SOURCE: ADB International Group

December 26, 2010 17:00 ET

ADB International Group, Inc.'s (ADBI) 50% Subsidiary, Subsea Oil Technologies, Inc., Is Listed on the U.S. Government's Federal Business Opportunities Website as an Interested Vendor for Proposed Research on Safety of Oil and Gas Operations in the U.S. Outer Continental Shelf (OCS)

MIAMI, FL--(Marketwire - December 26, 2010) - ADB International Group, Inc. (PINKSHEETS: ADBI), through its 50% investment in Subsea Oil Technologies, Inc., (Subsea), has been added to the "Interested Vendors List" on the U.S. Government's Federal Business Opportunities Website in response to a newly posted Broad Agency Announcement (BAA) solicitation for research proposals associated with Deepwater Wild Well Control Technology and other topics. Furthermore, Subsea is preparing a White Paper for submission to the U.S. Department of the Interior (DOI), Bureau of Ocean Energy Management, Regulation, and Enforcement (BOEMRE) for its Technology Assessment and Research (TA&R) Program on Safety of Oil and Gas Operations in the U.S. Outer Continental Shelf (OCS). 

The BOEMRE is the federal agency responsible for overseeing the safe and environmentally responsible development of energy and mineral resources on the OCS. The BOEMRE anticipates that $7,000,000 may be available during FY 2011 for the initiation of new research addressing multiple topics, including Deepwater Wild Well Control Technology, for which Subsea has developed a significant Intellectual Property (IP) portfolio.

Subsea is offering licensing, partnership and other commercial opportunities related to its IP portfolio, which currently includes seven (7) pending U.S. Patent Applications associated with solutions for containing oil spills similar to the 2010 BP/Deepwater Horizon oil spill. 

Details regarding Subsea's IP portfolio, some of the technical features disclosed by the Patent Applications and information about the Inventor of this technology may be accessed through the "Subsidiaries" webpage of ADBI's website at http://www.adbintl.com or through http://www.subseaoiltech.com

ADB International Group, Inc. (ADBI) is a holding company that invests in strategic global corporate acquisitions in important market sectors that demonstrate significant growth potential. ADBI intends to expand into Green Energy Industries, Emerging Technologies, Financial and Business Services and other growing and awakening markets. ADBI plans to provide managerial and financial support to allow each project and subsidiary to concentrate on its specific industry and unique business plan. Partnering with strong management, investing in growth, achieving operational improvements and applying the Company's global resources are all part of ADBI's formula for building value for our investors and shareholders.

Safe Harbor Statement: Under the Private Securities Litigation Reform Act of 1995 this news release contains forward looking statements within the meaning of section 27A of the Securities Act, as amended, and Section 21E of the Securities Exchange Act, as amended. Forward looking statements often include words such as expect, hope, anticipate, believes, etc. Forward looking statements involve both known and unknown risks and uncertainties that may cause actual results and performance to differ materially from those expressed in this press release.

Contact Information

  • Contact:
    ADB International Group, Inc.
    Miami, Florida
    Steven M. Plumb
    Secretary
    305.718.3330
    info@adbintl.com