we have the IP, validated, proven. Now get the gallons into the market. A leadership team. The team has changed out, with me coming in, bringing in, the Chief Operating Officer as well. If I get skipped, but we'll go quick.
Obviously revenues are small because we are right at the cusp of a development stage company that the technology has proven out. The partnerships that we've formed, is taking off. Don't even want to really speak to this, but these are the numbers that exist today. Obviously, the investors that I think are going to be behind CitroTech are ones that see the tremendous opportunity that we've formed up as the only Safer Choice validated product in the fire industry. The fires that we've proven, actually around homeless encampments and things in San Diego we'll talk about. I think what everyone has missed is the power of the joint venture that was just formed about 30 days ago with Hexion Corporation. 150-year-old company. Their customers are every single one of the global largest engineered wood products companies, Weyerhaeuser, Boise Cascade, Georgia-Pacific, Louisiana-Pacific, West Fraser.
They are already in with every single one of them. They said, "CitroTech is the leading technology and the best technology we have ever seen. There is nothing like it to make Class A fire-rated lumber." That alone says we're going to disrupt pressure-treated lumber. Pressure-impregnated lumber is going to be disrupted by CitroTech. There is $1 billion. Let's do that, and I have the partner to do it. You don't have to even believe that CitroTech is going to do it. What you have to believe is what has already been believed, which is we have the technology that can make Class A fire-rated lumber and building materials, and now we just added everything for go-to-market, sales, supply chain, distribution, customers, delivery, for that to get the annual recurring high margin predictable revenues.
You look at the company, our timeline, not going to go through much of that, but the company has really changed out over the last 12 months, to be in the place to deliver now. Everything from the uplisting to this Hexion JV that I just called out, is all part of our plan where we're going. I don't like talking about myself, I had some people create some slides for me that believe I'm going to be able to work on delivering this, building and selling LaderaTech, founded that out of Stanford and MIT. Patents, built up LaderaTech, sold it to Perimeter, I'm now here to be able to deliver and execute on what we're doing at Perimeter or what we're doing at CitroTech.
Fires are no longer fire season. We're now delivering a product that is able to help prevent ignitions, protect assets. The lumber, building materials, wood products. We're bringing a safer product, replacing borates and pressure impregnation, which is very expensive in wood, where we're looking at phosphates. All the other retardants, the red stuff is mined phosphates. Comes out of the legacy fertilizer industry, the Monsanto side. Why has it been around for 70 years? Because there's very powerful companies that want fertilizers to be dumped out of airplanes to suppress fires. Now we have new innovation coming in, non-toxic, better for aquatic life, better for the environment, naturally breaks down, annual predictable. It breaks down every year. You're going to reapply under the power lines, along the railroad lines, around the homeless encampment. You're going to have that on the roadsides.
80% of ignitions start adjacent to a roadside in Southern California anyway, cars pull over and overheat, chains, catalytic converters, et cetera. That bucket is what CitroTech looks like, and you can come by Booth 326. I've got a bottle of it. It i s unthinkable that you have product that can spray like water, can spray out of any sprayer anywhere. Aerial retardants can only be dropped when the wind isn't too high, the smoke isn't up, sunrise to sunset, when the winds aren't too high. We can spray a ground-based prevention or lay a fire line to say, "We're going to protect this community." It would've been very valuable in many of the California fires. You're looking at it soaks into the cellulosic fibers. It's not coating something.
It forms a crystalline structure that, in the presence of heat and the presence of fire, forms a carbon barrier, a carbonate barrier, think char, that prevents it from burning past. It dries, and it is effective until it is physically washed off. Put it on at the start of drought season. Put it on during the public safety power shutoffs. You're saying, "Hey, by Friday, there's really bad winds coming in." Apply it on Monday. Have a system on your home that sprays it out around, a sprinkler system, and then you evacuate safely. Staying to protect your home or having water, there's another company that just puts a sprinkler system on, pulling from water.
