LiqTech SiC membrane layer system for 8 cu.m/ h– 35 GPM scrubber drainage
As much more proprietors define closed-loop scrubbers, Ballerup, Denmark based LiqTech International,Inc (NASDAQ: LIQT), which produces as well as markets very specialized filtering innovations, has actually won it’s biggest solitary order to day for its exclusive ceramic silicon carbide water filtering systems for aquatic scrubber applications.
According to LiqTech “the order was placed by one of the world’s three largest shipping companies and follows the recent installation and system deployment by this same customer on the two largest containerships in the world.” The brand-new orders are anticipated to be supplied beginning in late 2019, with conclusion in 2020.
Sune Mathiesen, Chief Executive Officer of LiqTech International, stated, “We are very pleased to have received this additional $8.4 million marine scrubber order from one of the world’s largest and most successful shipping companies, as it reinforces LiqTech’s position as a leading supplier of ceramic silicon carbide water filtration systems for marine scrubbers. This particular shipping customer has placed multiple orders over the last three years for LiqTech’s proprietary water filtration systems and we are pleased to report that to date, we have received orders representing over 95% of their planned or completed scrubber installations. We continue to see strength in marine scrubbers as an effective compliance solution to IMO 2020 regulations, particularly from new Asian suppliers who have recently entered the market and are utilizing LiqTech systems as an effective solution for closed loop applications.”
LiqTech claims that, based upon market information, it presently preserves a considerable market share for shut loophole aquatic scrubber filtering installments or intended installments. New governing requireds in China, Singapore as well as various other nations that outlaw in port open loophole scrubbers is driving added need for shut loophole scrubbers. By completion of 2019, market forecasters approximate about 4,000 open loophole installments or intended installments for brand-new ship develops as well as retrofits of which LiqTech thinks that a lot of these open loophole scrubber installments will likely require future conversion to shut loophole systems.
Mathiesen proceeded, “I am pleased that LiqTech continues to strengthen its market leading position for marine scrubbers and with the growth we are seeing in new orders from some of the world’s most prestigious shipowners. Despite the recent market volatility in our share price, we remain focused on managing the business with an eye on both revenue growth and increasing profitability as we continue to implement our new product and margin optimization initiatives. The addressable market opportunity remains strong for our solutions and we continue to receive numerous orders from both new and existing customers which underscores the high quality of the LiqTech system. I look forward to continued progress in the next year and the report of our third quarter financial results in November.”
