Chatsworth, CA, Dec. 29, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Cavitation Technologies, Inc. (OTCQB: CVAT), a leading nano-technology fluids processing company, is pleased to release a letter to shareholders providing Corporate Update and Year-End 2021 Results.
“The business foundation we have been building for several years is starting to accelerate and produce the results we have anticipated. Further, we think we have just scratched the surface,” stated Neil Voloshin, COO/CFO of Cavitation Technologies, Inc. For instance, our efforts with our partner in the Permian Basin are providing a unique solution to cleaning and recycling produced water in the oil and gas industry. By the way, we believe that collaboration alone could be transformational for Cavitation. However, we also believe our technologies are uniquely positioned to enable other emerging opportunities in various industries that can provide environmentally conscious approaches that are also economically viable. We think that combination is imperative to the success of solutions aimed at effectively managing precious resources in a manner that allows us to use them today but also protects them for future generations. Our Company and employees have diligently worked for years to develop and implement environmentally friendly technologies that will greatly enhance business opportunities for years to come, while relying on the invaluable trust and support of our shareholders. We would add, for the past 12 months our Company’s share price, market capitalization and shareholder value have advanced significantly as depicted in the chart.
2021 Highlights
- In February we restarted our frack water treatment operations in the Permian Basin, which encompassed testing and implementation of our newly developed patented technologies
- Cavitation Technologies and Partnership International have signed a collaboration agreement to promote sustainable development through renewable energy and clean water treatment investments
- In March, we received a purchase order from a Bio-Diesel refinery in South America valued at approximately $190,000, which is our second installation in the region
- In conjunction with our efforts in oil and gas, we began testing a new patented 500 GPM Low Pressure Nano Reactor® (LPN) enabling three unique elements of supercritical cavitation in produced water treatment: rendering organics completely soluble; improving oxygen solubility thus enhancing oxidation; and making inorganic constituents become largely insoluble
- The Company received a purchase order from a vegetable oil refinery in North America, valued at approximately $110,000
- In June, we completed the testing phase of our 500 GPM Low Pressure Nano Reactor® (LPN). We subsequently transitioned this allowing our partnership to significantly increase the daily volumes of treated frack water
- In July the Company has completed an equity financing of $1,500,000 to accelerate the commercialization of its produced water treatment technology in the Permian Basin
- The Company has received $204,000 under PPP; subsequently this sum was forgiven and was reflected in our financials
- In September, Dr. Jerry Bailey has joined the Board of Directors. Dr. Bailey has BS and MS degree in Chemical Engineering; a professional career for over 50 years in Oil & Gas industry providing great management and leadership to numerous companies, including being a President of Exxon in the Arabian Gulf
- On December 1, CTi and Desmet Ballestra Group s.a. renewed 3-year Global License Agreement, which covers worldwide distribution of Company’s nano-based technology for vegetable oil refining and biodiesel production. This renewed contract provides a licensing fee of approximately $500,000 per year.
- In December, we have successfully launched our first Mobile System to treat frack and produced water in Permian Basin. 500 GPM Low Pressure Nano Reactor® (LPN) based system has significantly increasing pass-through processing water volume rates to approximately 17,000 BPD compared to previously designed systems handling approximately 8,000 BPD.
- In 2021 the Company received four additional patents including three US PTO and one issued by European Patent Office (EPO):
- APPARATUS FOR GENERATING CAVITATION IN A LIQUID – Patent # 10,954,140
- SYSTEM AND METHOD FOR PURIFICATION OF DRINKING WATER, ETHANOL AND ALCOHOL BEVERAGES OF IMPURITIES - Patent # 10,995,015
- PROCESSES FOR INCREASING PLANT PROTEIN YIELD FROM BIOMASS – Patent # 11,066,440
- SYSTEM AND METHOD FOR PURIFICATION OF DRINKING WATER, ETHANOL AND ALCOHOL BEVERAGES OF IMPURITIES – EPO Patent #347646
To-date CTI has received over 40 patents worldwide, a list can be found at: https://patents.justia.com/assignee/cavitation-technologies-inc
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 such as “The business foundation we have been building for several years is starting to accelerate and produce the results we have anticipated.” 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.
We look forward to 2022 and wish you all, Happy Holidays and A Happy New Year!
-Neil Voloshin + the CVAT Team
Cavitation Technologies, Inc.
818-718-0905
info@ctinanotech.com
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