That is going to be replaced by saying why would we not be spraying CitroTech out as a long-term retardant that protects all that vegetation from being able to be non-flammable or render it non-flammable? Lumber, lumber. If you only left here going, "CitroTech is going to change Class A fire-rated lumber and building materials," period. That is all you'd have to believe to say this is a huge opportunity for the CITR company. That's before you even get to what my background is and the playbook I'm going to run on ground-based retardants, prevention, protection, utilities. You say, "Hey, we can't start fire." Our liability, you saw PG&E, it bankrupted the largest utility in the U.S. from fire, the Paradise Fire. You say, "Okay, we could be spraying around the pole and up the pole." Fire's coming at it.
We're going to prevent fire from going out. A flaming bird and squirrel. They're actually pretty common. Mylar balloons, sparks, arcs, embers blowing off from the poles. Let's not start fire, number 1, but let's protect our assets, number 2. That's your fire departments, your states, your utilities, your railroads, your counties saying, "Hey, we're having way too many homeless encampments starting fires." That's what we did in San Diego and then along Alvarado Hills and Estates. Finally, that system. Why would you not put something the size of an air conditioner unit, 100-gallon tank, 200-gallon tank, plus a sprinkler system? Okay, that could also have recurring revenue, software revenue. It says let's start bringing artificial intelligence predictive capabilities. Let's start having the app, which we have, that you're able to remotely activate that system.
That is not going to move as many gallons, so it's my third of the three by far. First, annual, predictable, high margin, recurring, built-in, factory-applied lumber. Absolutely number 1. Number 2, harder, but makes a bigger difference in saving communities and saving lives. We need to be using that, and that's where prevention, protection is going to come into play. We talk about this Class A lumber. These are actually both 2x4s and 2x6s. You no longer are weakening the wood. By definition, if you pressure-impregnate lumber, you're incising it or you're cutting into the wood, and you're either vacuuming or pressure-treating into the lumber versus that stack. Those are 2x4s and truss materials that are being made by literally dipping a 2x4 in a tank. We colored it red, so they could see it. It was just food coloring.
Then it dries, and that is stamped as Class A fire-rated lumber. I just shifted the entire industry from shipping off a stack, a unit, for two months, having it pressure treated. Hopefully, it gets back for the largest home builders in America to have pressure-treated, fire retardant treated wood, FRTW, fire retardant treated wood. We just shifted the entire way that you're going to have fire retardant treated wood with what we're doing. Even bigger is it gets into the individual strands. You're going to start manufacturing panels or strands from the way that they're made. I can now make OSB board, plywood, particleboard, Class A fire-rated lumber. That is a fundamental shift in how we build commercial housing. It's UL GREENGUARD Gold, which means the smoke and the vapors coming off of it, we've seen as low as 0, which is unheard of.
In multifamily housing, commercial housing, it's mandatory to have the Class A fire-rated lumber and building materials. If you go towards individual homes, that's where it's going to start coming in for external siding, WUI, the wildland-urban interface, and code compliant. You're looking at all the reasons that this is going to be a huge deal. I'm not going to spend much time talking about CitroShield predictive AI capabilities. We put out a press release a couple of weeks ago, 13 patents around the GPS tracking mapping of fire retardants. Insurance is going to mandate that. We need to know the product was applied. Where is it protecting? If you're looking at counties and communities, you want to know where have you tracked, where are the highest risk? Where should we be preventatively, proactively applying this product?
Where are the red areas that if there was a fire, this is going to cause a major problem? Department of War, t hey blow up a lot of things. The Marine camp base at Camp Pendleton just had a big fire about 3 miles from our office. We went out and just started spraying houses around Camp Pendleton to protect them. Active munition zones. We'll paint you a big target, They can just hit a big target. It'll be great. The Marines don't have to blow up as much stuff. There's a lot of ways that we can get that out there. Systems is just another way to deploy this. Again, anybody that thinks that there's water-based systems that are getting a lot of attention, "Hey, let's put a sprinkler system on your home." Wind blowing 80 mile an hour the opposite direction means it's useless.
