LiqTech and Dan Marine Group Enter Agreement to Expand Marine Water Treatment Solutions to the Chinese Market

Rhea-AI Summary

LiqTech International, Inc. (NASDAQ: LIQT) has entered into a partnership agreement with Dan Marine Group (DMG) to expand its presence in the Chinese market for marine water treatment solutions. This partnership aims to provide solutions for marine scrubber water treatment and new exhaust gas recirculation systems for dual fuel vessels. LiqTech's advanced filtration products have been successful in reducing pollution and fuel consumption in the marine industry.

Positive

• LiqTech has successfully installed marine scrubber water treatment systems on over 170 commercial ships, leading to significant fuel savings for ship owners and enhanced return on investment.

• The partnership with Dan Marine Group will help LiqTech expand its presence in the Chinese shipbuilding and repair market, leveraging DMG's strong sales and service network in the region.

Negative

• There may be challenges in ensuring the successful implementation and servicing of the marine water treatment systems in the Chinese market due to regulatory, logistical, or competitive factors.

BALLERUP, Denmark and HOUSTON and SHANGHAI, May 7, 2024 /PRNewswire/ -- LiqTech International, Inc. (NASDAQ: LIQT), a clean technology company that manufactures and markets highly specialized filtration products and systems for marine, and Dan Marine Group (DMG), an Asian-focused provider of high quality products and after sales services to marine and offshore industry customers worldwide, have entered into a partnership agreement to expand LiqTech's presence in the Chinese shipbuilding and repair market for marine scrubber water treatment solutions and new exhaust gas recirculation (EGR) water treatment systems for duel fuel marine vessels. The agreement also includes the servicing by DMG of existing LiqTech marine installations, including fast delivery of spare parts and on-site repair work.

DMG is a rapidly growing organization formed in 2005, specializes in sourcing, manufacturing, reconditioning, distributing and supplying of marine diesel and auxiliary engine spares, deck machinery equipment. DMG has close customer relationships in the marine industry, and a strong sales and service organization in China with locations close to customers for shipbuilding and repair. They are highly specialized within maritime to support owners, shipyards and scrubber manufacturers with supply of new installations and spare parts.

LiqTech has developed a compact and efficient marine scrubber water treatment system for both closed-loop and hybrid scrubbers that outperforms discharge limits regulated by the IMO Marpol VI. LiqTech's solutions remove unburned fuel oil, soot particles, ash, and heavy metals from marine scrubber wastewater and take an active role in reducing world pollution. Since LiqTech's first marine installations in 2017, the Company has successfully installed retrofit and new-build marine scrubber water treatment systems on more than 170 large commercial ships for many of the world's largest global ship owners. Furthermore, ship owners have gained tremendous fuel savings leveraging LiqTech's water treatment units, providing for enhanced ROI.

Fei Chen, CEO of LiqTech International, commented, "Dan Marine Group is a significant player in the Chinese marine market with extensive sales and service presence. The combination of LiqTech's unique silicon carbide ceramic filtration technology and commercial demonstration of the many installed water treatment systems in marine, and DMG highly skilled engineering capabilities to design, install and service market-proven marine water treatment systems, provide ship owners an opportunity to enhance sustainability through emissions reduction and the transition to new and clean marine fuels. We look forward to the potential success our two companies can make."

Eric Shao, Managing Director of Dan Marine commented, "As a leading scrubber water treatment maker for marine application, LiqTech International provides complete solutions for both hybrid and close loop scrubber systems to address our discharge challenges globally. We are thrilled & proud to work with LiqTech, with a strong belief that our joint effort of maritime emission control will enrich our ESG as well as business development. Working together, we for sure will achieve more."

About LiqTech International, Inc.

LiqTech International, Inc., a Nevada corporation, is a clean technology company that provides state-of-the-art ceramic silicon carbide filtration technologies for gas and liquid purification. LiqTech's silicon carbide membranes are designed to be used in the most challenging purification applications, and its silicon carbide filters are used to control diesel exhaust soot emissions. Using nanotechnology, LiqTech develops products using its proprietary silicon carbide technology, resulting in a wide range of component membranes, membrane systems, and filters for both microfiltration and ultrafiltration applications. By incorporating LiqTech's SiC liquid membrane technology with the Company's extensive systems design experience and capabilities, LiqTech offers unique, turnkey solutions for the most difficult water purification applications.

For more information, please visit: www.liqtech.com  

Follow LiqTech on Linkedln: http://www.linkedin.com/company/liqtech-international  

Follow LiqTech on Twitter: https://twitter.com/LiqTech

About Dan Marine.
Dan Marine Group is a rapidly growing organization formed in 2005, with foundation companies Dan Marine (Far East) Ltd. from Hong Kong, Dan Marine Shanghai Ltd. in P.R. China, and DMA Nantong Ltd. in Jiangsu Nantong. Dan Marine Group and its subsidiaries aim to provide reputable & high quality products and after sales services globally, to our Marine and Offshore industry customers. Dan Marine Group has formed partnerships with companies around the globe to ensure that professional and timely services are available to its valued customers – Round the World, Round the Clock.

LiqTech Forward-Looking Statements
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.

LiqTech Company Contact                                                     
Phillip Massie Price, Interim Chief Financial Officer       
LiqTech International, Inc.                                 
Phone: +45 31313993                                                   
pmp@liqtech.com                                                                    

LiqTech Investor Contact                                                       
Robert Blum
Lytham Partners, LLC                                      
Phone: 602-889-9700
liqt@lythampartners.com          

For inquiries regarding Dan Marine, please contact:
Eric Shao

Managing Director  / Dan Marine (Far East) Ltd.

T: +86 21 60898599 * 6199  /  F: +86 21 60898599 * 6198 

M: +86 137 0193 8728 (China)  +1 617 470 9833 (States)

eric@dan-marine.com

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SOURCE LiqTech International, Inc.

FAQ

What is the partnership agreement between LiqTech and Dan Marine Group?

LiqTech International, Inc. (NASDAQ: LIQT) and Dan Marine Group have entered into a partnership agreement to expand LiqTech's presence in the Chinese market for marine water treatment solutions, focusing on marine scrubber water treatment and new exhaust gas recirculation systems for dual fuel vessels.

How many ships have LiqTech installed marine scrubber water treatment systems on?

LiqTech has successfully installed these systems on over 170 commercial ships, leading to significant fuel savings for ship owners and enhanced return on investment.

What are the benefits of LiqTech's marine scrubber water treatment solutions?

LiqTech's solutions remove unburned fuel oil, soot particles, ash, and heavy metals from marine scrubber wastewater, thus actively reducing world pollution and providing fuel savings for ship owners.

Who is Dan Marine Group and what is their role in the partnership?

Dan Marine Group (DMG) is an Asian-focused provider of high-quality products and services to the marine and offshore industry. In this partnership, DMG will help LiqTech expand its presence in the Chinese shipbuilding and repair market by providing engineering capabilities and after-sales service for marine water treatment systems.