CTi's Renewal of Agreement With Desmet Ballestra Continues to Bolster Its User Base and Provides for Continued Monthly Advances
LOS ANGELES, CA--(Marketwired - Mar 15, 2016) - Cavitation Technologies, Inc. ("CTi") (
CTi's COO/CFO N.D. Voloshin commented that, "We are very pleased with our continued relationship with Desmet. This particular reactor will be installed at a repeat customer's facility located in North America."
CTi recently renewed its Technology License, Marketing, & Collaboration Agreement with the N.V. Desmet Ballestra Group, S.A. Key factors of this agreement include:
- Desmet continuing to market, sell, supply and incorporate CTi's Nano Reactor Systems to its refinery clients. The refineries targeted by Desmet either produce and/or process oils and fats, degummed oils and fats, oleochemicals as well as Bio-Diesel and Bio-Fuel products.
- Desmet continuing to provide monthly advances to CTi for the duration of the agreement.
- A three-year term.
In addition, Mr. Voloshin commented that, "For the past five years, our strategic partnership with Desmet has steadily grown and has shown to be invaluable to our company. Jointly, our companies intend to continue to focus on research and development, marketing and sales of CTi's unique technology. With over 20 installations worldwide, we believe our company is positioned for accelerated growth and we expect to do our utmost to enhance our shareholders' value."
Founded in 2007, the company designs and manufactures state-of-the-art, flow-through, devices and systems as well as 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 its existing neutralization systems, the company's patented NanoReactor™ allows refiners to significantly reduce both processing costs and environmental impact, while also increasing yield. More information is available at http://www.ctinanotech.com/.
About Desmet Ballestra Group
The Desmet Ballestra Group provides engineering and supply of plants and equipment for the following industries worldwide:
- Oils and Fats and Animal Feed,
- Detergents, Surfactants and related Chemicals,
- Oleochemical and Biodiesel
Desmet Ballestra's R&D Team is composed of professionals specialized in Oils and Fats, oleochemicals and chemical processes, using the most comprehensive set of technological resources and equipment. Controlled by Financière DSBG, a holding company based in Paris, France, the Desmet Ballestra Group is present in all major market areas of the world through its integrated business units located in Northern and Central America (USA, Mexico), South America (Argentina, Brazil, Colombia), Asia & Far East (PR China, Singapore, Malaysia), India and Europe (Belgium, Turkey, Russia, Spain).
Forward Looking Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, and include statements regarding the anticipated installation and the timing of the installation, our intent to continue to focus on research and development, marketing and sales of our unique technology, our belief that our company is positioned for accelerated growth and the expected efforts to be made to enhance our shareholder's value. 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, the continued success of our relationship with Desmet and our ability to perform the installation as anticipated and other factors described in our most recent Form 10-K and our other filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. 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. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
Cavitation Technologies, Inc.
Chief Financial Officer
Phone (818) 718-0905