Spray it three days ahead of time. CitroTech getting out and getting on the vegetation, water dries within a matter of minutes. Then it's, again, useless. They keep just running water, pulling water. We're going to have external partners that are going out selling or designed into the largest home builders. Think the D.R. Hortons, KB Homes, Lennar, Meritage, Beazer, the largest home builders will start saying, "Let's just build this in. It's plumbing. It'll come out the roof. We'll put a CitroTech system and a control system out the back." Where we are today. All the work that has been done, the tremendous work for CitroTech to get where it is today is on the patents, the trademarks, the certifications, the ASTM, and all of the other pieces. We've laid the groundwork for where we're going.
The Hexion joint venture, the 50/50 JV is a huge thing. The one thing I want to call out is they wouldn't have put this in if it wasn't important to them. It was very important to them. That second bullet from the bottom, year five, right of first, they get a call option to buy our half of the joint venture. That was very on purpose because of the value that they believe this will create. Hopefully, many hundreds of millions of dollars worth of value. That checkmark alone is worth multiples, I believe, of what the company is today. Just this joint venture, just this is where you can hear and see the excitement in me. It de-risked the whole story. 150-year-old company, privately owned by American Securities, doing billions of dollars in revenue. What we brought was the IP.
That's how strong the intellectual property is. They bring all the sales force, manufacturing, distribution, supply chain, operations. I didn't grow my sales force at all to be able to deliver on a massive opportunity. I don't have to have manufacturing operations or any of the logistics there. You then look at things like how easy it is to spray. This was in San Diego. They're called totes. They're 270 gallons. Just drop a couple totes of CitroTech on the back, drive this along, spray along roadside, spray around encampments. It's a hose reel you just pull out. San Diego Fire Marshal Tony Tosco was saying, "Look, this is a big opportunity for us to continue doing this." I don't want to run out of time, let me get my phone.
We're going to continue to expand that across other fire departments, other counties, other agencies, et cetera. You're going to go after wood products and the commercial lumber partnerships, the private and federal channel. You're going after the U.S. Department of Agriculture, Department of Interior, Department of War, CAL FIRE. These are all the major targets. Transportation, California Department of Transportation should be a natural large customer in the future to prevent fires along roadsides. Then you're going to get designed in, built in new contractors, new home builders, all going after these. I don't anticipate revenue's going to be slowly just increasing. It's going to be step change. Just pick one. I'm picking one randomly. Weyerhaeuser says, "We're going to open this facility, and we're going to start using CitroTech to make OSB board fire retardant." That's a long-term decision.
You're designed in, you're manufacturing product, it's a step change in the revenue. All I need to do is, I hope and anticipate by the end of the year that the HexaTech joint venture will be able to tell the story. I obviously don't have something to say today or publicly, or I'm not saying something, it would only make sense that by the end of the year, we would have a customer that we could tell the world about. That changes everything. I would hope to have a couple customers, a couple of the largest engineered wood products companies in the world to deliver that. We're going to continue pressing the insurance side, the partner application network, the people coming in. We just announced All Risk Shield, one of the most respected application companies we announced last week.
They looked at all the fire retardant products that exist in the industry and said, "CitroTech is the only one that's safe for our people, safe for the environment, and we're going to move that forward." From a treated wood side, we're going to change up the pressure impregnation, and that's very disruptive if you're a pressure treater, because of the simplicity of what we're going to do. It actually strengthens the wood. We'll just say it doesn't weaken it because I don't want to have to prove exactly on each piece of wood how much stronger it is. By definition, you didn't incise it, impregnate it, and weaken the wood. On the retardant side, the first and only EPA Safer Choice-recognized product. That's very difficult.
Every single ingredient must be listed, must be generally recognized as safe, must be able to break down in the environment. That's why it's that hard. If we didn't already have the product, it's not like somebody's just going to invent something real quick that is very effective and safe for the environment and can get through all the hurdles that it takes. The home systems, you're going to use us versus water sprinklers. Big market, $3 billion-$4 billion. It's going to come a lot through the first two in the lumber and the wildland fire side. If you say something like 20,000 linear miles, a linear mile could be under power lines, along roadsides, a fire break put in. That's a very small number of miles of barrier that could be put in place.
