BALLERUP, Denmark, Sept. 7, 2016 /PRNewswire/ -- LiqTech International, Inc. (NYSE MKT: LIQT) ("LiqTech") is pleased to announce that the Company has entered into a Letter of Intent (LOI) to supply a $1.8 million filtration system for a 100,000 tons per year bioethanol plant to be located in Harbin, Heilongjiang, China. The Letter of intent is subject to execution of definitive documents and financing of the project from a Chinese Investment bank. The filtration system is based on the Company´s ceramic membranes and its newly developed Reverse Osmosis systems.
Mr. Sune Mathiesen, LiqTech CEO, remarked, "We recently announced a Letter of Intent to establish a diesel particulate joint venture factory in China. We have invested significant resources in China over the past 12 months and we are very pleased to be able to announce this Letter of Intent for what will be our largest order for water treatment systems in China to date."
"We are excited to work with Heilongjiang ZhongDan JianJe BioEnergy Co. Ltd. in developing this project. There is a great demand for water treatment systems in China and we are currently working on several other opportunities for drinking water treatment, heavy metal removal and industrial applications. We are encouraged by this recent development and we will continue our efforts for further progress in China," Mr. Mathiesen concluded.
Mr. Torben A. Bonde, Heilongjiang ZhongDan JianJe BioEnergy Co. Ltd. CEO, remarked, "We are very pleased to place this order with LiqTech. We have searched the market for a filtration technology suitable for our water, which contains high amounts of particles. In LiqTech we have found the right partner. The LiqTech ceramic membranes gives us a perfect pre-filtration before our Reverse Osmosis process, and the combination of high flux and the robustness of the membrane gives us the lowest operating expense of any available technology. In LiqTech we also found a partner who could supply not only the pre-treatment but also the Reverse Osmosis system. It´s a great advantage for us to have only one partner for the filtration system and it allows us to have one integrated system instead of two separate systems.
The bioethanol plant is scheduled to be in operation in 2017 and when completed it will be the largest bioethanol production facility in the world. We have been very impressed with LiqTech´s engineering team, commercial staff and management and we are working closely with them in the development of this and future projects." Mr. Bonde concluded.
ABOUT LIQTECH INTERNATIONAL, INC.
LiqTech International, Inc., a Nevada corporation, is a clean technology company that for more than a decade has developed and provided state-of-the-art technologies for gas and liquid purification using ceramic silicon carbide filters, particularly highly specialized filters for the control of soot exhaust particles from diesel engines and for liquid filtration. Using nanotechnology, LiqTech develops products using proprietary silicon carbide technology. LiqTech's products are based on unique silicon carbide membranes, which facilitate new applications and improve existing technologies. In particular, LiqTech Systems A/S (www.provital.dk), the Company's subsidiary, has developed a new standard of water filtration technology to meet the ever increasing demand for higher water quality. By incorporating LiqTech's SiC liquid membrane technology with its longstanding systems design experience and capabilities it offers solutions to the most difficult water pollution problem.
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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.
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SOURCE LiqTech International, Inc.