SOURCE: Ocean Bio-Chem., Inc.

January 20, 2010 08:00 ET

Ocean Bio-Chem., Inc. Announces Letter of Intent to Form a Joint Venture Odor Star Technology LLC

FORT LAUDERDALE, FL--(Marketwire - January 20, 2010) - Ocean Bio-Chem., Inc. (NASDAQ: OBCI) announced today the signing of a Letter of Intent to form a new joint venture, Odor Star Technology LLC (OST).

Ocean Bio-Chem. President and CEO Peter Dornau commented, "The Company has signed a Letter of Intent to form a joint venture for a group of products that utilizes a unique, patented formula and delivery system to safely kill mold, mildew, bacteria and viruses. This group of new products uses a powerful, yet safe, EPA approved antimicrobial technology known as Chlorine Dioxide (CLO2). While CLO2 has been used successfully for years, the technology was not available to consumers and many industries due to the cost of generating the CLO2. Our patented delivery system allows us to precisely control the release rates of the product and develop a number of consumer and industrial products at a reasonable cost. Additional uses are as a pathogenic control to purify water (Versan™), algaecide for the elimination of noxious odors and sanitizing of solid surfaces (Avanflex™) as well as air purification (NosGUARD™) in enclosed spaces. The sales potential of these products are largely due to the applicability to an extremely broad range of industries, from marine to household, industrial, medical, hospitality, food preparation, farm and more. This group of products brings the ability to disinfect homes and eliminate mold issues and smells to health care facilities or any enclosed structure from odor and pathogenic contamination. The product application is especially effective for any shared public spaces.

"These products will be integrated into the existing Starbrite product line and is expected to result in increased sales and distribution to the Company's current customers in the marine market. As noted, these products also have many applications beyond those related to boats, allowing the Company to enter numerous huge new markets. The products are proven safe for use around people and animals."

Peter Dornau continued, "The new company, OST, is being formed as a 50/50 joint venture with BBL Distributing, Inc. The joint venture will consolidate all intangible intellectual property for these products to include patents, trademarks, formulas and copyrights. Additionally, EPA regulatory registrations will be transferred into the joint venture. OST will have several patents in the United States and will patent in Canada and Europe. OST will also license the technology to other companies in markets that we choose not to market in, creating additional royalty income."

Peter Dornau concluded, "Production, operations and quality control are up and running at our wholly owned subsidiary, Kinpak, Inc. We are in the final stages of finalizing agreements, due diligence and contracts. We are very excited about the potential and positive impact these products will have on the Company's future financial results."

About Ocean Bio-Chem.

Ocean Bio-Chem., Inc. manufactures and markets a full line of maintenance and care products for boats, recreational vehicles, automobiles, motorcycles and aircraft. Products are sold under the Starbrite™ name. The Company trades publicly under NASDAQ SmalICap Ticker Symbol: OBCI.

The Company's web sites are:, and

NOTE: The foregoing is news relating to Ocean Bio-Chem., Inc. (OBCI or "the Company") and contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements Involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. When used in this report, the words "anticipate," "believe," "estimate," "expect" and similar expressions as they relate to the Company or its management, including without limitation the Company's other subsidiaries, are intended to identify such forward-looking statements. The Company's actual results, performance or achievements could differ materially from the results expressed in, or implied by these forward-looking statements. For more detailed information the reader is referred to the Company's 10-K and other documents filed with the United States Securities and Exchange Commission.

Contact Information

  • For additional information contact:

    Peter Dornau
    (954) 587-6280
    President and CEO
    Ocean Bio-Chem., Inc.

    Jeff Barocas
    (954) 587-6280
    Chief Financial Officer
    Ocean Bio-Chem., Inc.