You're looking at something like in our estimate, if you just multiply the numbers, hey, I think there could be more retardant annually, predictably recurring, put out by far than there is hoping we could dump a bunch out of an airplane at the right times to suppress. That's about a $500 million market, round number, today just for suppression. I think we can create that, and honestly, the more fires that you prevent, the less suppression you have to do. That's a little bit disruptive. Wood, and then every home that's in the wildland-urban interface having it. Great team. I'll call out just Andrew Hotsko, my right-hand Chief Operating Officer. Andrew is Naval Academy, United States Marine Corps, brings discipline, things that the company desperately needs, is to operate the company well.
A strong CFO and in his own right, a CEO, that is my global head of business development, partnerships, and artificial intelligence, bringing in from his background. Strategy, continue to sell lots and lots of gallons, drive it through the markets, through the joint venture into the firefighting community. We can talk numbers, what we've got out there. I don't expect you to read all those and I'm not going to read them to you. Burning about $1.5 million a quarter, round number, $500,000 a month. A little more in the first quarter from our earnings because it costs just to get your 10-K and all the audit and all the pieces and first quarter's expensive. But we're trying to run as lean as possible.
If we had to get some additional money in before revenues spike, hopefully, we do something strategic, opportunistic just to put a little bit of cash on, but won't have an issue with that. We've got good technology, proven business model, tailwinds are behind us, a lot of growth and upside, and a team to deliver on it. I'm excited. I'm here because of this that we can deliver on. Look forward to some questions. Look forward to talking. Got one up.
This is the thing. Why are you guys being a public company?
Yeah. We're a public company. Some people could say we should be, some people say you shouldn't, but we are. We were one of only four companies uplisted from OTC to the New York Stock Exchange last year. I think that was a tremendous vote of confidence in the company we have to be a NYSE American-listed company. I think, if we do something in the future of a nice shelf filing, growth, I love being able to have growth capital. There's a lot of ways to do growth capital. Obviously I want to have a wonderful shareholder growth and value. We are where we are as a public company. Now what my best answer is, I want to grow shareholder value multiples. Do multi-folds. A public company investor with VC-like returns.
Did you guys raise money or did you?
No. OTC, we were a shell. It got put up under a shell initially, funded by, you can look at our largest shareholders, BoltRock. Craig Huff is an unbelievable investor out of Reservoir Capital. Ted Ralston is a phenomenal chairman of the board currently. That is, they were able to fund this, we didn't have to do a lot of VC money, because it didn't take that much to get where we are. If I could do it again, no, I wouldn't take VC money and dilute that out. I think we're a great public company, that are going to have exceptional returns to our investors. Other. Yeah.
How much is it going to cost in total? What about insurance for a free program?
Two things. Additional cost and that it would cost to a home, and insurance. Insurance is a carrot and a stick. The carrot is we'll drop your premiums, we'll lower your deductibles. We love that you're putting this in to help reduce risk. That's a carrot. The stick, which is much more likely, "By the way, if you don't do this, we're no longer going to insure you. You have a non-renewal. Congratulations. Your $7 million home in Malibu is now self-insured." I would say, it can be as little as a few hundred dollars, like a lawn and garden treatment, to $10,000 or so, $50,000. Systems can go anywhere from $30,000-$40,000 probably up to $300 million on a multimillion-dollar estate. It varies. It's about what vegetation you need to cover and go from there. Happy to visit more on insurance and why they're adopting.
30 seconds. I'll go rapid question and then Yep. Yeah. 30 granted patents, another 54 filed and pending. Strong, strong moat around the technology. Citric acid comes out of grain, fermented grain. Glucose, fermented to citric acid, citric acid neutralized with potassium. The primary is potassium citrate. Tripotassium citrate to be exactly, but potassium citrate. We can talk more chemistry. Super easy to make, doesn't have to be mined. We're not running out of number two yellow corn in America. Thank you guys. Appreciate it. Look forward to visiting with you more on CitroTech.