Chatsworth, CA, Feb. 16, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Cavitation Technologies, Inc. (OTCQB: CVAT ) (BERLIN: WTC ) announces an Agreement with Partnership International, Inc. (“PI”) -- an international consulting firm specializing in infrastructure projects that promote sustainable development through renewable energy and clean water supply/treatment investments. Through this Agreement, Partnership International, Inc., will assist CVAT in securing strategic partnerships, financing, and grants for the Company’s patented water applications and technologies.
Neil Voloshin, CFO/COO of Cavitation Technologies, Inc., stated, “Over the last several years we have made great progress in developing water treatment technologies and applications. Specifically, our joint venture with Enviro-Watertek, LLC. was immensely successful in the treatment of fracked and produced water. Now with the help of Partnership International, Inc. this agreement expands the utilization of our water treatment applications into sectors such as desalination, ballast water, reclamation water in agriculture, produced water and renewable fuels. We believe the addition of our technology in these sectors presents economic value to the company while also providing maximized returns for shareholders. We’re excited to be working with Partnership International and ready to execute our business goals in 2021 and moving forward.”
Tracy Mathieu, Vice President of PI, commented, “Water purification is expensive, requires a lot of energy, leaves a terrible carbon footprint, and is a global problem. We feel that CVAT’s patented processes and technologies provide a viable solution to this global problem. Not only is CVAT’s innovative technology compact, modifiable, and sustainable in the global market-place, it requires no harsh chemicals, adds zero emissions, and uses minimal off-grid energy. We’re happy that through this agreement, we can help CVAT expand into new sectors with an initial focus on climate vulnerable areas. We have filed the first grant for CVAT’s water application technology with the Department of Interior, Bureau of Reclamation, for a desalination project of $500,000. We believe projects like these present extraordinary opportunities for CVAT to demonstrate the value of their technology in promoting sustainable development.”
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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About Partnership International, Inc.
Partnership International Inc., established in 1990, comprises a team of experts that provide regulatory, institutional, technical, commercial and financial advisory services to clients on projects that promote sustainable development through infrastructure investments. PI is recognized for delivering pragmatic, market-driven solutions for public and private clients across multiple industries and sectors. Through offices in Washington, DC, and in the field, our staff targets meaningful sectoral reforms to stimulate sustainable economic growth in developing and emerging markets worldwide.
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 such as, We believe the addition of our technology in these sectors presents economic value to the company while also providing maximized returns for shareholders. 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.