Desmet Ballestra Will Install CTi's System at Edible Oil Refinery in Argentina
1 Feb 2013
LOS ANGELES, Calif., Feb. 1, 2013 - Cavitation Technologies, Inc. (CTi) (OTCBB: 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 a sales agreement with an edible oil refinery in Argentina that produces vegetable oil. The purchased system, capable of processing 300 tons of oil daily, will be installed in the third fiscal quarter of 2013.
CTi received the initial down payment in 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 the current fiscal year. In regards to the sales agreement, Dr. Varvara Grichko, CTi's Director of R&D, commented, "This marks our fourth installation in Argentina and we are pleased that our technology has received such positive reception in this region. We look forward to strengthening our relationships with more edible oil refineries in South America in the future."
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 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/.