Abstract: A method and apparatus are disclosed for the homogenization of a multicomponent stream including a liquid and a substantially insoluble component, which may be either a liquid or a finely divided solid. The homogenization process is effected by passing the multicomponent, fluid stream through a turbulent shear layer having a substantial velocity gradient there-across and designed such that turbulent vortical eddies generate a cavitating flow regime. The cavitating flow regime allows the generation of vapor bubbles which move downstream into a region of pressure and violently collapse. The violent bubble collapse creates intense pressure pulses which cause the intimate intermixing of the liquid and the substantially insoluble component such that the effluent, a resulting emulsion, has an exceptionally long separation half-life with a very high emulsification coefficient.