CHATSWORTH, CA, April 08, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Cavitation Technologies, Inc. (CTi) (OTCQB: CVAT) (BERLIN: WTC) is pleased to announce it received its first purchase order for Low Pressure Nano Reactor Technology (LPN) for frac water treatment.
LPN is an environmentally friendly technology that will be used as an addition to existing processes in the produced and frac water treatment in the oil and gas industry. Installation of the LPN along with proprietary chemical formulations and engineering designs will address a growing demand for water supply and treatment, water used in drilling and completions operations, and ongoing regulatory requirements for the implementation of environmentally friendly technologies that will address industry needs. Further, in addition to LPN sales, CTi will be receiving additional recurring monthly revenue based on certain flow and produced water treatment volumes processed by the end users.
Our first purchase order of four LPN lines is going to be shipped in the current month, while we anticipate to have a full commercial installation on-site in the early part of May.
CTi’s LPN technology has been deployed for the past several years, although this is the first commercial installation in the produced and frac water treatment industry. Nearly every oil and gas well generates water as part of the production process. On average, 58 million barrels of produced water are generated in the United States each day. The water management market for upstream oil & gas operations in the United States was worth an estimated $33.6 billion in 2018 and projected to grow at approximately 4% compound average growth rate (CAGR) over the next 5 to 7 years.
Roman Gordon, Global Technology Manager of CTi, confirms, “We are delighted to receive our first purchase order and look forward to launching into the water treatment services with our leading-edge technology. We’re eager to see our LPN technology to achieve improved performance over conventional methods.”
About CTi
Founded in 2007, the company designs and manufactures state-of-the-art, flow-through, devices and systems as well as develops processing technologies for use in edible oil refining, renewable fuel production, expeditious petroleum upgrading, algal oil extraction, alcoholic beverage enhancement, water treatment. As an add-on to its existing neutralization systems, the company's patented Nano Reactor™ allows refiners to significantly reduce both processing costs and environmental impact, while also increasing yield. http://www.ctinanotech.com/
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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, and include statements regarding the anticipated installation and the timing of the installation, our intent to continue to focus on research and development, marketing and sales of our unique technology, our belief that our company is positioned for accelerated growth and the expected efforts to be made to enhance our shareholder's value. 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 the installation 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.