Dec 21 2010
(CTi) (OTC Bulletin Board: CVAT; Berlin & Frankfurt: WTC). Cavitation Technologies, Inc., a California based technology company, announced today that it has completed delivery for a Nano Reactor™ Unit to AgNatural, LLC, a U.S. based vegetable oil refiner and received payment through Fidelity Capital Partners, LLC.
The Unit will allow AgNatural to deploy the CTi's Nano Neutralization™ process at its vegetable oil facility in North Carolina.
On December 15, 2010, CTi announced that it had entered into a finance lease arrangement for the Unit with AgNatural and Fidelity Capital Partners, LLC, a California finance leasing firm, with CTi granting a five-year license to AgNatural for the use of its technology at their North Carolina facility. CTi has now received the payment in full for the 5 year license arrangement.
The finance lease arrangement with AgNatural and Fidelity follows several months of testing and evaluating CTi's technology at various U.S. vegetable oil facilities. Through this program, CTi has been able to confirm the commercial viability of a new proprietary application or process developed for the vegetable oil refining industry. Dubbed "Nano Neutralization™", the Company believes that this application has the potential to provide continuous economic benefits to refiners through increased oil yields and reductions in process chemicals.
CTi's CEO Roman Gordon said: "This is a very exciting time for us as years of hard work is now resulting in revenue. We firmly believe, that this is just the beginning and that our technology will be well received around the world."
Source: http://www.ctinanotech.com/