Cavitation Technologies on Wednesday issued a letter to its shareholders saying the foundation that the company has built is starting to produce the results that were anticipated.
The Chatsworth manufacturer of fluid processing systems for making edible oils, renewable fuels, alcoholic beverages and clean water said that it believes it technologies are positioned to enable emerging opportunities in various industries that can provide environmentally conscious approaches that are also economically viable.
 “Further, we think we have just scratched the surface,” said Neil Voloshin, chief operating officer.
Highlights from the year include receiving orders for its technology from a bio-diesel refinery in South America valued at approximately $190,000 and from a vegetable oil refinery in North America, valued at approximately $110,000; completing an equity financing of $1.5 million to accelerate the commercialization of its produced water treatment technology in the Permian Basin, a large oil and natural gas producing area in Texas and New Mexico; and renewing a three-year global license agreement with Desmet Ballestra Group s.a in Paris, which covers worldwide distribution of Cavitation’s technology for oil refining and biodiesel production and provides for a licensing fee of about $500,000 a year.
Shares in Cavitation (CVAT) closed down a fraction of a cent, or about 2.5 percent, to nearly 10 cents on the over-the-counter market.