BALLERUP, Denmark, Dec. 2, 2022
/PRNewswire/ -- LiqTech International, Inc. (NASDAQ:
LIQT), a clean technology company that manufactures and
markets highly specialized filtration products and systems, today
announced the receipt of a $0.5
million order for a complete filtration system related to
monoethylene glycol ("MEG") recovery in the oil & gas industry.
This order is the first of a two-part order for an offshore project
for a U.S. oil major operating in Europe. The system is expected to ship in
2023. The system will deploy LiqTech's robust silicon carbide (SiC)
membrane technology that offers unique technical advantages for
this application.
MEG is widely used by oil and gas producers in wellheads and
pipelines to prevent hydrate formation in pipeline conditions. In
deep water offshore gas production facilities, where the exposure
to lower temperatures in subsea pipelines is common, MEG is used
for hydrate inhibition. Together with the customer, LiqTech has
already demonstrated the SiC membrane technology performance
on-site and has verified significant performance improvements to
the MEG regeneration process when compared to other membrane
technologies.
This is the first system order for this customer, who has
identified several additional offshore sites as potential
candidates for installations in 2023.
Fei Chen, CEO of LiqTech,
commented, "We are very pleased to have received this significant
system order for a MEG recovery application, which expands the
market potential of LiqTech's SiC membrane technology within the
oil and gas industry. By efficiently recovering MEG, the customer
will benefit from reduced greenhouse gas emissions and energy
consumption. We are proud to make this ESG impact contribution. We
look forward to delivering this first system order in early 2023
and working closely with the customer for potential installations
at additional sites."
ABOUT LIQTECH INTERNATIONAL,
INC.
LiqTech International, Inc., a Nevada corporation, is a clean 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, turnkey
solutions for the most difficult water purification
applications.
For more information, please visit:
www.liqtech.com
Follow LiqTech on Linkedln:
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 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.
Company
Contact:
|
Investor
Contact:
|
Simon Stadil, Chief
Financial Officer
|
Robert Blum
|
LiqTech
International
|
Lytham Partners,
LLC
|
Phone: +45 3140
9128
|
Phone: (602)
889-9700
|
sst@liqtech.com
|
liqt@lythampartners.com
|
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SOURCE LiqTech International, Inc.