LiqTech International, Inc. Receives First Silicon Carbide Membrane Order From Emerging Algae Market Participant - Estimates Place the Global Algae Biomass Market Between 3.5 and 5 billion Euros -
BALLERUP, Denmark, March 3, 2014 /PRNewswire/ -- LiqTech International, Inc. (NYSE: LIQT) ("LiqTech") is pleased to announce that the Company received a purchase order of approximately USD 300,000 for a prototype system based upon the LiqTech SiC membranes. The algae system will be based on a new development in the membrane technology from LiqTech.
The prototype system will be used to concentrate an algae stream as a part of the harvesting process. Preliminary tests have shown that the LiqTech SiC membranes offer a higher throughput, high algae concentration and require less energy compared to other membrane products.
Mr. Finn Helmer, LiqTech CEO, remarked, "The algae market has been identified as one of our major emerging market opportunities. A number of industries ranging from oil companies, chemical companies, pharmaceuticals and others, have identified opportunities in harvesting algae. More efficient harvesting processes are required to reduce production cost and the use of SiC membranes will be a key element in reducing cost thereby improving profitability for the end-users."
"LiqTech is currently active in this field in Australia, North America, Europe and the Middle East, working together with market leading players. We expect to see more orders for prototype systems and we are actively bidding for a few large projects."
ABOUT THE ALGAE MARKET
The global algae biomass market is worth between 3.5 and 5 billion € (EURO), with a high level of SME (small and medium sized enterprises) participation. Of this total, the health food sector accounts for €1.5 billion and the aquaculture applications account for €0.5 billion. For additional details about the algae market, please go to: http://www.algaemax.eu/more-in-detail.html
The algae market is expected to grow substantially as improved growth, harvesting and refining processes are developed.
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. It also manufactures ceramic silicon carbide kiln furniture. 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. For more information, please visit www.liqtech.com.
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.
SOURCE LiqTech International Inc