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Chatsworth, CA, Dec. 01, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Cavitation Technologies, Inc. (OTCQB: CVAT) renews a new 3-year Global License Agreement with Desmet Ballestra Group s.a. (Desmet), CTi's strategic partner since 2010, who is the current licensee and worldwide distributor of the company's Nano-based vegetable oil refining and biodiesel production technology.
The Agreement provides Desmet an exclusive license and right to develop, design and supply Cavitation’s NANO Neutralization® System which incorporates Nano Reactor® devices and newly designed Low-Pressure Nano (LPN) on global basis in fats and oleo chemical applications. The agreement provides for $500,000 annual licensing fee and is set to expire on October 1, 2024.
Desmet, together with its affiliates, is a global engineering and equipment supply firm engaged in the development, design and supply of process equipment for oils and fats processing facilities including vegetable oil refining, biofuel, oleo chemical, seed crushing, surfactant and detergent markets. Desmet supplies these markets with services based on the latest globally sourced technologies.
Desmet has relationships with major refiners globally: a significant portion of global vegetable oil refineries include companies such as Archer Daniels Midland Company, Cargill, Inc. and Bunge Limited.
Neil Voloshin, COO and CFO of Cavitation Technologies, Inc., commented, “Desmet has always been fundamentally important partner to us to identify prospects, complete sales contracts, install the system and manage relationships with end-users. We look forward to strengthening this relationship and expanding our technology offering globally with Desmet. I am confident that this agreement will allow more industry players to benefit from our unique, environmentally friendly technology, with a good return on investment to the end-users.”
“In addition, CTI and Desmet have previously identified and established several multi-channel relationships for testing and distribution of the LPN systems, as of today, we have had excellent commercial results and anticipate accelerated sales from Desmet in the near future to various customers worldwide,” Mr. Voloshin concluded.
LPN patented technology is based on cavitation of fluids and fluidic mixtures through the controlled formation of cavitation bubbles and uses the energy released upon the implosion of these bubbles to alter said fluids. The device effectively modifies fluids composed of different compounds by using the implosion energy of cavitation bubbles to improve the homogeny, viscosity, and/or other physical characteristics of the fluids. The result of this process is upgraded or altered products of higher value. This leading-edge technology is designed to achieve improved performance over conventional methods and will cover a wide range of applications where low pressure processing of large volumes of fluids is required.
About Cavitation Technologies, Inc. Founded in 2007, the company designs and manufactures innovative flow-through devices and systems, as well as develops processing technologies for use in edible oil refining, renewable fuel production, water treatment, and alcoholic beverage enhancement. The company's patented Nano Reactor® systems and various technologies have over 48 patents issued and filed both domestically and abroad. https://www.cvatinfo.com/.
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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) https://www.desmetballestra.com/.
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. 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 our ability to perform 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.