Cavitation Technologies, Inc. Announces Purchase Orders for Four Nano Reactor Systems in North America
CHATSWORTH, CA, May 24, 2021 (GLOBE NEWSWIRE) -- via – Cavitation Technologies, Inc. (OTCQB: ) (BERLIN: ) announced that the Company has completed four sales agreements of the Company’s patented Nano Reactor® systems at vegetable oil refineries in North America. The purchase orders come from previous customers and the Company anticipates receiving an aggregate revenue of approximately $730,000 for the systems.
The Nano Reactor® systems are expected to be shipped this fiscal quarter and generating a total revenue of approximately $1.4 million in the Company’s fiscal year ending June 30, 2021, also making it a profitable closing year. Three of the systems are traditional high-pressure reactors while the fourth system is a newly developed low-pressure reactor.
Neil Voloshin, CFO/COO, commented, “We’re starting to witness a recovery in the vegetable oil refining industry. The pandemic led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges and restructuring for our customers. Both domestically and abroad, vegetable oil production rates in 2020 were lowered and this trend continued into early 2021. However, a strong domestic recovery from the pandemic has increased demand for our systems in North America. Internationally, there is good news as well as the global oilseed farming market is expected to grow from $370 billion in 2020 to over $391 billion in 2021, marking a compound annual growth rate of 5.8%. The market is expected to reach $519.28 billion in 2025 at a CAGR of 7%.”
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.
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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 such as, “The market is expected to reach $519.28 billion in 2025 at a CAGR of 7%”. 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.
Cavitation Technologies, Inc.
818-718-1905
