Cavitation Technologies, Inc. (CTi) (OTCQB: CVAT) (BERLIN: WTC) is pleased to announce the completion of an agreement to license its patented alcohol beverage technology to Alchemy Beverages Inc. (ABI). This agreement also contains the sale of Cameo USA, LLC. to ABI, including the Cameo Vodka brand, produced in the United States and rated 95 points by The Beverage Testing Institute (tastings.com).
Neil Voloshin, COO/CFO of CTi, confirms, “We are delighted to establish this relationship with ABI and launch the award-winning Cameo Vodka later this year. Through the structure of this agreement, CTi will participate in the success of this venture with a combination of stock ownership and royalty payments.”
As part of this agreement, ABI has acquired patent rights to distribute a home appliance, leveraging the same technology originally applied to the award-winning Cameo Vodka. ABI is proceeding on the design and expects to introduce this product in the second quarter of 2019.
Mark Geist, CEO of ABI, adds, “We are excited to have concluded the agreement with CTi and look forward to both ABI and CTi’s shareholders recognizing the significant economic benefits from the transaction. With the completion of this agreement, we are aggressively moving forward into the next phase which will be the launch of Cameo Vodka later this year, followed by the design and completion of the BarMuze home appliance. Having the advantage of Cameo Vodka being the highest rated vodka produced in the United States and the only vodka in the world to apply Refined Distillation Technology gives us a clear advantage in this multi-billion dollar market.”
Refined Distillation Technology (RTD) is the first completely new technology to be applied to the production of vodka since it was first introduced in the 15th century. This technology reduces harmful impurities, enhances the taste profile, and creates the smoothest most enjoyable spirit on the market today, with the added benefit of reducing the probability of a hangover.
Founded in 2007, the company designs and manufactures state-of-the-art, flow-through, devices and systems as well as develops processing technologies for use in edible oil refining, renewable fuel production, expeditious petroleum upgrading, algal oil extraction, alcoholic beverage enhancement, water treatment, and the extraction of cannabidiol (CBD). As an add-on to its existing neutralization systems, the company’s patented Nano Reactor™ allows refiners to significantly reduce both processing costs and environmental impact, while also increasing yield. http://www.ctinanotech.com/
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