Spongetech Delivery Systems Inc.(SPNG.OB) is a New York-based company focused on the design, production, marketing, and distribution of cleaning products for vehicular use. These products utilize patented technology relating to hydrophilic sponges. They can be used on autos, motorcycles, ATVs, boats, and jet skis.
Spongetech’s sponges contain hydrophilic (liquid absorbing) foam polyurethane matrices. These sponges are specifically configured with an outer contact layer and an inner matrix which is loaded with specially formulated soaps and wax. The soap and wax are locked into the sponge until it is activated by a combination of water and repeated squeezing. As a result, the wash and wax fluids stay inside the sponge and won’t run out or dry up between uses. Each sponge is expected to give the consumer 8 or more uses.
Spongetech is now also expanding its product offerings into new vertical markets, including household and personal cleaning products such as anti-bacterial and kitchen products. It has already introduced a sponge for use on pets, and a new children’s bath-foam sponge which has a no-tear, anti-bacterial formula.
Future marketing venues include medical antibacterial cleaning applications, kitchen, bath and outdoor cleaning products, as well as various food service products. The company is also selling its products overseas, with recent sales announcements from Asia and Russia, among others.
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