LOS ANGELES, Sept. 13, 2011 /PRNewswire/ -- Cavitation Technologies, Inc. (OTCBB: CVAT; Berlin, Stuttgart, & Frankfurt: WTC), (CTi) recently amended its Technology License, Marketing, & Collaboration Agreement dated November 1, 2010 with the N.V. Desmet Ballestra Group, S.A. ("Desmet Ballestra"). The principal changes to the agreement are: (i) Desmet Ballestra now provides a site user a minimum guarantee of operating improvements by utilizing our Nano Neutralization process, and (ii) the requirement that Desmet Ballestra install at least ten (10) of our Nano Reactor Units by June, 2012, an additional twenty (20) Nano Reactor Units by June of 2013 and a further twenty (20) Nano Reactor Units by June 2014 in order for Desmet Ballestra to maintain the exclusive license granted by CTi.
Separately, Desmet Ballestra recently ordered two Nano Reactor Units. These Units will be incorporated into Nano Neutralization systems that will be employed by one customer in Europe and one in South America. One unit will be capable of processing up to 300 metric tons per day (mtpd) of vegetable oil such as rapeseed oil while the other has a capacity of 200 mtpd for processing oils such as soybean and sunflower.
Commenting on the Desmet Ballestra relationship, Cavitation Technology CEO Todd Zelek said, "We continue to be excited about our relationship with Desmet Ballestra. Desmet Ballestra is a terrific partner and their continued focus from a research and development, marketing and sales perspective as well as providing performance guarantees to customers will be instrumental as we capitalize on opportunities for our Company worldwide."
Cavitation Technologies, Inc. is a California-based development stage company that has developed and patented a technology with multiple potential applications in industrial liquid processing. The Company has commercialized its proprietary technology for processing vegetable oils through a device called the Nano Neutralization™ Reactor (the "Reactor"). The Reactor is designed to reduce operating costs and increase yields in vegetable oil refineries. The Company has filed patent applications to use its proprietary technology in other liquid processing markets such as: (i) algae oil extraction; (ii) waste water treatment; (iii) renewable fuel production; and (iv) alcoholic beverage enhancement. In addition, the Company believes its proprietary technology can also be applied to fuel mixing and crude oil refining. Our mission is to apply our environmentally friendly technology in a way that potentially helps clients reduce operating costs, increase yields, and improve quality in industrial liquid process applications.
This press release contains forward-looking statements, including without limitation statements and information about the Company's business, plans and strategies. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of business, economic and competitive market conditions; business decisions by suppliers, licensees and customers concerning the Company's technologies and products; the Company's ability to develop new or additional technologies and applications in various fields and industries and to stimulate customer demand for its technologies and products; the size and growth of markets for the Company's technologies and products; the Company's ability to implement patent licensing and marketing strategies, including execution of revenue generation strategies and models; the continued availability of essential components and services that are currently obtained from sole or limited sources; the Company's ability to protect its intellectual property in world markets; the success of business relationships with suppliers, licensees and customers; the timing and success in completing research & development projects, whether existing or new patent applications will be granted; the potential for infringement of the Company's intellectual property by others; the ability of the Company to fund its capital requirements; and its ability to attract and retain key personnel.
Additional information on potential factors that could affect the Company's performance or financial results is included from time to time in the Company's public reports filed with the SEC. The Company assumes no obligation to revise or update any forward-looking statements or information, which are effective or apply only as of their respective dates of publication.
NOTE TO EDITORS: For additional information, visit CTi's website at www.ctinanotech.com.
References to CTi, the CTi logo, Nano Reactor™ system, Nano Reactors™, Nano Neutralization™ and other terms that describe the Company's technologies, applications, processes and products are trademarks of the Company. Other company and product names may be trademarks of their respective owners.
SOURCE Cavitation Technologies, Inc.