SCOTTSDALE, Ariz., Dec. 19, 2012 /PRNewswire/ -- AbTech Holdings, Inc. (OTC QB: ABHD) ("AbTech" or the "Company"), a developer and manufacturer of patented innovative environmental technologies addressing issues of water pollution and contamination, today announced that it has entered into a distribution agreement with SPEL Environmental ("SPEL"), a distributor, designer and manufacturer of stormwater quality improvement devices, and has received its first order through the new relationship with a second order being processed that has already been awarded to SPEL for Smart Sponge® in an oil and gas application.
SPEL, headquartered near Sidney, Australia, has 40 years of experience in stormwater treatment. The company operates nine offices throughout Australia and New Zealand and will serve as AbTech's exclusive distributor of Smart Sponge® for stormwater treatment and non-exclusive distributor for other applications in the industrial and oil & gas market segments within Australia and New Zealand. SPEL and AbTech are also working on incorporating Smart Sponge® into two of SPEL's proprietary treatment devices.
Commenting on the development, Bjornulf White, Executive Vice President of Business Development, said, "We believe the Australian storm water market represents significant value and growth potential for AbTech. Given Australia's high focus on water re-use, these two international markets provide opportunities to showcase new applications as we implement our international expansion plans applying a self-sustaining model." White continued, "Marquee relationships, such as SPEL, are pivotal to our business development strategy. We look forward to working with such a highly reputable and capable enterprise as SPEL that can bring our technologies to the Australian market."
Australia's stormwater management market has experienced significant growth since the Australian government announced its $12.9 billion, 10-year Water for the Future plan and an increasing focus on storm water treatment. The total annual market for storm water treatment in Australia currently is estimated at approximately $300 million.
Andy Hornbuckle of SPEL Environmental expressed enthusiasm about the relationship, "Due to AbTech's profile as an innovative environmental leader, we are very proud to be associated with an organization like AbTech. SPEL is very well positioned to represent all of the AbTech products because we are largely stormwater focused, but also armed with hydrocarbon solutions for the oil & gas industry. We expect that the results will forge a long term mutually beneficial relationship between AbTech and SPEL."
Glenn Rink, AbTech's CEO, added, "We are fortunate to partner with such a well established stormwater treatment group in a fast developing market. Australia offers a substantial addressable market for our technologies. We have already begun shipment under this relationship and look forward to its growing impact on our revenues."
Yvonne L. Zappulla
Grannus Financial Advisors, Inc.
ABOUT ABTECH HOLDINGS, INC. (OTCBB: ABHD) AND ABTECH INDUSTRIES, INC.
AbTech Industries, Inc. (a subsidiary of AbTech Holdings Inc.) is a full-service environmental technologies and engineering firm dedicated to providing innovative solutions to communities, industry and governments addressing issues of water pollution and contamination. Its products are based on polymer technologies capable of removing hydrocarbons, sediment and other foreign elements in stormwater runoff (ponds, lakes and marinas), flowing water (curbside drains, pipe outflows, rivers and oceans), and industrial process and wastewater. AbTech's offerings include the ground-breaking new antimicrobial technology called Smart Sponge® Plus. This technology is effective in reducing coliform bacteria found in stormwater, industrial wastewater, and municipal wastewater. Smart Sponge® Plus is registered with the Environmental Protection Agency (Registration #86256-1). AbTech's teams of water treatment technology experts, civil and environmental engineers, and field operations specialists develop solutions to improve the quality of our limited water resources. AEWS Engineering (a subsidiary of AbTech Holdings, Inc.), is an independent engineering civil and environmental engineering firm partnered with top research and engineering universities. By focusing on bringing new engineering and technology innovation to the water infrastructure sector, AEWS is positioned to be at the forefront of stormwater Best Management Practices development and to deliver the latest in design excellence to its customers. For more information please visit www.abtechindustries.com. More information on AEWS Engineering can be found at www.aewsengineering.com.
This news release contains "forward-looking statements" which are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE AbTech Holdings, Inc.