Welcome to our dedicated page for Liqtech Internat news (Ticker: LIQT), a resource for investors and traders seeking the latest updates and insights on Liqtech Internat stock.
LiqTech International, Inc. (Nasdaq: LIQT) is a clean technology and high-tech filtration company that regularly issues news about its ceramic silicon carbide membrane and filtration activities. Its updates highlight developments across water treatment systems, marine applications, commercial swimming pool filtration, industrial wastewater projects, and its Ceramics and Plastics segments.
Investors and observers following LIQT news can read about record commercial pool filtration sales based on the QlariFlow™ platform, orders for advanced membrane-based systems to treat oily wastewater, and progress in the Water for Energy segment focused on produced water recycling and complex industrial wastewater. The company also reports on pilot units for applications such as lithium brine production pretreatment and oil and gas water treatment.
LiqTech’s news flow includes announcements related to its marine water treatment activities, including its joint venture in China, Nantong JiTRI LiqTech Green Energy Technology Co., Ltd., and Jitri LiqTech. These items cover marine scrubber systems, dual-fuel engine water treatment solutions, and the construction of a marine-focused R&D test center and localization facility in Haimen, Nantong, as well as a regional spare parts warehouse.
Regular press releases also provide quarterly financial results, commentary on revenue trends in water systems, ceramics, plastics, and DPFs, and information on geographic initiatives such as the establishment of a service center in Texas in partnership with Halldor Systems. For users tracking LIQT, the news page offers a centralized view of operational milestones, segment performance, joint venture developments, and other corporate announcements over time.
LiqTech International, Inc. (NASDAQ: LIQT) reported a 13% revenue decline to $16.0 million for 2022, with a net loss of $(14.2) million. Q4 2022 revenue rose by 22% sequentially to $4.0 million, while operating expenses decreased by 37% year-over-year, aiding a reduced net loss of $(2.2) million. LiqTech appointed a new CEO and secured significant orders in the oil and gas sector and wastewater treatment. The company aims for approximately $4.0 million revenue in Q1 2023. Ending cash balance stood at $16.6 million amid ongoing operational adjustments to improve profitability.
LiqTech International, Inc. (NASDAQ: LIQT), a clean technology company, will report its financial results for Q4 and fiscal year 2022 on March 22, 2023, before market opening. A conference call will follow at 9:00 a.m. ET to discuss these results. The company specializes in ceramic silicon carbide filtration technologies for gas and liquid purification, catering to challenging water purification needs and controlling diesel exhaust emissions. LiqTech's proprietary technology aids in developing advanced filtration systems, emphasizing its role in environmental sustainability.
LiqTech International, Inc. (NASDAQ: LIQT) has secured a $0.5 million order for four commercial swimming pool water filtration systems in New Zealand, extending an earlier supply from 2020. The systems utilize LiqTech's Aqua Solution® membranes, known for their superior performance, lower energy consumption, and reduced space requirements compared to traditional sand filtration. CEO Fei Chen highlighted that this repeat order reflects the effectiveness of their commercial strategy aimed at recurring business. The company anticipates similar results throughout 2023.
LiqTech International (NASDAQ: LIQT), a clean technology firm, announced that Esra Eray, their Product Manager of Membranes, received the 2022 DAKS PhD Prize for her thesis on silicon carbide membranes for wastewater treatment. This annual award recognizes the best PhD thesis on ceramics from a Danish university, underscoring the quality of research within the company. CEO Fei Chen highlighted the importance of investing in research and development for sustainable solutions, while VP Malte Eriksen expressed excitement about the potential impact of Eray’s work on the industry.
LiqTech International (NASDAQ: LIQT) has announced a distribution agreement with Singapore-based Liquinex to supply its silicon carbide ceramic membranes for water treatment solutions. This partnership aims to enhance operational efficiencies in addressing water scarcity and climate change in Southeast Asia. Liquinex, with expertise in advanced water and wastewater treatment technologies, has previously utilized LiqTech's membranes in various applications including industrial water recycling and humanitarian efforts. LiqTech's CEO highlighted the strengthened collaboration as a move toward innovative water solutions.
LiqTech International has announced a cooperation agreement with Ecolotron Wastewater Solutions for a unique solution to purify crude phosphoric acid. This collaboration integrates Ecolotron's E-FLOC technology and LiqTech's silicon carbide ceramic ultrafiltration system, aiming to enhance the production process. They have filed a joint patent application for this combined technology. According to CEO Fei Chen, the solution will improve efficiency and product quality in the phosphoric acid industry, building on positive results from their first commercial test unit in the USA.
LiqTech International, Inc. (NASDAQ: LIQT) has announced a $0.5 million order for a filtration system to recover monoethylene glycol (MEG) in the oil and gas industry. This order, part of an offshore project for a U.S. oil major in Europe, marks the first system order for the customer, with additional installations anticipated in 2023. The system will utilize LiqTech's advanced silicon carbide (SiC) membrane technology, which has shown superior performance in MEG regeneration. The delivery of the system is expected in 2023, contributing to enhanced ESG practices.
LiqTech International (NASDAQ: LIQT) and National Energy Services Reunited Corp. (NASDAQ: NESR) have signed a distribution agreement for LiqTech's produced water treatment filtration solution, targeting fifteen countries in MENA and Southeast Asia. LiqTech’s filtration technology aims at re-injecting clean brine, meeting regulatory standards. Their commercial test unit has successfully treated over 99% of feedwater, surpassing quality benchmarks. NESR will leverage its industry relationships to integrate this advanced technology into its water treatment services, enhancing their ESG Impact segment.
LiqTech International, Inc. (NASDAQ: LIQT) reported Q3 2022 revenue of $3.3 million, down 20% from Q3 2021. The company's net loss narrowed to $(1.8) million from $(2.9) million year-over-year. Operating expenses decreased to $2.4 million, a 19% decline from the prior quarter. The company maintained a strong cash balance of $17.6 million. Subsequent highlights include successful system deployments in the oil and gas sector and the launch of the Aqua Solution® membrane for swimming pools. The company expects Q4 revenue to be at the low end of its prior guidance.
LiqTech International, Inc. (NASDAQ: LIQT) appointed Tobias Baldrian Madsen as Head of Strategy and Business Intelligence, effective December 1, 2022. With a strong background in business development and industrial knowledge, Madsen's role aims to advance the company's commercial strategies based on sound business intelligence. He has previously held positions at Grundfos, Deloitte, and Augury. CEO Fei Chen emphasized the importance of this appointment for defining the market focus and ensuring rapid execution of strategies.