Cavitation Technologies Completes First Nano Reactor(R) System Sales Agreement in Brazil
14 Oct 2013
LOS ANGELES, Oct. 14, 2013 - Cavitation Technologies, Inc. ("CTi") (CVAT) (Berlin: Stuttgart: WTC) announced today that CTi's strategic business partner and licensee of the company's vegetable oil refining technology, the Desmet Ballestra Group ("Desmet"), has entered into a sales agreement with a soybean oil refinery in Brazil. The Brazilian refinery where Desmet will install CTi's Nano Neutralization(R) Reactor System processes approximately 500 tons of soybean oil daily. Desmet projects that the system installation will be completed and fully operational by June 30, 2014, the end of CTi's fiscal year 2014.
CTi anticipates approximately $350,000 in revenue from the sale to be received in the 2nd and 3rd fiscal quarters of 2014. With multiple sales in Argentina and Ecuador, this Brazilian installation marks CTi's sixth in South America. This region has enormous sales potential in edible oil processing and refining and is a major target for the company. President Igor Gorodnitsky explains, "I can't fully emphasize the importance of finalizing this installation in Brazil. In the edible oil processing and refining industry, Brazil is one of the largest markets in the world and we appreciate all that Desmet has done to complete this agreement."
Mr. Gorodnitsky added, "Brazil is also one of the largest biodiesel producing countries and a world leader in bio fuel development. With our recently patented technology on processing and producing biodiesel, CTi is continuously on the lookout for additional new opportunities to implement our systems across these sectors. Brazil provides enormous potential for us moving forward."
Founded in 2007, the company designs and manufactures state-of-the-art, flow-through, robust devices and systems and develops processing technologies for use in edible oil refining, renewable fuel production, expeditious petroleum upgrading, algal oil extraction, alcoholic beverage enhancement and water treatment. As an add-on to existing neutralization systems, the company's patented NanoReactor(TM) allows refiners to significantly reduce both processing costs and the environmental impact, while also increasing the yield. More information is available at http://www.ctinanotech.com/.
About Desmet Ballestra Group
The Desmet Ballestra Group is the world leader in the fields of engineering and supply of plants and equipment for the oils, fats, animal feed industries, detergents, surfactants and related chemical industries and the oleo-chemical and biodiesel industries. Desmet Ballestra possesses a great worldwide reputation, thanks to over 60 years of experience, a significant R&D capacity and the most extensive customer base in the industry. The company has sales and engineering offices in 15 countries. More information is available at http://www.desmetballestra.com/.
Forward Looking Statement
The foregoing press release may contain forward-looking statements, including statements regarding, among other things, about the expectation of CTI's future business. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties, certain of which are beyond the Company's control. Actual results could differ materially from these forward looking statements as a result of a variety of factors including, among others, the state of the economy, the competitive environment, and the Company's performance. In light of these risks and uncertainties there can be no assurances that the forward looking statements contained in this press release will in fact transpire or prove to be accurate.