Los Angeles, CA (PRWEB) April 07, 2015
Cavitation Technologies, Inc. (CTi) (OTCBB:CVAT); 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 new system trial agreement with a sunflower oil refinery in Turkey. This oil refinery processes approximately 500MTPD of sunflower oil and Desmet Ballestra anticipates system installation in the first quarter of CTi’s fiscal year 2016.
With system installations in soy and canola refineries worldwide, this order marks CTi’s first system trial in a sunflower oil refinery and provides a new business opportunity for company’s line of products in edible oil processing and refining.
N.D. Voloshin, the company’s CFO remarked, “We are very pleased to have a commercial system trial in a sunflower oil refinery in Turkey. Upon the completion of the trial period the sunflower oil refinery will evaluate the benefits and efficiency of CTi technology and have the option to purchase our system." Mr. Voloshin continued, “With this new system trial in sunflower oil refining, our company has an opportunity to tap into the sunflower oil market which has global sales approaching $12 Billion annually. Also, due to our invaluable relationship with the Desmet Ballestra Group we find ourselves in a favorable position to introduce our technology to this market sector."
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® allows refiners to significantly reduce both processing costs and the environmental impact, by substantially reducing chemical consumption while also increasing the oil yield. More information is available at http://www.ctinanotech.com/.
About Desmet Ballestra Group
The Desmet Ballestra Group is a 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 oleo-chemical 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. In May 2011, the Company signed licensing agreement with Desmet and since then Desmet has marketed and installed CTi’s Nano-Reactor® systems in edible vegetable oil refineries around the world. In May of 2012, CTi signed a global R&D, Marketing and Technology License Agreement with Desmet, which gives CTi the flexibility to pursue new research and applications while Desmet, markets CTi’s technology to major clients around the world. 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.
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