The company will host a conference call on Thursday, October 7, 2021 at 8:30 a.m. ET with details below
Posted: October 6, 2021 at 3:15 p.m. CDT|Update: 8 hours ago
BALLERUP, Denmark, October 6, 2021 / PRNewswire / – LiqTech International, Inc. (NASDAQ: LIQT) (“LiqTech”), a clean technology company that manufactures and markets highly specialized filtration technologies, today announced the receipt of the company’s first oil and gas order through its joint venture in the Middle East. This first order is valued at approximately $ 4.0 million sales to the joint venture, 49% owned by LiqTech and focused on the deployment of the Company’s proprietary silicon carbide ceramic filtration technology to oil and gas producers in the Middle East to alleviate the local water shortage.
The order was received from one of the world’s leading oil service companies, with whom the Company is currently discussing several additional orders. Under the terms of the contract, the customer will deploy LiqTech’s water filtration systems for a fixed monthly rent paid to the joint venture. LiqTech will recognize a portion of the profits of the joint venture over the lease term, as well as the income and profits from the initial sales of the system to the joint venture.
“This is clearly an important step for LiqTech”, commented Sune Mathiesen, CEO of LiqTech. “Not only are we now entering a very large addressable market, but it also marks our first entry into a ‘build, own and operate’ model where we can generate revenue from both the sale and operation of our systems. water filtration. “
“We have worked hard to position ourselves with end users and major oil service companies in the Middle East. We believe this is the first of many orders in the region and we are currently anticipating further large orders this year. We look forward to the successful deployment of these initial systems and the acceleration of the adoption of this “build, own and operate” model through our joint venture. “
A conference call to inform investors will take place on Thursday, October 7, 2021 To 8:30 a.m. ET.
Conference call details
Date and time: Thursday, October 7, 2021 To 8:30 a.m. ET
Call information: Interested parties can access the conference call by dialing (833) 535-2206 or (412) 902-6741.
Replay: A replay of the teleconference call will be available until October 14, 2021 at (877) 344-7529 or (412) 317-0088, confirmation # 10160947.
About LiqTech International Inc.
LiqTech International, Inc., a Nevada corporation, is a clean technology company providing advanced ceramic silicon carbide filtration technologies for gas and liquid purification. LiqTech’s silicon carbide membranes are designed for use in the toughest water purification applications and its silicon carbide filters are used to control soot emissions from diesel exhaust gases. Using nanotechnology, LiqTech develops products using its proprietary silicon carbide technology, resulting in a wide range of membranes, membrane systems and component filters for microfiltration applications and ultrafiltration. By incorporating LiqTech’s SiC liquid membrane technology with the company’s extensive experience and system design capabilities, LiqTech offers unique turnkey solutions for the most challenging water purification applications.
For more information, please visit www.liqtech.com
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SOURCE LiqTech International, Inc.
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