CTi & Desmet Ballestra Expand Worldwide Exclusive Technology License & Distribution Arrangement and Announce Roll-Out of New Technology
17 Nov 2010
LOS ANGELES, Nov. 17, 2010 -- Cavitation Technologies, Inc. (CTi) (OTC Bulletin Board: CVAT; Berlin, Stuttgart & Frankfurt: WTC). CTi announced today that n.v. Desmet Ballestra Group s.a. (Desmet) and CTi have entered into a new global technology license, marketing and collaboration agreement with respect to CTi's proprietary Nano Reactor™ technology. The new agreement replaces the worldwide license and distribution agreement signed by the parties in January 2010 and substantially expands the license and authority that Desmet will have in marketing CTi's nano reactor technology in the field of vegetable oil treatment, processing and refining.
The new agreement follows months of testing and evaluating "pilot" nano reactor systems installed by CTi and Desmet at U.S. vegetable oil refining facilities. This program confirmed the potential value of CTi's Nano Neutralization™ process, a new commercial application of CTi's technology geared to certain vegetable oil refining processes.
According to Roman Gordon, CTi's CEO, "Data from our pilot program allowed us to measure the economic benefits Nano Neutralization can generate for oil refiners. Based on these results, we realized immediately the importance of expanding our relationship with Desmet in order to make our technology available to the vegetable oil refining industry on a worldwide basis. We believe that, as one of the world's leading engineering firms in the design and construction of processing and refining systems in the natural oils and fats industry, Desmet is uniquely positioned to assist CTi in developing and marketing our nano reactor technology in this area."
Under the new agreement, Desmet has been granted a worldwide exclusive license to design, install and integrate into vegetable oil refineries nano reactor systems that will deploy the Nano Neutralization™ process and other liquid processing solutions developed for the oils and fats industry. CTi and Desmet are currently in the process of rolling out a marketing program that will make the Nano Neutralization™ process available to vegetable oil refiners in the U.S., Europe and in South and America.
CTi is a technology research and development company engaged primarily in the development of environmentally clean Nano Reactor™ technologies and liquids processing applications and solutions in various fields and industries, including natural plant (vegetable) oil processing and refining; renewable fuels; petroleum refining and petrochemicals; water and wastewater treatment; and the food and beverage industries. For additional information please visit: www.ctinanotech.com.
This press release contains forward-looking statements, including without limitation those about the Company's business, plans and strategies. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of business, economic and competitive market conditions; business decisions by suppliers, licensees and customers with respect to the Company's technologies and products; the ability of the Company to develop new or additional innovative technologies, applications and processes in various fields and industries, and to stimulate customer demand for its technologies and products; the size and growth of markets for the Company's technologies and products; the Company's ability to implement licensing and marketing strategies, including execution of revenue generation plans and models; the continued availability of essential components and services that are currently obtained from sole or limited sources; the Company' ability to protect its intellectual property in international markets; the success of patent licensing and marketing strategies and objectives; the success of business relationships with licensees, partners, suppliers and customers; the timing and successful completion of research & development projects, whether existing or new patent applications will be granted, and the potential for infringement of the Company's intellectual property by others; the timely completion of acquisitions; the ability of the Company to fund its capital requirements; and its ability to attract and retain key personnel. Additional information on potential factors that could affect the Company's performance or financial results is included from time to time in the Company's public reports filed with the SEC. The Company assumes no obligation to revise or update any forward-looking statements or information, which are effective or apply only as of their respective dates of publication.