LiqTech International Signs Framework Agreement With A New OEM Customer For The Delivery Of Ultra Fine SiC Membranes And Housings
First Purchase Order of USD $165,000 Received From the Customer
Estimated Annual Revenue of Approximately $1 Million
BALLERUP, Denmark, June 15, 2015 /PRNewswire/ -- LiqTech International, Inc. (NYSE MKT: LIQT) ("LiqTech") is pleased to announce that it has signed a framework agreement with the Luxemburg based company APATEQ S.A. The framework agreement is for the delivery of LiqTech's SiC Ultra Fine filters and housings for use in the oil and gas industry. The annual revenue under this agreement is estimated to be approximately $1 million. At the same time, the Company also received its first purchase order for $165,000.
Mr. Sune Mathiesen, LiqTech CEO, remarked, "This framework agreement is an important milestone for us in the marketplace. Companies have started to design their solutions around our technology as they adopt our unique SiC UF filters. Our technology is new. However, for demanding applications, such as the removal of heavy metals and drinking water applications within the oil & gas industry, we are seeing increasing acceptance of our technology.
"We are encouraged by the market's increased acceptance and believe several other OEMs should adopt our technology in the near future," 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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About APATEQ S.A.
Engineers and manufactures turn-key, custom designed oil-water separation systems for oilfield operators, compact wastewater treatment plants for demanding applications and pre-treatment systems for industrial wastewaters. With decades of experience in water and wastewater treatment and global industrial product manufacturing and commercialization, APATEQ's corporate and technical team is comprised of dedicated experts whose focused goal is environmental protection, water conservation and client satisfaction.
Forward-Looking Statement
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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