Cavitation Technologies, Inc. (CTi) Announces Appointment of Todd Zelek as Chief Executive Officer
LOS ANGELES, June 16, 2011 /PRNewswire/ — CTi (OTCBB: CVAT, Frankfurt, Berlin & Stuttgart:WTC). Cavitation Technologies, Inc. (the “Company”) is pleased to announce Todd J. Zelek as the new Chairman and Chief Executive Officer. Mr. Zelek is replacing Roman Gordon, who will become the Company’s Chief Technology Officer. Mr. Zelek is a private investor and has over 20 years of experience as an investment banker, most recently as Managing Director and Group Head at Lehman Brothers where he was responsible for the Los Angeles office and in charge of the Firm’s Global Internet Practice. He was formerly a Managing Director at Salomon Brothers heading the Firm’s Thrift Industry Practice. Mr. Zelek has an A.B. from Cornell University where he was a member of Phi Beta Kappa and an M.S. from the Sloan School of Management at MIT.
Commenting on his appointment, Mr. Zelek said, “It is a very exciting time for the Company. We have leveraged our patented technology to commercialize a device called the Nano Neutralization(TM) Reactor, which dramatically reduces costs and improves yields in the vegetable oil refining process and is currently being marketed to soybean oil refineries. Our patented technology can be utilized to process other vegetable oils and also has potential applications in waste water treatment, renewable fuel production and alcoholic beverage enhancement. We plan to drive growth by creating strategic partnerships, similar to our relationship with Desmet Ballestra, to capture significant opportunities within multiple markeCavitation Technologies, Inc.(OTCBB:CVAT.OB – News) is an early-stage development company that designs and engineers environmentally friendly NANO Technology-based systems that have potential commercial applications in large, growing, global liquid process application markets such as vegetable oils processing and refining, renewable fuels, crude oil yield enhancement, alcoholic beverage enhancement, and algae oil extraction. Our mission is to apply our environmentally friendly technology in a way that potentially helps clients reduce operating costs, increase yields, and improve quality in liquid process applications.
This press release contains forward-looking statements, including without limitation statements and information about the Company’s business, plans and strategies. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of business, economic and competitive market conditions; business decisions by suppliers, licensees and customers concerning the Company’s technologies and products; the Company’s ability to develop new or additional technologies and applications in various fields and industries and to stimulate customer demand for its technologies and products; the size and growth of markets for the Company’s technologies and products; the Company’s ability to implement patent licensing and marketing strategies, including execution of revenue generation strategies and models; the continued availability of essential components and services that are currently obtained from sole or limited sources; the Company’s ability to protect its intellectual property in world markets; the success of business relationships with suppliers, licensees and customers; the timing and success in completing research & development projects, whether existing or new patent applications will be granted; the potential for infringement of the Company’s intellectual property by others; the ability of the Company to fund its capital requirements; and its ability to attract and retain key personnel.
Additional information on potential factors that could affect the Company’s performance or financial results is included from time to time in the Company’s public reports filed with the SEC. The Company assumes no obligation to revise or update any forward-looking statements or information, which are effective or apply only as of their respective dates of publication.
NOTE TO EDITORS: For additional information, visit CTi’s website at www.ctinanotech.com.
References to CTi, the CTi logo, Nano Reactor(TM) system, Nano Reactors(TM), Nano Neutralization(TM) and other terms that describe the Company’s technologies, applications, processes and products are trademarks of the Company. Other company and product names may be trademarks of their respective owners.