Desmet Ballestra Will Install CTI’s System at Another United States Edible Oil Refinery
15 Jan 2013
LOS ANGELES – January 15, 2013 – Cavitation Technologies, Inc. (CTI) (OTCBB: CVAT; Berlin & Stuttgart: WTC) 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 sales agreement with an edible oil refinery, in the United States, that produces refined, bleached and deodorized soybean oil. The purchased system, capable of processing 500 tons of soybean oil daily, will be installed in February of 2013.
CTI received the initial down payment in the second quarter of the current fiscal year. The company expects to receive additional revenue from the sales agreement in the third and fourth quarters of current fiscal year, as well. Roman Gordon, CTO, commented, "We are excited that more and more American and international refineries are recognizing the potential of our high-efficiency, green technology!"