Cavitation Technologies receives Nano Reactor(R) System Sale in South Korea
12 Mar 2015
LOS ANGELES, Calif., March 12, 2015 - Cavitation Technologies, Inc. (CVAT) Berlin: (Stuttgart:WTC) announced today that the Desmet Ballestra Group, CTi's strategic partner since 2010 and licensee of the company's vegetable oil refining technology, has entered into two sales agreements with a soybean oil refinery in South Korea. This oil refinery processes approximately 200MTPD of soybean oil and Desmet anticipates system installation in the fourth quarter of CTi's fiscal year 2015. CTi anticipates to receive approximately $150,000 dollars for each system.
With multiple installations worldwide, these two new orders mark CTi's fifth system sale in South East Asia to-date, a region that provides enormous business opportunity for the company's line of products in edible oil processing and refining.
President Igor Gorodnitsky comments, "We are very pleased to have two system sales, more importantly, these two new system sales come from a repeat customer in South Korea. This customer had an opportunity to evaluate significant benefits that our technology brings in vegetable oil refining. Our invaluable relationships with our licensees, the Desmet Ballestra Group and GEA Westfalia provide our company with very strong business partnership with global technology leaders."
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(R) 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.
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.
Cavitation Technologies, Inc: Jessica Steidinger Jessica@ctinanotech.com (818) 718-0905