AbTech, which manufactures products to fully capture and absorb oil, trash, sediments and other pollutants from stormwater run-off, will use BioShield's anti-microbial technology with its patented Smart Sponge(R) to continue to gain market share in the more than $800 million projected 2010 market. Both products offer superior technology that prevents leaching of contaminants into surface water and groundwater supplies, setting them apart from traditional sorbents.
"This new product will offer stormwater professionals and industrial entities an opportunity they've never had before -- to eliminate dangerous microorganisms contaminating stormwater, such as Staphylococcus aureus, E.coli and Fecal coliforms before they can reach streams, rivers and other waterways," Glenn Rink, Founder and Chairman of AbTech Industries, said.
"This product represents another step toward our goal of ensuring cleaner ground water supplies and enhancing the well being and safety of our communities and environment."
Under the agreement, BioShield Technology will be combined with AbTech's Smart Sponge(R) absorbent polymers. The anti-microbial filter system will be used in AbTech's catch basins insert, Ultra Urban Filter(R) and other products that capture pollutants in stormwater drain systems, marinas and industrial sites.
"Due to its ability to remove fungi, algae, mildew and mold from water, this new product offers a solution no other product on the market can-odor control," said Rodolfo Manzone, Executive Vice President and Chief Technology Officer of AbTech Industries. "Our product is cost-effective to install and maintain, exhibits long-lasting anti-microbial activity with no side effects such as a release of chemicals into the water system and maintains all the oil absorption characteristics that AbTech' s products are known for."
Initial laboratory and manufacturing tests proved successful, and AbTech is now conducting independent field tests. BioShield projects revenue from this agreement to top $2 million over the next five years, while AbTech anticipates the deal will solidify its place as the leading innovator in stormwater treatment.
Dr. Marcelo D. Villahoz, Vice President of BioShield stated, "Our business development partnership with AbTech Industries is the result of discussions that began some 18 months ago between our two firms and is a small demonstration of BioShield's commitment to enhancing shareholder value by focusing on licensing-out our core technology."
"I believe BioShield has the technology, the patents and the EPA registrations that could potentially allow AbTech to become the leader in the stormwater market since we are present in the field of antimicrobials, a market of immense proportions that is clearly shown by the presence of antimicrobials in one form or another in different industries," Dr. Villahoz added. "In addition, I think our technology is the most aptly suited to address growing public health and environmental concerns."