BALLERUP, Denmark, Jan. 14, 2019 - LiqTech International, Inc. (NYSE AMERICAN: LIQT) ("LiqTech"), a clean technology company that manufactures and markets highly specialized filtration technologies, today provided an update to the market on its confirmed orders and other operational highlights. Additionally, the Company has scheduled a conference call for today, Monday, January 14, 2019, at 9:00 am ET to further discuss the market update. Details can be found below.
- The Company currently has confirmed orders for more than 110 of its standardized water filtration systems; an increase from more than 50 systems announced in mid-November 2018.
- In addition to the confirmed orders, the Company expects to deliver a significant amount of systems in 2019 under the Framework Agreement announced on October 1, 2018.
- The Company reaffirms expectations that revenue during the first quarter of 2019 will be a Company record, driven by fulfillment of orders from current backlog.
- The Company reaffirms expectations to be solidly profitable in the first quarter of 2019 and onwards.
- Positive visibility to order flow delivery affirms expectations for the second quarter of 2019 revenue to surpass the first quarter of 2019, setting another new record for the company.
- The Company remains on track from a manufacturing standpoint to meet all planned deliveries for the first half of 2019.
- The Company's cash position at the end of December 2018 was approximately $3.8 million, largely unchanged since the end of June 2018.
"The interest in LiqTech's proprietary ceramic silicon carbide water filtration systems for marine scrubber applications is extremely high," commented Sune Mathiesen, CEO of LiqTech International. "During the last couple of months, we made significant progress increasing our confirmed order backlog, which now stands at more than 110 confirmed water filtration systems, and successfully ramping up our manufacturing capacity to meet this increased demand. Further, the market dynamics continue to favor our solutions, as this week China banned the use of open loop scrubbers, following the path that Singapore implemented late last year. We believe this will continue to drive increased demand for closed loop and hybrid scrubbers, which include a water treatment option."
"We continue to be ideally positioned to capitalize on IMO 2020 with a superior product offering, attractive value proposition to marine vessel operators, strong partnerships with leading scrubber manufacturers, and positive industry trends towards the use of water treatment options to accompany marine scrubbers. We are carving a path to a market leadership position and look forward to the continued growth in our business in the coming years," concluded Mr. Mathiesen.
Conference Call Details
Date and Time: Monday, January 14, 2019 at 9:00 am ET
Call-in Information: Interested parties can access the conference call by dialing (833) 535-2206 or (412) 902-6741.
Replay: A teleconference replay of the call will be available until January 21, 2018 at (877) 344-7529 or (412) 317-0088, confirmation #10127409.
Transcript: A transcript of the call will be available on the investor relations section of the LiqTech website following the conclusion of the call at https://www.liqtech.com/investor-relations/.
About LiqTech International Inc.
LiqTech International, Inc., a Nevada corporation, is a clean technology company that for more than a decade has developed and provided state-of-the-art technologies for gas and liquid purification using ceramic silicon carbide filters, particularly highly specialized filters for the control of soot exhaust particles from diesel engines and for liquid filtration. Using nanotechnology, LiqTech develops products using proprietary silicon carbide technology.
LiqTech's products are based on unique silicon carbide technology which facilitate new applications and improve existing technologies. LiqTech offers a wide range of filters and membranes for micro- and ultrafiltration, and by incorporating LiqTech's SiC liquid membrane technology with the Company´s long-term systems design experience and capabilities, LiqTech offers solutions to the most difficult water pollution problems.
For more information, please visit www.liqtech.com
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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.
Sune Mathiesen, Chief Executive Officer
LiqTech International, Inc.
Phone: +45 5197 0908