The ESG space is gaining more and more attention from investors as the world tries to become more environmentally responsible and a company that could be worth looking into is Cavitation Technologies Inc (OTCMKTS:CVAT). The company is involved in the design and manufacturing of flow-through nanotechnology systems meant for fluid processing applications all over the world.
Cavitation Technologies, Inc. and Proppant Technologies, LLC Sign an MOU to Pursue the Implementation of Joint Technologies in Water Remediation
Yesterday, Cavitation Technologies was in the news after it announced that it inked a memorandum of understanding with Proppant Tech Services LLC with regard to a new business opportunity. The two companies are going to use their technologies jointly in a project related to water remediation.
In the press release yesterday, the company noted that the global demand for energy continued to grow and freshwater sources were becoming rarer. In such a situation, the water that is used by the fracking industry has become a burning issue. 90% of fracking fluid consists of water and hence, this is a space that Cavitation Technologies decided to get into.
The company has already developed a range of solutions so that cleaned wastewater could be used in frac sand operations. That could make Cavitation Technologies a major player in the ever-growing fracking industry.