Curated News
By: NewsRamp Editorial Staff
October 28, 2024

Cavitation Technologies, Inc. Provides Corporate Update and Secures Necessary Capital for Future Operations

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Source News Release

TLDR

  • CTi signed an agreement with Desmet Group, SA, which provided necessary capital through patent sales.
  • CTi sold some intellectual property rights related to vegetable oil refining to Desmet, receiving $1.1 million in cash and forgiveness of $400,000 in advances.
  • CTi's water treatment technology reduces operational costs and promotes sustainable farming practices, improving water quality and supporting healthier crop growth.
  • CTi has developed HydroPlasma, a technology combining cavitation and cold plasma to enhance water treatment efficiency, with multiple industrial applications.

Impact - Why it Matters

This news matters as it outlines the challenges and strategic plans of Cavitation Technologies, Inc., providing insight into the company's financial transactions and future operations in the water treatment and remediation industry. The innovative technologies developed by the company have the potential to revolutionize water treatment on a global scale, impacting sustainable solutions in agriculture and industrial applications.

Summary

Cavitation Technologies, Inc. provides a corporate update and letter to shareholders, outlining the challenges faced in 2024 and the strategic plans for the future. The company has entered into a significant transaction with Desmet Group, SA, selling intellectual property rights related to vegetable oil refining to secure necessary capital. The update also highlights the company's water treatment and remediation efforts in the Permian Basin and its innovative technologies, such as HydroPlasma, for enhanced water treatment efficiency.

Source Statement

This curated news summary relied on this press release disributed by NewMediaWire. Read the source press release here, Cavitation Technologies, Inc. Provides Corporate Update and Secures Necessary Capital for Future Operations

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