International Cavitation Technologies sells license to NUI Environmental Group
International Cavitation Technologies, Inc. (ICTK) announced that the company has recently completed the sale of a license, with related Service Agreement, to NUI Environmental Group, Inc., a subsidiary of NUI Corporation (NUI). NUI Corporation, based in Bedminster, NJ, is a multi-state energy sales, service and distribution company that has also diversified into other enterprises.
The subject license allows NUI Environmental Group to utilize the proprietary environmental remediation technology owned by ICTK through its wholly owned subsidiary, Big Blue, Inc. The scope of the subject license provides for the dewatering and remediation of contaminated soils and dredged materials in areas of New York/New Jersey and Hungary.
The problem with the disposal of the large quantities of sediment produced by the annual maintenance dredging of the Port of New York and New Jersey, necessary to retain and attract shipping commerce to the region, has been present since the ocean dumping of the material was banned in 1992. The limitation on dredging, as a result of the lack of a sound disposal option, reportedly affects the region's approximately 180,000 jobs and $20 billion in commerce relating to the harbor activity. Federal agencies such as the U.S. Army Corps of Engineers and the U.S. EPA, as well as state and local agencies, have been seeking a cost-effective treatment and reuse alternative.
"We are confident that the NUI Environmental team working with our Ion Collider technology will provide a long-term, cost-effective solution for the dewatering treatment and beneficial reuse of sediments dredged from the regions' waterways," commented Monroe A. Ashworth, III, president of ICTK.
International Cavitation Technologies Inc. of Tulsa, OK owns the 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. The Ion Collider 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.
NUI Corporation, based in Bedminster, NJ, operates natural gas utilities serving more than 375,000 customers in six states along the eastern seaboard. NUI also operates businesses involved in wholesale energy trading and portfolio management; retail energy sales; energy and environmental project development; energy consulting; sales outsourcing; telecommunications; and geospatial and customer information systems and services.
Source: International Cavitation Technologies, Inc.
Edited by Kate Goff
Managing Editor, Solid Waste Online