LOS ANGELES, Aug. 28, 2012 /PRNewswire/ -- Cavitation Technologies, Inc. (CTi) (OTCBB: CVAT; Berlin & Stuttgart: WTC) announced today that it has entered into a Technology and Licensing Agreement with the GEA Group AG - Westfalia Separator Group GmbH, Oelde, Germany (GEA Westfalia).
The companies have agreed to jointly develop and patent new process applications for CTi's Nano Reactor®. As part of the Agreement, GEA Westfalia will assemble a complete commercial system incorporating CTi technology in their facility. This will facilitate the testing of existing processes that have been developed by CTi and the joint development of new process applications.
Commenting on the Agreement, CTi CEO Todd Zelek stated, "Our strategy is to partner with the best companies in the world to commercialize our patented Nano Reactor® and patent pending applications. GEA Westfalia is a leading worldwide supplier of process equipment to industries where we see significant potential for our technology including the dairy and beverage areas. We have been extremely pleased with our relationship with Desmet Ballestra, a leader in the oleo chemical industry and expect to develop exciting additional opportunities with our new partner GEA Westfalia."
Klaus-Peter Eickhoff, Director, GEA Westfalia Separator Group GmbH, commented, "We are very interested in studying the benefits of CTi's technology in several liquid processing areas and look forward to incorporating CTi's Nano Reactor® in some of our process technology."
About GEA Group
GEA Group AG is one of the largest suppliers of process technology and components for the food and energy industries. As an international technology group, the Company focuses on sophisticated production processes. In 2011, GEA generated consolidated revenues in excess of EUR 5.4 billion 70 percent of which came from the food and energy sectors which are long-term growth industries. The group employed about 24,000 people worldwide as of June 30, 2012. The GEA Group is a market and technology leader in its business areas. It is listed in Germany's MDAX stock index (G1A, WKN 660 200) and the STOXX® Europe 600 Index.
About Cavitation Technologies, Inc.
CTi has developed, patented, and commercialized proprietary technology that can be utilized in liquid processing applications. CTi's patented Nano Reactors are the critical components of the CTi Nano Neutralization® System which is commercially proven to reduce operating costs and increase yields in refining various vegetable oils. CTi has two patented Nano Reactor® systems and has filed several national and international patents to employ its proprietary technology in applications including, vegetable oil refining, waste water treatment, algae oil extraction, and alcoholic beverage enhancement.
Following submission of CTi's Fiscal 2012 10-K annual report in September, CTi's CEO, Todd Zelek, plans to hold a conference call for shareholders to discuss fiscal year end results and update shareholders on the Company's progress.
This press release may contain 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®, CTi 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.