BALLERUP, Denmark, Jan. 6, 2015 /PRNewswire/-- LiqTech
International, Inc. (NYSE MKT: LIQT) ("LiqTech") is pleased to
announce that the Company has received a USD $2.4 million purchase order for a system based on
the Company's SiC membranes which
is expected to be delivered in the second quarter-2015.
This order is part of an enhanced oil recovery (EOR) project and
was received from LiqTech's preferred partner, Nakasawa Mining and
Energy Limited. This order represents LiqTech's largest order
in the Company's history.
Mr. Sune Mathiesen, LiqTech CEO,
remarked, "We believe this purchase order marks a commercial
breakthrough for our products within the oil & gas industry –
one of our strategic industries in which we have been proving the
benefits of our unique technology for the last four years. LiqTech
offers SiC membranes that are unmatched for many oil & gas
applications. This specific application is ideal for
LiqTech's membranes due to its more efficient separation of oil and
water as compared to conventional separation technologies. We
believe the end-user will benefit from improved quality of critical
water streams, thus reducing operating costs and increasing oil
production. Our customer is pursuing additional installations
for the next two to three years."
"LiqTech is currently working with a large number of oil
companies, operators and system integrators, predominantly in
Europe and the Americas, on
membrane projects in phases from initial evaluation to
commissioning. Based on customer feedback, we believe that
certain additional purchase orders are possible in 2015 for
completed oil validation projects, despite low oil prices, given
the value proposition our solution provides. We will continue to
pursue these orders in addition to opportunities outside of the oil
industry."
"We have been working on this order for several months and
initially we expected to see the order realized in the fourth
quarter-2014. Notwithstanding the delay, we are very pleased to
receive the order," Mr. Mathiesen concluded.
In addition, LiqTech is pleased to announce that the Company received a USD $350,000 SiC membrane system order from Yara
Marine Technologies to be delivered this year. The product solution
is based on LiqTech know-how acquired in the on-shore power
industry for the treatment of wet scrubber wastewater containing
heavy metals. New marine regulations related to reducing
sulphur oxide emissions became effective January 2015. In
order to comply with these new regulations, ship owners have to
either burn a more expensive low sulphur fuel oil or to clean the
exhaust from heavy fuel oil combustion engines. Yara Marine
Technologies (previously Green Tech Marine) has many years of
experience offering high performance exhaust treatment technologies
for the marine industry.
Yara Marine Technologies and LiqTech have agreed to enter a
supply agreement for future installations of LiqTech SiC membrane
systems for the Yara Marine Technologies exhaust gas cleaning
systems.
ABOUT LIQTECH INTERNATIONAL, INC. (NYSE MKT: LIQT)
LiqTech International, Inc., a Nevada corporation, is a clean technology
company that develops and supplies proprietary silicon carbide
filtration technologies for gas and liquid purification. LiqTech's
highly specialized nanotechnology silicon carbide liquid membranes
and filters are used primarily for water purification/filtration
and for the control of soot exhaust particles from diesel
engines. LiqTech also supplies small-scale, integrated water
filtration systems for the swimming pool and large water park
market segments through its Provital brand, using its proprietary
silicon carbide filter technology and offering customers a new
standard for higher water quality. For more information, please
visit www.liqtech.com.
ABOUT PROVITAL SOLUTIONS A/S
Provital Solutions A/S is a Danish company headquartered in
Hobro, Denmark. Provital has
developed the "Provital Filtration System," a new standard of water
filtration technology to meet the increasing demand for higher
water quality. The employees of Provital are highly experienced
within the field of water filtration. Provital's filtration systems
are designed for local public swimming pools or large water parks
and achieve a higher standard for water treatment technology by
incorporating advanced LiqTech silicon carbide liquid filtration
membranes that offer significantly higher flux as compared to other
filter types. The Provital System focuses on the reduction of water
use in back washing and reduced energy consumption, chlorine use,
and maintenance expense. For more information, please visit
www.provital.dk/.
Follow LiqTech on LinkedIn:
http://www.linkedin.com/company/liqtech-international
Follow LiqTech on Twitter: https://twitter.com/LiqTech
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 our 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.
CONTACT:
Wolfe Axelrod Weinberger Associates, LLC
Stephen D. Axelrod, CFA/Donald C. Weinberger
(212) 370-4500, (212) 370-4505 fax
steve@wolfeaxelrod.com, don@wolfeaxelrod.com
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SOURCE LiqTech International, Inc.