Cavitation Technologies, Inc (CVAT) Announces a Licensing Agreement with Industry Leader GEA Group AG, Westfalia
CHATSWORTH, CA / ACCESSWIRE / March 29, 2017 / Cavitation Technologies, Inc (CTI) (OTCQB: CVAT; Berlin: WTC) announced today that GEA Group AG, Westfalia (GEA) (Frankfurt: G1A) have entered into a new global technology license, R&D and marketing agreement with respect to CTi’s patented Nano Reactor™ technology, processes and applications. Under the new agreement, GEA has been granted a worldwide exclusive license to integrate CTi’s patented technology into water treatment application, milk and juice pasteurization, and certain food related processes. The license agreement between CTi and GEA has a three year term and provides $300,000 per year in advanced license fees to CTi.
Igor Gorodnitsky, CTi’s President commented, “This is an important milestone for our company to expand our relationship with GEA in order to make our technology available on a worldwide basis. We believe that GEA, being one of the world’s leading engineering firms in diversified industries, is uniquely positioned to market and sell our technology and processes. Longer term, this is an extraordinary opportunity for our company to deliver accelerated acceptance of our technology, sales growth and increased shareholder value, thus allowing us to focus on research and development of new technologies and applications.”
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, and the extraction of cannabidiol (CBD). 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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GEA is one of the largest suppliers for the food processing industry and a wide range of process industries that generated consolidated revenues of approximately EUR 4.6 billion in 2015. As an international technology group, the Company focuses on process technology and components for sophisticated production processes in various end-user markets. The Group generates more than 70 percent of its revenue in the food sector that enjoys long-term sustainable growth. As of December 31, 2016, the Company employed about 17,000 people worldwide. GEA is a market and technology leader in its business areas. The Company is listed on the German MDAX (G1A, WKN 660 200). In addition, GEA’s share is a constituent of the MSCI Global Sustainability Indexes. Further information is available on the Internet at gea.com. If you do not want to receive any further information from GEA, please send an email to [email protected]
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.
Cavitation Technologies, Inc.
SOURCE: Cavitation Technologies, Inc.