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. reports news on its clean-technology filtration business, including ceramic silicon carbide membranes, membrane-based liquid filtration systems, diesel particulate filters and plastic components. Company updates commonly address QlariFlow™ commercial pool filtration systems, system orders, regional partnerships and deployments for public, institutional and commercial aquatic facilities.
Recurring announcements also cover quarterly and annual results, revenue trends in systems and aftermarket activity, cash and profitability measures, and governance changes such as board appointments. The company's releases connect its filtration platforms to end markets that require water treatment, emissions control and specialized industrial components.
LiqTech International, Inc. (NASDAQ: LIQT) has signed a distribution agreement with Silicon Filter, enhancing its market reach in China for phosphoric acid purification. This partnership aims to leverage LiqTech's advanced filtration systems, which utilize unique silicon carbide membranes, to improve efficiency and product quality in various industries such as food, pharmaceuticals, mining, and automobile batteries. The CEO, Fei Chen, highlighted the significance of China as a major phosphoric acid market. LiqTech's proprietary technology is designed for challenging purification applications, offering a unique solution for water purification needs.
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.