LiqTech Receives Another US-Based Oil & Gas Produced Water Treatment Order from One of the World's Leading Integrated Energy Companies
BALLERUP, Denmark, Aug. 12, 2024 /PRNewswire/ -- LiqTech International, Inc. (NASDAQ: LIQT), a high-tech filtration technology company that manufactures and markets highly specialized filtration products and systems, today announced the receipt of an order from one of the world's leading integrated energy companies to deliver a pilot system for produced water treatment in the U.S. This produced water treatment order strengthens the relationship between the two companies with the intention to use the results as the basis to design commercial systems for onshore oil and gas applications in the U.S.
"I am extremely pleased with the progress we are making within the broader oil and gas industry, and especially within the U.S. for our state-of-the-art ceramic silicon carbide filtration technologies for liquid purification," commented Fei Chen, CEO of LiqTech. "This order is key for LiqTech as it becomes the second significant produced water treatment order we have received in the U.S. in just the past few months, highlighting the capabilities our systems provide to challenging purification applications. We look forward to meeting the requirements of this customer within this new application, and the significant opportunity it can bring to both parties over the long-term."
The new pilot system is scheduled to be delivered to the customer in the third quarter of 2024 to demonstrate and document the efficiency of LiqTech's unique silicon carbide ceramic ultrafiltration technology in treating produced water to facilitate re-injection and beneficial reuse and meet current regulatory requirements.
Earlier this year, LiqTech received its first U.S.-based order for its containerized pilot system to address produced water treatment filtration for re-injection and reuse, as well as lithium harvest, from Razorback Direct. The system is currently on site with an oil and gas customer to test, demonstrate and document the efficiency in treating produced water to facilitate beneficial industrial reuse and meet current and future regulatory requirements. To date, the system has been running stably for more than two months with test data highlighting that all requirements are being met.
"The U.S. oil and gas industry is increasingly understanding the importance to use produced water to offset freshwater demand both inside and outside the oilfield," Chen continued. "Our solution can be key to reducing OpEx for our customers, and meetings their desire set forth to drive sustainability going forward. With two U.S.-based pilot systems in place that could each turn into multi-system orders, plus the broader industry showcase that each will provide, we believe the opportunity in the U.S. is extremely bright."
ABOUT LIQTECH INTERNATIONAL, INC.
LiqTech International, Inc., a Nevada corporation, is a high-tech filtration technology company that provides state-of-the-art ceramic silicon carbide filtration technologies for gas and liquid purification. LiqTech's silicon carbide membranes are designed to be used in the most challenging purification applications, and its silicon carbide filters are used to control diesel exhaust soot emissions. Using nanotechnology, LiqTech develops products using its proprietary silicon carbide technology, resulting in a wide range of component membranes, membrane systems, and filters for both microfiltration and ultrafiltration applications. By incorporating LiqTech's SiC liquid membrane technology with the Company´s extensive systems design experience and capabilities, LiqTech offers unique, modular designed filtration solutions for the most difficult water purification applications.
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Forward-Looking Statements
This press release contains "forward-looking statements." Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in the reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation, and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
LiqTech Company Contact
Phillip Massie Price, Interim Chief Financial Officer
LiqTech International, Inc.
Phone: +45 31313993
pmp@liqtech.com
LiqTech Investor Contact
Robert Blum
Lytham Partners, LLC
Phone: 602-889-9700
liqt@lythampartners.com
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SOURCE LiqTech International, Inc.
