Desmet Ballestra Will Install Cavitation Technologies, Inc's System at Edible Oil Refinery in the United States
20 Apr 2015
LOS ANGELES, Calif., April 20, 2015 - Cavitation Technologies, Inc. (CTi) (CVAT) announced today that the Desmet Ballestra Group, CTI's strategic partner since 2010 and the licensee of the company's vegetable oil refining technology, has entered into a new sales agreement with an edible oil refinery that produces refined, bleached and deodorized soybean oil. The purchased system has the capability of processing of up to 1000MTPD of soybean oil per day.
This new order marks CTi's fifth multiple system sale in the United States. The company anticipates shipping of this system in the fourth quarter of fiscal 2015 and expects to recognize the largest revenue so far this year. Mr. Voloshin, the company's CFO, commented, "We are delighted that more and more American and International vegetable oil refineries are recognizing the potential of our highly-scalable, extremely-efficient and eco-friendly technology."
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 oleochemical 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.