Cavitation Technologies, Inc. Reports Updates and Developments for First Half of Fiscal 2014
18 Dec 2013
LOS ANGELES, Calif., Dec. 18, 2013 - Cavitation Technologies, Inc. ("CTi") (CVAT) (Berlin & Stuttgart: WTC) is pleased to report that as the Company approaches the halfway point of its fiscal year, CTi has generated its strongest half-year results in regards to generated revenues and sales back log, while also continuing to develop new applications and technologies.
Fiscal year to date, CTi has completed sales agreements in the United States, Argentina, Brazil, and Uruguay. Furthermore, CTi is currently overseeing new applications for processing and refining vegetable oils such as canola, sunflower, and palm oil. Trial testing is currently underway in the United Kingdom, Italy and Turkey, as well as CTi's R&D facility in the United States and at the Desmet Ballestra R&D center in Brussels, Belgium.
Additionally, CTi has also been able to broaden its focus beyond edible oil processing and has made significant headway in the treatment of wastewater and "flowback water" or "produced water" created in the fracking process. The Company's Cavitation and Electrocoagulation System(TM), a patented process that efficiently removes organic, suspended solids, heavy metals, and bacteria, has displayed exciting results in trial testing for the treatment of wastewater and produced/backflow water from fracking operations. On November 15, 2013 the company's patent application, "High-Throughput Cavitation and Electrocoagulation Apparatus," was approved by the United States Patent and Trademark Office (USPTO).
The Company has also expanded its applications to the Biodiesel industry. On November 14, 2013, the Company announced that its biodiesel patent, "Process for Producing Biodiesel through Lower Molecular Weight Alcohol-Targeted Cavitation," was approved for issuance by the USPTO. In addition to its existing portfolio of patented and patent pending processes, the Company has filed another two new patent applications this year and is currently awaiting approval from the USPTO. Approval of these new patent applications will open up additional new market opportunities in industries such as bioethanol and biomass.
Igor Gorodnitsky, CTi's President, stated, "The Company has generated approximately $1.8 million in sales back log during the first six months of fiscal 2014. We've come off two very strong quarters with regards to booking new business, and from a financial standpoint, our recent surge in system sales certainly puts us in a position to generate more revenue and deliver strong results to our shareholders. Furthermore, we've been able to do all this while developing new products and applications and strengthening our relationships with our strategic partners, Desmet Ballestra and GEA Westfalia. These two internationally recognized and well-respected companies have played a significant role in helping us market our technology while also allowing us the flexibility to pursue new research and applications for our core technology."
About CTI 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 Nano-Reactor(R) 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 a 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. In May 2011, the Company signed a three-year licensing agreement with Desmet and since then Desmet has marketed and installed CTi's Nano-Reactor(TM) systems in edible vegetable oil refineries around the world. In May of 2012, CTi signed a global R&D, Marketing and Technology License Agreement with Desmet, which gives CTi the flexibility to pursue new research and applications while Desmet, markets CTi's technology to major clients around the world. More information is available at http://www.desmetballestra.com/.
About GEA Westfalia Separator Group GEA Westfalia is a leading worldwide developer of procedures and processes for the mechanical clarification and separation of liquids for agricultural industries, as well as the renewable energy, chemical, pharmaceutical, biotechnology, petroleum, shipping, marine, environmental, dairy, and beverage industries. GEA Westfalia's global network encompasses more than 50 sales and service centers worldwide, 12,000 employees, and annual sales exceeding $7 Billion. In August of 2012, CTi entered into a Technology and Licensing Agreement with GEA Westfalia. More information is available at http://us.westfalia-separator.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.
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Source: Cavitation Technologies, Inc.