Chatsworth, Calif., Dec. 01. 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Cavitation Technologies, Inc. (OTCQB: VAT) renews a new 3-year global license agreement with Desmet Ballestra Group sa (Desmet), CTi’s strategic partner since 2010, which is currently the licensee and global distributor of vegetable oil refining and biodiesel production technology based on of the company’s nanomaterials.
The agreement grants Desmet an exclusive license and the right to develop, design and supply the NANO Neutralization® system which integrates Nano Reactor® devices and newly designed Low-Pressure Nano (LPN) globally in grease and oleochemical applications. The agreement provides for an annual license fee of $500,000 and is due to expire on October 1, 2024.
Desmet, together with its subsidiaries, is a global engineering and equipment supply company engaged in the development, design and supply of process equipment for oil and fat processing facilities, including the markets of vegetable oil refining, biofuels, oleochemicals, seed grinding, surfactants and detergents. Desmet provides these markets with services based on the latest technologies of global origin.
Desmet maintains relationships with the world’s major refiners: a significant portion of the world’s 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., said, “Desmet has always been a fundamentally important partner for us in identifying leads, closing sales contracts, installing the system and managing end-user relationships. We look forward to strengthening this relationship and expanding our technology offering globally with Desmet. I am convinced that this agreement will enable more industry players to benefit from our unique and environmentally friendly technology, with a good return on investment for end users.
“In addition, CTI and Desmet have already identified and established several multi-channel relationships for testing and distribution of LPN systems, to date we have achieved excellent business results and expect Desmet sales to accelerate in the near future at various customers around the world,” Mr. Voloshin concluded.
The patented LPN technology is based on the cavitation of fluids and fluidic mixtures by the controlled formation of cavitation bubbles and uses the energy released during the implosion of these bubbles to modify said fluids. The device effectively modifies fluids composed of different compounds by using the implosion energy of cavitation bubbles to improve the homogeneity, viscosity and/or other physical characteristics of the fluids. The result of this process is improved or modified products of greater value. This state-of-the-art technology is designed to achieve improved performance over conventional methods and will cover a wide range of applications where low pressure handling of large volumes of fluids is required.
About Cavitation Technologies, Inc. Founded in 2007, the company designs and manufactures innovative continuous-flow devices and systems, and develops process technologies for edible oil refining, renewable fuel production, water treatment and improvement of alcoholic beverages. The company’s patented Nano Reactor® systems and various technologies have over 48 patents issued and filed domestically and internationally. https://www.cvatinfo.com/.
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About Desmet Ballestra Group
The Desmet Ballestra Group provides engineering and supply of plant and equipment for the following industries worldwide: · Oils & Greases and Animal Feeds · Detergents, Surfactants and Related Chemicals · Oleochemicals and Biodiesel. The Desmet Ballestra R&D team is made up of professionals specializing 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 North and Central America (United States, Mexico) , in South America (Argentina, Brazil, Colombia), Asia and the Far East (PR China, Singapore, Malaysia), India and Europe (Belgium, Turkey, Russia, Spain) https://www.desmetballestra.com/.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some instances, forward-looking statements may be identified by words such as “may”, “should”, “potential”, “continuing, ” expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates” and similar expressions. These forward-looking statements are based in large part on the Company’s expectations and are subject to number of risks and uncertainties, some of which are beyond the Company’s control. Actual results could differ materially from these forward-looking statements due to a variety of factors, including the state of the economy, the competitive environment and our ability to to perform as intended 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. these risks and uncertainties, there can be no assurance that the forward-looking statements contained in this press release will materialize 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 as a result of new information, future events or otherwise, except if required by law.
Cavitation Technologies, Inc.