CHATSWORTH, CA, Aug. 14, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Cavitation Technologies, Inc. ("CTi"), (OTCQB: CVAT) announced that it has received several purchase orders for low-pressure Nano Reactor® (LPN) with an aggregate value of approximately $200,000, and it is anticipated that CTi will receive an increased volume of purchase orders in its Fiscal 2024 compared to Fiscal 2023.
The vegetable oil refining industry plays a crucial role in converting raw vegetable oils into edible oils that are safe for consumption and have desirable characteristics. According to the U.S. vegetable oil market report, the market was valued at $98.5 billion in 2019, and is projected to reach $130 billion by 2027.
The industry is increasingly focused on sustainability and reducing its environmental footprint. It matches with CTi's ESG compliant, disruptive technologies, that provide yield improvement, chemical input reduction among other substantial proven benefits to legacy food oil refining systems.
Neil Voloshin, CEO of Cavitation Technologies, Inc., commented: “We are delighted to continue our 12-year partnership with Desmet Ballestra Group, NA, as we forge ahead in bringing CTi's cutting-edge nanotechnology to the forefront of global sustainability efforts. Together, we are shaping a brighter future for communities around the world.”
The LPN multistage Nano Reactor® is designed to achieve an improved performance over conventional technologies and covers a wide range of applications in processing large volumes of fluids. In vegetable oil refining, the LPN technology offers an enhanced performance, lowered operating expenses, reduced environmental impact, exceptional oil quality, improved shelf life, and reduction of up to 90% of the harsh chemicals used in conventional edible vegetable oil refining processes.
In addition to chemical refining of vegetable oils, CVAT's technology is applicable to food and beverages, water, pharmaceutical and medical cannabis, coatings and fuels.
About Desmet Ballestra Group:
Desmet is a leading global provider of custom-engineered plants and equipment for the food, feed and biofuels industries. Our reliable and innovative technologies transform oilseeds, grains and tropical oils into protein feed/food, edible oils/fats, oleochemicals and biofuel. Desmet owns proprietary technologies in many areas of the oils and fats industry and offers unique skills and experience in the design and supply of technologies for plants covering all stages of production: preparation and pressing of seeds, extraction of oil and oil refining and fat modification. Desmet possesses a great worldwide reputation, thanks to over 75 years of experience, a significant R&D capacity and the most extensive customer base in the industry. The company has sales and engineering offices in 15 countries.
More information is available at www.desmet.com
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 40 patents issued and filed both domestically and abroad. https://www.cvatinfo.com.
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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, it is anticipated that CTi will receive an increased volume of purchase orders in its Fiscal 2024 compared to Fiscal 2023. 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, our ability to perform the installation as anticipated, the state of the economy, the competitive environment 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.
Cavitation Technologies, Inc.