International Cavitation Technologies, Inc. Announces `Partnering' Arrangement to Provide for Beneficial Re-Use of Contaminated Material.TULSA, Okla.--(BUSINESS WIRE)--May 25, 1999-- International Cavitation Technologies, Inc. ("ICT (1) (Information and Communications Technology) An umbrella term for the information technology field. See IT. (2) (International Computers and Tabulators) See ICL. 1. (testing) ICT - In Circuit Test. ") (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: ICTK) announced today that one of its operating licensees, Big Blue, Inc. and Zeller International, Ltd. ("Zeller"), a New York corporation doing business throughout the world, have signed a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. regarding an alliance to use Ion Collider col`lid´er n. 1. (Physics) a One stunning application of the technology is the remediation of organic contaminated soils and dredge materials. Among many other projects, the ICT technology was used for the Barge Berman oil spill of heavy Bunker "C" fuel oil at San Juan, Puerto Rico San Juan (IPA: [saŋ hwaŋ]) (from the Spanish San Juan Bautista, "Saint John the Baptist") is the capital and largest municipality on Puerto Rico. and for soil remediation at the Miami International Airport Miami International Airport (IATA: MIA, ICAO: KMIA, FAA LID: MIA) is a public airport located eight miles (13 km) northwest of the central business district of Miami, in unincorporated Miami-Dade County, Florida, United States. . More recently the technology was selected by the State of New Jersey to participate in a Sediment Decontamination decontamination /de·con·tam·i·na·tion/ (de?kon-tam-i-na´shun) the freeing of a person or object of some contaminating substance, e.g., war gas, radioactive material, etc. de·con·tam·i·na·tion n. Demonstration Project designed to identify new technologies for the treatment of dredges from the New York/New Jersey harbor. This propriety technology has proven to be effective and extremely economical when compared to industry accepted methods, and has been used on-site to process large volumes of hydrocarbon contaminated soil and water in a short period of time, with the treated soil being reusable and meeting clean-fill standards. Dr. Gary Zeller, co-founder of Zeller International in 1964, is an environmental consultant, internationally recognized as an "Environmental Renaissance Man." Mr. Zeller is both a creative scientist and an inventor who combines the disciplines of polymer chemistry, plastics, engineering and ecology. A longstanding member of the prestigious Society of Plastics Engineers, "Dr. Z" has pioneered innovative manufacturing, marketing, construction and recycling techniques for many industrial clients around the world. Some of the clients of Zeller include The United Nations, Dow Chemical, The U.S. Army, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Ford Motor Company, General Foods, Sony, Coca-Cola, Johnson & Johnson, The U.S. Army Corps of Engineers and NASA NASA: see National Aeronautics and Space Administration. NASA in full National Aeronautics and Space Administration Independent U.S. . Immediate benefits of this new "partnering" arrangement allow the "marriage" of ICT's technology to decontaminate and Zeller's technology for production of beneficial re-use material of previously contaminated sludges and soils. ICT's technology decontaminates this material and Zeller's technology compacts the same into EcoBlocks(TM). EcoBlocks(TM) are similar in concept to concrete blocks and are used for a wide variety of construction applications. Soil and sediment from a river or harbor bottom can be decontaminated and stabilized by ICT technology and then compacted, reusing the materials without posing any health threats, and with a resulting material cost cheaper than cement. With this new technology, there would be a substantial reduction in the carbon-dioxide emission created by the cement and concrete industries and a very significant reduction in the Green House Effect. "Safe Harbor" statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This release contains forward-looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. |
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