BioNeutral Group, Inc., a chemical technology-based Life Science company that plans to commercialize a novel combinational chemistry-based technology, announced this morning that it has signed a Letter of Intent (LOI) with Mr. Mold LLC, a New Jersey based mold remediation company with operations throughout the northeast. According to the terms of the agreement, Mr. Mold will begin using BioNeutralsâ€™ unique formulation designed for use with mold and mold spores.
Thomas Re, Founder and CEO of Mr. Mold LLC stated, â€œI have had the opportunity to utilize this formulation and no other product comes close to its performance. The BioNeutral formulation cuts traditional chemical contact penetration periods to under a minute allowing for much faster operation which means more competitive pricing which is critical in this market. With no residual odors and the low cost, the decision to use BioNeutral exclusively was simple. We will commence ordering immediately. With this type of performance and a multi-billion dollar market, we anticipate generating sales in excess of $20 million during the next three years.â€
â€œWe are extremely pleased to be working with mold remediation professionals like Mr. Thomas Re and his team at Mr. Mold. Tom rightfully took a strong â€œShow me your formula, in my worldâ€ attitude; we did and the rest is history,â€ commented Stephen J. Browand, President and CEO of BioNeutral Group, Inc. â€œOur latest groundbreaking Ogiene-MTM formulation was designed to instantly address the odor and stains caused by mildew, mold, and mold spores before they worsen and to help minimize the damage in the event of their return.â€
He continued, â€œOur formula is not only extremely effective, but it is also completely environmentally safe, being both quickly biodegradable and having no hazardous pollutants. We believe the mold remediation industry will quickly recognize the tremendous benefits of our latest unique formula, just like the expert professionals at Mr. Mold did.â€