Cavitation Technologies Inc. (OTCMKTS:CVAT) Stock Moves Up On The License Agreement
Cavitation Technologies Inc. (OTCMKTS:CVAT) was up 3% after the company announced the renewal of its three-year Global R&D, Technology, and Marketing License Agreement with Desmet Ballestra Group s.a. CTi strategic partner for the last ten years.
Market Stats
On Wednesday, CVAT stock jumped 2.84% at $0.1075 with more than 35k shares, compared to its average volume of 631k shares. The stock has moved within a range of $0.1013 – 0.1083 after opening trading at $0.1013.
Renews a 3-Year Global R&D, Marketing and Technology License Agreement
Desmet is currently the licensee and global distributor of Cavitation technology’s nano-based biodiesel production and vegetable oil refining tech.According to the agreement terms, Desmet has exclusive rights and licensee to create, design, and distribute the company’s NANO Neutralization System incorporating Nano Reactor devices and the latest low-Pressure Nano (LPN) globally in oleochemical and fats applications.
Notably, the agreement will expire on October 1, 2024, and it provides for an annual licensing fee of $500,000. Desmet deals with designing, developing, and distributing fats and oils processing equipment in oleochemical, oil refining, seed crushing, biofuel, detergents, and surfactant sectors.Cavitation CFO and COO said Desmet is an important partner to the company in identifying prospects, installing the system, completing sales contracts, and end-user relationship management. So, CVATI is worth watching.
Key Quote
Neil Voloshin, COO and CFO of Cavitation Technologies, Inc., commented, “Desmet has always been fundamentally important partner to us to identify prospects, complete sales contracts, install the system and manage relationships with end-users. We look forward to strengthening this relationship and expanding our technology offering globally with Desmet. I am confident that this agreement will allow more industry players to benefit from our unique, environmentally friendly technology, with a good return on investment to the end-users.”
Traders Corner
CVAT stock is trading above the 20-Day and 50-Day Moving averages of $0.11 and $0.10 respectively. Key pivot supports are 0.0961, 0.0987, 0.1031 and resistances are 0.1101, 0.1127, 0.1171. The stock is up 20% in the past 3-month.
