LiqTech International receives USD $6.1 million system order for the removal of heavy metals from industrial waste water
This is the largest order in the history of LiqTech International
BALLERUP, Denmark, June 17, 2015 /PRNewswire/ -- LiqTech International, Inc. (NYSE MKT: LIQT) ("LiqTech") is pleased to announce that the Company has received a $6.1 million order for a complete system to remove heavy metals from the waste water from an international mining company. The system is based on the Company's Ultra Filtration (UF) membranes and also includes pre-treatment and a de-watering unit to further reduce the amount of harmful waste water to be handled. The system is expected to be delivered this year to a European site. Final installation is expected to be completed in the first half of 2016.
Mr. Sune Mathiesen, LiqTech CEO, remarked, "This order is the largest single order ever received by the Company. Our robust SiC membranes are ideally suited for this demanding application. A major part of our business this year has been in applications that require the robustness of our filter. For example, applications for heavy metal removal from industrial waste water and scrubber water systems for power plants and marine applications. This order is in the same family of some of our recent successes and we believe that the increased environmental focus around the world will create additional opportunities for our technology.
"The customer ordered a pilot unit last year and after a successful 3 months trial we entered into negotiations for the complete system. For this order, we believe that our ability to do a complete system installation was essential. We are actively pursuing other opportunities within mining applications and we believe this marks a break through for us in this conservative industry.
"This year, we announced a number of significant orders and new agreements. For example, earlier this year we announced a $2.4 million order for an application within the oil & gas industry, which marked the largest order in the history of the Company to date. The order intake is now at the same level as the total revenue for 2014. In addition, our pipeline of new business has continued to grow in both volume and quality throughout the year.
"We believe these recent orders and improved pipeline demonstrate the turnaround plan we introduced last year is working and we expect coming quarters to show significantly improved revenues and earnings," Mr. Mathiesen 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, Provital Solutions 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.
For more information, please visit: www.liqtech.com
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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 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.
CONTACT:
Wolfe Axelrod Weinberger Associates, LLC
Stephen D. Axelrod, CFA/Don Weinberger
(212) 370-4500, (212) 370-4505 fax
[email protected]
[email protected]
SOURCE LiqTech International, Inc.
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