CTi Announces Another Commercial Placement of Its Proprietary Technology in the Vegetable Oil Refining Industry
15 Dec 2010
Cavitation Technologies, Inc. ("CTi") (OTC Bulletin Board: CVAT) (Berlin, Stuttgart & Frankfurt: WTC) a California based technology company, announced today that it has entered into a financing lease arrangement with Fidelity Capital Partners, LLC, a California finance leasing firm, and AgNatural, LLC, a U.S. vegetable oil refiner, that will allow deployment of CTi's Nano Neutralization™ technology at AgNatural's North Carolina refining facility.
Under this arrangement, CTi will supply a Nano Reactor™ Unit to Fidelity, which will lease the Unit to AgNatural for an initial term of five years. As part of the transaction, CTi and AgNatural have signed a user license authorizing AgNatural's use of CTi's reactor technology at its facility. CTi believes that use of lease financing should accelerate the projected lease revenue stream for the Unit and allow CTi to collect the full amount of the Unit price and fees upon delivery of the Unit.
The lease finance arrangement follows several months of testing and evaluating CTi's technology at various U.S. vegetable oil facilities. Through this program, CTi has been able to confirm, to the satisfaction of AgNatural, the commercial viability of a new proprietary application or process developed for the vegetable oil refining industry. Dubbed "Nano Neutralization™", CTi believes this application has the potential to provide continuous economic benefits to refiners through increased oil yields and reductions in process chemicals.
According to Roman Gordon, CTi's CEO, "We believe our pilot program with vegetable oil refiners demonstrated almost immediately the commercial value of Nano Neutralization™ and allowed us to measure the potential economic benefits it may provide in certain refining processes. We're now in the process of rolling out this technology to the vegetable oil refining industry on a worldwide basis."
CTi (OTCBB: CVAT; Berlin, Stuttgart & Frankfurt: WTC) is a technology research, development and technology company engaged primarily in the development of environmentally clean Nano Reactor™ technologies and liquid process applications and solutions in various fields and industries, including vegetable oil processing and refining; renewable fuels; petroleum refining and petrochemicals; water and wastewater treatment; and the food and beverage industries.
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