Bullish indicating open at $55-$60, IPO prices at $37
CHATSWORTH, Calif. - Cavitation Technologies, Inc. (OTCQB:CVAT) has entered into an agreement with Canadian environmental solutions provider BMI Group for the distribution of its PFAS removal technology, according to a press release statement issued Monday. The company, which has seen its stock surge over 380% in the past year according to InvestingPro data, maintains impressive gross profit margins of 82%.
Under the agreement, BMI Group will hold certain exclusivity rights within its territory and must achieve a minimum of $1 million in annual sales. The initial shipment of both the High-Pressure Nano-Reactor and Cavitation Non-Thermal Plasma systems has already been delivered. With a healthy current ratio of 3.77 and moderate debt levels, InvestingPro analysis suggests the company is well-positioned to support its expansion plans.
The collaboration aims to address the removal of per- and polyfluoroalkyl substances (PFAS), commonly known as "forever chemicals," from water supplies. These substances have been linked to environmental and health concerns due to their persistence.
"PFAS contamination is one of the most persistent and costly environmental challenges of our time," said Neil Voloshin, CEO of Cavitation Technologies, in the statement.
The company’s technology combines hydrodynamic cavitation with non-thermal plasma to break down PFAS compounds. According to the company, the system operates at 25 gallons per minute (GPM) with potential for higher flow rates, and can be integrated into existing infrastructure.
The technology is designed to eliminate the need for secondary waste disposal, which is a limitation of conventional PFAS treatment methods such as Granular Activated Carbon and Ion Exchange that merely transfer contaminants from water to solid media.
BMI Group, founded in 2005, specializes in the design, construction, and operation of water and wastewater treatment facilities across North America.
Cavitation Technologies, established in 2007, develops flow-through nano-technology systems for various fluid processing applications, including water treatment, agriculture, and oil refining. The company has demonstrated solid growth with revenue increasing 11.4% over the last twelve months. Unlock 12 additional InvestingPro Tips and comprehensive financial metrics to better understand CVAT’s growth potential and market position.
In other recent news, Cavitation Technologies announced its expansion into the Bitcoin mining cooling sector. The company is introducing its Cavitation Non-Thermal Plasma system to the immersion cooling market for cryptocurrency mining. This technology is designed to tackle issues such as dielectric fluid degradation, contaminant buildup, and waste fluid disposal in cooling systems used for mining operations. These developments are part of Cavitation Technologies’ broader strategy to innovate within the cryptocurrency sector. The company’s move into this market reflects a focus on addressing technical challenges faced by miners. This expansion represents a significant step for Cavitation Technologies as it seeks to diversify its applications. The company aims to provide more efficient solutions for the cryptocurrency mining industry.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.