Los Angeles, CA (PRWEB) October 02, 2013
Cavitation Technologies, Inc. (“CTI”) (OTCBB: CVAT) (Berlin & Stuttgart: WTC) today announces that CTI received an order from its strategic business partner, the Desmet Ballestra Group (“Desmet”), for CTI’s Nano Neutralization® system at one of the largest edible oil refineries in the United States.
CTI's strategic partner since 2010, and licensee of the company's vegetable oil refining technology, Desmet has entered into a sales agreement and will oversee the installation of CTI’s Nano Neutralization technology. The company purchasing CTI’s system operates plants worldwide and is an industry leader in the agricultural refining and processing business.
Mr. Roman Gordon, Cavitation Technologies, Inc. Chief Technology Officer, commented, “Desmet has integrated our systems in several refineries in the United States, but this installation is the largest to date. After undergoing trial testing for the past six-months, we’re excited that this installation has finally transitioned into a sales agreement, especially with a company of this magnitude. This opportunity provides enormous potential for growth for our company.”
CTI expects approximately $850,000 in revenue in the 2nd and 3rd fiscal quarters of 2014.
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.
Investment Relations Contact:
Surety Financial Group, LLC