Abtech Holdings Expands Oil & Gas Offering Across N. America: Validates Technology in Ten Shale Plays; Validates Cross-Linked Gel Frac Recycle Technology; Signs Four Teaming Agreements with Oil & Gas Services Companies
SCOTTSDALE, Ariz., April 25, 2013 /PRNewswire/ -- Abtech Holdings, Inc. (OTC QB: ABHD) ("AbTech" or the "Company"), 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, today announced teaming agreements with four water service companies to facilitate the expansion of its oil & gas water management offering. The Company also has multiple additional teaming, licensing, and distribution agreements near final stages of completion.
Through its teaming agreements, AbTech and its teaming partners will be able to offer a full range of water treatment and management capabilities to their clients. AbTech has signed teaming agreements with:
- TETRA Technologies, Inc. – a Texas-based global, diversified oil and gas services company with employees and operations on five continents covering both onshore and offshore services. TETRA was recently named Water Management Company of the Year for the Northeast Region (Marcellus and Utica) at the Oil & Gas Awards.
- Crescent Services, LLC – an Oklahoma-based water management and environmental services company with over 700 employees and locations in eight states.
- Wastewater Solutions Unlimited, LLC – a Texas-based water treatment company with over 30 years of experience covering industrial and Oil & Gas water treatments.
- Ground/Water Treatment & Technology, Inc. – a New Jersey-based company that delivers water management and treatment services with over 17 years of experience and having treated in excess of 400 Million Barrels (16 Billion Gallons) of wastewater from hundreds of project sites throughout North America.
AbTech's Oil & Gas solutions combine best-of-breed commercial technologies, innovative systems engineering, and specialty technologies such as the Smart Sponge® de-oiling technology. The Company's Smart Sponge technology is gaining worldwide recognition as an effective tool in de-oiling applications for the Oil & Gas industry, after having validated its technology on the produced waters of ten different shale plays in the United States, including the Permian, Fayetteville, Bakken, Cana Woodford, Marcellus, Eagleford, Piceance, Frenchie Draw, and Utica shale plays. AbTech was recently named Water Management Company of the Year for the Gulf Coast region at the Oil & Gas Awards and last year's Technological Innovator of the Year at the World Shale Oil & Gas Awards.
AbTech is also announced the validation and scale-up of its cross-linked gel frac recycle unit. Cross-linked gels, one of the two main hydraulic fracturing fluid streams, include various agents to increase viscosity and otherwise improve the fracturing process. AbTech is scaling up its cross-linked gel frac recycle unit to meet the daily flowrate needs of operators particularly in liquid rich basins. AbTech recently validated its ability to remove up to 99% of key cross-link agents such as boron.
AbTech's Executive Vice President of Corporate Strategy and Business Development, Bjornulf White, stated, "We believe that AbTech's proven capabilities in complex water treatment, combined with the broader oil & gas industry-specific expertise of our teaming partners, will enable us to offer the best value to our clients, including delivery and operation of cost-effective, efficient water treatment systems to operators across the country and abroad. We have expanded our offerings to include mobile trailer-based treatment systems and fixed treatment systems for nearly any treatment need. AbTech is finding significant receptivity and interest amongst operators for our systems and have developed a strong pipeline of near term opportunities."
Commenting on the new teaming relationships and AbTech's expanded oil & gas offerings, Glenn Rink, CEO of AbTech commented, "As a solutions company with unparalleled, proprietary technologies, AbTech is collaborating with experienced oil field services companies which will accelerate AbTech's entry into the oil and gas market and expand its offering to customers."
As a result of AbTech's collaborative agreements, the Company intends to broaden its marketing efforts in international markets. Glenn Rink, CEO of AbTech further commented, "The global opportunity for our uniquely engineered water treatment solutions is growing rapidly. The partners we embrace are marquee participants within their industry. They have a large existing customer base and successfully operate within a corporate culture that is focused on customer service and innovation while maintaining the intrinsic values of ethical and environmental compliance."
Mr. Rink concluded, "These strategic relationships are very significant to the Company and we look forward to building upon this very positive momentum."
Grannus Financial Advisors, Inc.
Glenn R. Rink
Chief Executive Officer
Abtech Holdings, 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.