Business
LiqTech Receives First Middle East Oil and Gas Order and Schedules Business Update Conference Call
Company to Host Conference Call on Thursday, October 7, 2021 at 8:30am ET with Details Included Below BALLERUP, Denmark, Oct. 6, 2021 /PRNewswire/ -- LiqTech
About this update from Liqtech International, Inc.
[{"type":"text","content":"Company to Host Conference Call on Thursday, October 7, 2021 at 8:30am ET with Details Included Below\n\n\nBALLERUP, Denmark, Oct. 6, 2021 /PRNewswire/ -- LiqTech International, Inc. (NASDAQ: LIQT) (\"LiqTech\"), a clean technology company that manufactures and markets highly specialized filtration technologies, today announced the receipt of the Company's first oil and gas order through its joint venture in the Middle East. This initial order is valued at approximately $4.0 million in sales to the joint venture, which is 49% owned by LiqTech and is focused on deploying the Company's proprietary silicon carbide ceramic filtration technology to oil and gas producers in the Middle East to mitigate local water scarcity.\n\n \n \n \n \n \n \n\n \nThe order was received from one of the major oil field services companies in the world, with whom the Company is currently discussing several additional orders. Under the terms of the contract, the customer will be deploying LiqTech's water filtration systems for a fixed monthly rental fee paid to the joint venture. LiqTech will recognize a portion of the profits from the joint venture over the rental term, as well as revenue and profit from the upfront system sales to the joint venture.\n\"This is clearly a significant milestone for LiqTech,\" commented Sune Mathiesen, CEO of LiqTech. \"Not only are we now entering a very large addressable market, this also marks our first entry into a 'build, own and operate' model where we can generate income from both the sale and operation of our water filtration systems.\"\n\"We have worked hard to position ourselves with end-users and key oil service companies in the Middle East. We believe that this is the first of many orders in the region and we currently anticipate further large orders this year. We look forward to the successful deployment of these initial systems and accelerating the adoption of this 'build, own and operate' model through our joint venture.\"\nA conference call to update investors will be held on Thursday, October 7, 2021 at 8:30am ET.\nConference Call Details\nDate and Time: Thursday, October 7, 2021 at 8:30am ET\nCall-in Information: Interested parties can access the conference call by dialing (833) 535-2206 or (412) 902-6741.\nReplay: A teleconference replay of the call will be available until October 14, 2021 at (877) 344-7...