BALLERUP, Denmark, Nov. 7, 2024
/PRNewswire/ -- LiqTech International, Inc. (NASDAQ: LIQT),
a clean technology company that manufactures and markets highly
specialized filtration products and systems, and Jiangsu Marine
Equipment Co., Ltd. ("JiTRI"), have established a joint venture
("JV") to develop and sell membrane-based water treatment equipment
for marine ships in China using
our silicon carbide ceramic technology. The JV company, named
Nantong JiTRI LiqTech Green Energy Technology Co., Ltd, will
be located in Nantong Haimen, Jiangsu province.
LiqTech will be the majority owner of the JV, contributing its
pioneering marine water treatment solutions. JiTRI will be a
minority owner and contribute facilities, local support, and with
the initial operational and commercial funding.
JiTRI (Jiangsu Industrial Technology Research Institute) is a
Technology and Research Institute in Jiangsu province with the aim of promoting
innovation and technology commercialization through partnership and
joint investment. JiTRI was established ten years ago and has built
extensive collaborations with industries, universities, and
research institutes in the U.S., Europe, Australia, Canada, and China. JiTRI has several key focus areas such
as biotechnology, energy, material science, information technology,
and clean technology.
LiqTech has more than 170 marine water treatment systems
installed around world and holds a market share greater than 20%for
marine scrubbers, including both hybrid and closed-loop systems.
LiqTech's marine water treatment systems benefit from a strong
reputation since their introduction seven years ago, having
demonstrated superior efficiency and reliability.
The marine shipping industry is moving towards cleaner fuel
applications, with the majority of new vessels equipped with
dual-fuel engines that require reliable water treatment for the
exhaust gas recirculation (EGR) systems. According to Clarkson
shipping intelligence and ship engine company's published date, in
2024-2027, 400 new vessels are on order with EGR solutions planned.
In addition, retrofit applications are increasing for LNG-powered
vessels, and China possesses
approximately 80% of the global ship building market.
Fei Chen, CEO of LiqTech
International, commented, "I am pleased to have entered this JV
with JiTRI, a strong innovation and technology institute in
China. By leveraging LiqTech's
water treatment solutions with JiTRI's unique capabilities within
China, we look forward to rapidly
expanding our presence in the Chinese marine water treatment
market."
Mr. Luo Benjin, Vice President at JiTRT, commented, "LiqTech has
its roots in Denmark and possesses
market-leading silicon carbon membrane technology with an
established position in the marine water treatment market. We are
excited to collaborate with LiqTech to promote advanced water
treatment solutions to accelerate the green transition of the
marine shipping industry."
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
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.
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.