In California, Cavitation Technologies, Inc. announced that Desmet Ballestra Group, CTi’s strategic partner since 2010, has entered into a new sales agreement with a bio-diesel refinery in South America. This sales contract becomes fully effective after Desmet Ballestra and the refinery fulfill certain technical specifications. This particular refinery processes approximately 100MGPY of Bio-Diesel and the company anticipates system installation in the first quarter of CTi’s fiscal year 2017.
This bio-diesel order marks CTi’s first bio-diesel system sale in South America, a region that provides enormous business opportunity for the company’s line of products and allowing bio-diesel producers to have greater efficiency and productivity. According to data provided by the International Energy Agency (IEA) worldwide bio-fuel production has reached approximately 35BGPY and is expected to grow at the rate of 3-5% annually.
