BALLERUP, Denmark, Sept. 27, 2016 /PRNewswire/ -- LiqTech International, Inc. (NYSE MKT: LIQT) ("LiqTech") is pleased to announce that the Company has received an order for silicon carbide diesel particulate filters from Kailong High Technology ("Kailong") for $2,360,000 as part of the framework agreement made between the parties earlier this year.
The order is the second order from Kailong and the first order after LiqTech and Kailong have signed a Letter of Intent to establish a Joint Venture for production of silicon carbide filters in China. We expect to commence initial deliveries in late 2016.
Zang Zhicheng, Chairman of Kailong stated: "Kailong is very excited of the potential of the Joint Venture in China and we believe that there is a significant potential for the new Kailong SCR Systems and LiqTech Silicon Carbide Diesel Particulate Filters. We have presented the new systems to some of our customers and they are now starting to place the first orders for these products.
We believe that in starting to fulfill orders, Kailong will have the benefit of being one of the first companies to deliver After Treatment Systems that comply with the new Chinese emission standards."
Aldo Petersen, Chairman of LiqTech stated: "We are very pleased to receive the second order from Kailong. We are impressed on how fast Kailong is ready to serve the Chinese market."
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.
Aldo Petersen, Chairman,
+45 2390 0000, email@example.com
Sune Mathiesen, CEO
+45 5197 0908, firstname.lastname@example.org
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SOURCE LiqTech International, Inc.