BALLERUP, Denmark and HOUSTON,
Texas, March 19, 2024 /PRNewswire/ -- LiqTech
International, Inc. (NASDAQ: LIQT), a clean technology company
that manufactures and markets highly specialized filtration
products and systems, today announced that it has received a
flagship order from National Energy Services Reunited Corp.
(NESR), an industry-leading provider of integrated energy
services in the Middle East and
North Africa. The order is for a
commercial pilot unit for the filtration of oil & gas produced
water that will be used and tested for NESR customers in the Gulf
Cooperation Council Countries (GCC).
LiqTech signed a partnership agreement with NESR in November 2022 and have since then worked actively
towards commercializing LiqTech's produced water treatment
filtration solution for re-injection and beneficial reuse across a
range of countries in the Middle
East, Northern Africa and
Southeastern Asia. The
containerized pilot system that NESR has acquired will be used at
customers' site to demonstrate and document the efficiency of
LiqTech's unique silicon carbide ceramic ultrafiltration technology
in treating produced water to facilitate re-injection and
beneficial reuse and meet current and future regulatory
requirements. Longer term, the intention is to use the results and
operational evidence from this pilot to design and implement
full-scale commercial systems.
LiqTech already has one commercial test unit for produced water
in operation that was deployed in May
2022 by a major oil & gas operator in the Middle East. This system has been successfully
operating for nearly two years now with over 99% of the
feedwater passing through it being delivered back as clean
brine/permeate water for reinjection. The quality of the clean
brine/permeate exceeds the performance requirements originally
defined by the end user. Furthermore, the system operates with a
low amount of chemicals and demonstrating excellent energy
efficiency.
Fei Chen, CEO of LiqTech
International, commented, "LiqTech and NESR remain two highly
complementary partners for the produced water treatment
industry in the Middle East and
the recent order marks an important milestone. We continue to see a
large, shared potential in bringing innovative, new technology to
the market that enables operators to use produced water to offset
freshwater demand both inside and outside the oilfield while
reducing OpEx and meeting increasing regulatory and environmental
demands. Getting test units up-and-running is of key strategic
importance to us as it provides us the learning and operational
evidence that we need to secure larger full-scale produced water
projects."
NESR CEO & Chairman, Sherif Foda, commented, "We are very
pleased to collaborate with LiqTech in bringing this pilot unit to
the GCC, the success of which can unlock a vast opportunity set for
the partnership moving forward. NESR is proud to have already made
great strides in bringing next-generation water treatment
technology to the region, and we believe that LiqTech's solution is
highly complementary to the portfolio of Circular Water Solutions
that we have curated and deployed."
About LiqTech International, Inc.
LiqTech International, Inc., a Nevada corporation, is a clean technology
company that provides state-of-the-art ceramic silicon carbide
filtration technologies for gas and liquid purification. LiqTech's
silicon carbide membranes are designed to be used in the most
challenging purification applications, and its silicon carbide
filters are used to control diesel exhaust soot emissions. Using
nanotechnology, LiqTech develops products using its proprietary
silicon carbide technology, resulting in a wide range of component
membranes, membrane systems, and filters for both microfiltration
and ultrafiltration applications. By incorporating LiqTech's SiC
liquid membrane technology with the Company´s extensive systems
design experience and capabilities, LiqTech offers unique, turnkey
solutions for the most difficult water purification
applications.
For more information, please visit: www.liqtech.com
Follow LiqTech on Linkedln:
http://www.linkedin.com/company/liqtech-international
Follow LiqTech on Twitter: https://twitter.com/LiqTech
About National Energy Services Reunited Corp.
Founded in 2017, NESR is one of the largest national oilfield
services providers in the MENA and Asia Pacific regions.
With over 6,000 employees, representing more than 60 nationalities
in over 15 countries, the Company helps its customers unlock the
full potential of their reservoirs by providing Production Services
such as Hydraulic Fracturing, Cementing, Coiled Tubing, Filtration,
Completions, Stimulation, Pumping and Nitrogen Services. The
Company also helps its customers to access their reservoirs in a
smarter and faster manner by providing Drilling and Evaluation
Services such as Drilling Downhole Tools, Directional Drilling,
Fishing Tools, Testing Services, Wireline, Slickline, Drilling
Fluids and Rig Services.
LiqTech 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 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.
NESR Cautionary Statement Regarding Forward Looking
Statements
Statements contained in this press release that are not
historical fact may be forward-looking within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Such forward-looking statements
may relate to, among other things, the Company's expectations
related to its business performance, financial condition and
results of operation. Such forward-looking statements do not
constitute guarantees of future performance and are subject to a
variety of risks and uncertainties. Additional factors that could
cause actual results to differ materially from those projected or
suggested in any forward-looking statements are contained in our
filings with the SEC, including those factors discussed under the
caption "Risk Factors" in such filings.
LiqTech Company Contact
Mads Cordt Gyldenkærne
Head of IR & Marketing
LiqTech International, Inc.
Phone: +45 52271027
mcg@liqtech.com
LiqTech Investor Contact
Robert Blum
Lytham Partners, LLC
Phone: 602-889-9700
liqt@lythampartners.com
For inquiries regarding NESR, please
contact:
Blake Gendron - VP
Investor Relations & Business Development
National Energy Services Reunited Corp.
832-925-3777
investors@nesr.com
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SOURCE LiqTech International, Inc.