Cavitation Technologies, Inc. and Proppant Technologies, LLC Sign an MOU to Pursue the Implementation of Joint Technologies in Water Remediation

Rhea-AI Summary

Cavitation Technologies, Inc. (CVAT) is excited to announce a new partnership with Proppant Tech Services, LLC, to address water management challenges in the fracking industry. With fracking operations consuming between 600,000 to 2,500,000 gallons of water, the collaboration aims to implement innovative solutions for reusing treated wastewater. This aligns with the growing demand for sustainable practices in oil and gas operations, particularly as the global frac sand market is set to reach $11.4 billion by 2028, primarily in North America. CTi's technology is expected to enhance efficiency and sustainability in frac sand facilities, promoting water recycling and resource recovery.

Positive

• New partnership with Proppant Tech Services to enhance water management in fracking.
• CTi's technology promotes the reuse of treated wastewater, reducing environmental impact.
• Fracking market anticipated to grow to $11.4 billion by 2028, providing potential revenue opportunities.

Negative

• None.

CHATSWORTH, CA, March 27, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Cavitation Technologies, Inc. ("CTi" or the "Company") (OTCQB: CVAT), a leading ESG company, which designs and manufactures innovative flow-through nano-technology systems for fluid processing applications worldwide, is pleased to announce a new business opportunity with Proppant Tech Services, LLC.

As the global demand for new energy sources continues to grow, and fresh water sources become scarcer, the use of water in the fracking industry has become a critical issue. With up to 90% of fracking fluid consisting of water, the amount of water consumed by frac sand facilities is significant, with estimates ranging from 600,000 to 2,500,000 gallons of water per operation in the Permian Basin.

As a result, it is essential to develop alternative strategies for the management of produced water that reduce the overall cost, allow recovery of valuable resources, and reduce the environmental footprint of this industry. That is why CTi, a leading technology company, is at the forefront of creating innovative solutions for the reuse of cleaned wastewater in frac sand operations.

Neil Voloshin, CEO of Cavitation Technologies, Inc., commented: “Developing alternative strategies to manage produced water is of utmost importance. These strategies must aim to reduce costs, enable the recovery of valuable resources, and decrease the environmental impact of this industry. The focus should be on recycling more and using less water.”

Ignacio Martinez, a President of Proppant Tech Services, LLC, added, “Proppant has developed an innovative process and patented technology to clean large volumes of sand for the Oil and Gas industry. CTi’s technology adds an additional advantage to remediate produced water in our process, while we are expecting to increase the volumes of up to 5,000 gallons per minute.”

CTi’s cutting-edge technology can help frac sand facilities become more efficient and sustainable by recycling more and using less water.

According to industry experts, the global frac sand market is expected to reach $11.4 billion by 2028, with a CAGR of 8.24% from 2023 to 2028. It is estimated that 65% of the growth will originate from North America. As this market continues to grow, it is vital to prioritize the development and implementation of sustainable practices, such as CTi's technology, to ensure that we meet the world's growing energy needs while also preserving our natural resources.

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. https://www.cvatinfo.com/

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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, and include statements such as, CTi’s technology adds an additional advantage to remediate produced water in our process, while we are expecting to increase the volumes of up to 5,000 gallons per minute. 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.

Cavitation Technologies, Inc.
818-718-0905
info@ctinanotech.com

FAQ

What is the new business opportunity announced by Cavitation Technologies (CVAT) on March 27, 2023?

Cavitation Technologies announced a partnership with Proppant Tech Services to improve water management in fracking operations.

How does Cavitation Technologies (CVAT) plan to address water issues in fracking?

CTi plans to implement technology that enables the reuse of treated wastewater, significantly reducing water consumption in fracking.

What is the expected growth of the global frac sand market mentioned by Cavitation Technologies (CVAT)?

The global frac sand market is projected to reach $11.4 billion by 2028, with a CAGR of 8.24% from 2023 to 2028.

What is the significance of the partnership between CVAT and Proppant Tech Services?

The partnership aims to enhance the sustainability and efficiency of frac sand facilities by integrating CTi's water treatment technology.