BALLERUP, Denmark, May 13, 2013 /PRNewswire/ -- LiqTech International, Inc. (OTCQX: LIQT) ("LiqTech"), a clean technology company that manufactures and markets advanced filtration technologies, today announced that it has signed an exclusive agreement to supply SiC membranes for Fan Run Si (Shanghai) Fluid Technology Co., Ltd. ("Fanrunsi"). Under the agreement, Fanrunsi will have exclusivity in China as a buyer of LiqTech's products for soy bean protein recovery (bio tech) and soy bean waste water treatment.
During the exclusive three-year period, Fanrunsi will commit to a minimum purchase order value totaling more than $6 million to maintain their exclusivity for the period. In addition, Fanrunsi has placed a second order of $190,000.
Mr. David Li, Managing Director of Fanrunsi remarked, "We were very pleased with the performance of LiqTech SiC membranes, as they enable Fanrunsi to offer a superior solution to our customers. Some of the operational benefits are reduced total lifecycle cost and reduced downtime, i.e. higher yields. By signing this agreement, LiqTech and Fanrunsi have aligned their objectives for future cooperation."
Fan Run Si (Shanghai) Fluid Technology Co., Ltd. is a professional company engaged in membrane filtration equipment and fluid engineering design and installation.
Mr. Finn Helmer, LiqTech CEO, added, "This agreement and second order is a fast follow up on significant sales to Fanrunsi earlier this year (Announcement made February 19, 2013). Fanrunsi has successfully integrated the LiqTech SiC membranes in its membrane system portfolio for the market of soy bean protein recovery, and we are very pleased about the short time to market Fanrunsi has demonstrated. On behalf of LiqTech; I am pleased to enter this agreement with Fanrunsi, which marks the commitment by both companies."
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.