Feb. 13, 2013
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 that it has received notification of an award to upgrade an outflow pipe discharging into a beach located on the shores of the Great Lakes using AbTech's EPA-registered Smart Sponge® Plus technology.
The beach has been plagued by high levels of bacteria that can cause gastro-intestinal problems, skin infections and swimmers' ear. AbTech's Smart Sponge® Plus, an antimicrobial product registered with the EPA (EPA Registration #86256-1) for outdoor use, will be used to filter the storm water drainage emanating from lands that border the beach area thus reducing bacteria concentrations in the discharged water. Wild animal waste and contamination from sewers leading into the area have been identified as significant contributors of E. coli and Enterococcus bacterium to the swimming area.
, CEO of AbTech commented, "AbTech's Smart Sponge® is highly effective at reducing targeted bacteria from running water. In this project, we will focus on the storm water detention vault systems on the principle storm water outflow pipes to capture the flow of bacteria, allowing treated water to continue into the beach area." Mr. Rink added, "Our treatment vaults are uniquely engineered water treatment solutions for incorporation into storm water, combined sewer overflow and other infrastructures. These systems allow for easy maintenance and continued upgrading as new advanced materials become available. The project, which was in part funded by the EPA, is expected to begin in the current quarter. Revenues to AbTech will total approximately
. AbTech anticipates 20% media replacement every 12 months."
In addition, the Company provided an update on its process with the development of a public-private partnership with the
City of Monrovia
, first announced
, 2012. AbTech's engineering firm subsidiary – AEWS Engineering – is currently completing the assessment of the city's infrastructure and regulatory requirements, as well as developing recommendations as to program and funding structure. With substantial new regulatory requirements in Los Angeles County, there is significant need to deploy storm water Best Management Practices but funding is often one of the primary challenges that municipalities face. With regard to the Letter of Intent AbTech signed with the
City of Monrovia
Mary Ann Lutz
, Mayor of
, member of the U.S. Conference of Mayors' Water Council and the most recent chair of the Los Angeles Regional Water Quality Control Board, stated that "
understands the challenges ahead regarding our commitment to the environment and clean water. The new storm water requirements are a necessary, unfunded mandate that will be extremely costly to our community. It is incumbent upon us to evaluate every avenue possible toward achieving clean water and do so at reasonable costs. This letter of intent with AbTech Industries, a recognized leader in storm water solutions, allows us to investigate some new options towards meeting our goals."
Yvonne L. Zappulla
Managing DirectorGrannus Financial Advisors, Inc.212-681-4108