An ultrasonic treatment system having a treatment chamber for treating a formulation to increase the shelf life thereof. In one embodiment, the shelf life is produced by degassing the formulation using the treatment chamber. Specifically, the treatment chamber has an elongate housing through which a formulation flows longitudinally from an inlet port to a first outlet port and a second outlet port thereof. An elongate ultrasonic waveguide assembly extends within the housing and is operable at a predetermined ultrasonic frequency to ultrasonically energize the formulation within the housing. An elongate ultrasonic horn of the waveguide assembly is disposed at least in part intermediate the inlet and outlet ports, and has a plurality of discrete agitating members in contact with and extending transversely outward from the horn intermediate the inlet and outlet ports in longitudinally spaced relationship with each other. The horn and agitating members are constructed and arranged for dynamic motion of the agitating members relative to the horn at the predetermined frequency and to operate in an ultrasonic cavitation mode of the agitating members corresponding to the predetermined frequency and the formulation being treated in the chamber.