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."
Investor Contact:
Yvonne L.
Zappulla
Managing Director
Grannus Financial Advisors, Inc.
212-681-4108
Yvonne@GrannusFinancial.com
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.