LiqTech awarded US$2.4mn order for enhanced oil recovery project

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This is LiqTech’s largest-ever order and is expected to be delivered in the second quarter of 2015.

The order was received from LiqTech’s preferred partner Nakasawa Mining and Energy Ltd.

LiqTech CEO Sune Mathiesen said: “We believe this purchase order marks a commercial breakthrough for our products within the oil & gas industry – one of our strategic industries in which we have been proving the benefits of our unique technology for the last four years.”

“LiqTech is currently working with a large number of oil companies, operators and system integrators, predominantly in Europe and the Americas, on membrane projects in phases from initial evaluation to commissioning. Based on customer feedback, we believe that certain additional purchase orders are possible in 2015 for completed oil validation projects, despite low oil prices, given the value proposition our solution provides. We will continue to pursue these orders in addition to opportunities outside of the oil industry,” added Mathiesen

LiqTech has also received a US$350 000 SiC membrane system order from Yara Marine Technologies for delivery later this year. The two companies have agreed to enter a supply agreement for future installations of LiqTech SiC membrane systems for the Yara Marine Technologies exhaust gas cleaning systems.