CDT Systems completes deal for Australian expansion
Capacitive Deionization Technology Systems Inc., of Dallas, completed a $400,000 financing transaction with Dockland Sciences Park Party LTD. and Bell Potter Asset Management group in Melbourne, Australia.
DALLAS, July 26, 2004 (PRNewswire-FirstCall) -- Capacitive Deionization Technology Systems Inc. (CDT Systems), of Dallas, completed a $400,000 financing transaction with Dockland Sciences Park Party LTD. and Bell Potter Asset Management group in Melbourne, Australia.
With this investment, Dockland Sciences receives a first right of refusal to establish a joint venture in Australia with CDT Systems, Inc. to market CDT water treatment systems in Australia and New Zealand. The joint venture would also include a future option to assemble CDT AquaCells in Australia.
The transaction is based on a three-year, 10% debenture convertible to CDT Systems Inc. common stock at a price of $0.50 per share.
CDT Systems Inc. entered into an engineering and manufacturing and marketing license agreement with Lawrence Livermore National Laboratories in 1997, whereby the company obtained rights to Lawrence Livermore's capacitive deionization patents and technology for water applications.
CDT Systems has focused on enhancing the technology and establishing a volume manufacturing process while commercializing CDT. The company is currently in negotiations to establish a production facility in Texas.
The company also recently established a joint venture with Air Water Inc. in Japan, whereby Air Water will expand its current marketing rights to include assembly of AquaCells in Japan.