ICTK=LAST TIME IT RAN FROM THIS SPOT TO .47 ON NEWS
A MONTH AND HALF AGO...JUST SOMETHING TO WATCH
ICTK Announces Strategic Alliance for Coal Industry
TULSA, Okla.--(BUSINESS WIRE)--Aug. 17, 2001--International Cavitation Technologies, Inc. (OTCBB:ICTK) today announced the formation of a strategic alliance with Meridian Ionic, Ltd. ("MIL"), a division of Meridian Hydrocarbons, Inc., to jointly develop and market their proprietary "Ion Collider" technology to the coal industry.
In previous laboratory testing, ICTK's patented Ion Collider(TM) "ionized" coal water wash resulted in a significant reduction in the amount of ash and sulfur content in the coal. These reductions directly result in a cleaner-burning coal with a higher BTU capacity. Mr. Gerald M. Brother, president of MIL, added: "There is a tremendous demand for new 'clean' coal-burning technology. With more than one billion tons of coal being burned annually by U.S. utility and manufacturing facilities alone, which results in some 115 million tons of ash/waste, there is literally an unlimited market for cleaner-burning coal. The Ion Collider(TM) proprietary process of washing the coal with ionized water can significantly increase the value of the coal."
Under the terms of the strategic alliance, MIL and ICT will work in conjunction to market the Ion Collider technology, initially to the steel and cement industries, and eventually to the utility corporate coal end-users. "Enhancing and improving coal-burning efficiencies will be a major economic and environmental asset to the continuing use of coal as a long-term, abundant and acceptable fuel," stated Monroe A. Ashworth III, president of ICTK. "Based on the remarkable results we have seen from our research testing, we anticipate a rapid development of the Ion Collider's application in the coal industry," concluded Ashworth.
International Cavitation Technologies Inc. owns six different patents and the worldwide rights to proprietary technology with a vast array of applications, including enhanced oil and gas production, dredging, environmental remediation, separation, waste minimization, wastewater treatment, air-conditioning and a variety of oil field applications. ICTK currently has licensing agreements in place with several companies. Ion Collider(TM) technology has proven its ability to remove contaminants from a variety of matrices in significantly less time and at lower costs than traditional environmental technologies. Additional information concerning ICTK can be found on the Internet at www.ioncollider.com.
This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Although International Cavitation Technologies, Inc. believes the expectations contained in such forward-looking statements are reasonable, no assurance is given that such expectations will prove correct. This information may involve risks and uncertainties that could cause the actual results of International Cavitation Technologies, Inc. to differ materially from the forward-looking statements. Information on factors that may affect the business and financial results of the Company can be found in filings of the Company made with the SEC.
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