LiqTech and Danbee Marine Co. Ltd. Enter Agreement for Marine Scrubber Water Treatment Solutions for the South Korean Market

Rhea-AI Summary

LiqTech International, Inc. (NASDAQ: LIQT) has entered into a partnership agreement with Danbee Marine Co. to market LiqTech's marine scrubber water treatment solutions in South Korea, the world's second-largest shipbuilding market. Danbee Marine, established in 2009, has a strong presence with major ship owners and shipyards in Korea. LiqTech's systems, which outperform IMO Marpol VI discharge limits, have been installed on over 170 large commercial ships since 2017.

The partnership aims to expand LiqTech's presence in the Korean shipbuilding market, leveraging Danbee's extensive network. LiqTech's CEO, Fei Chen, expressed excitement about the opportunity to deliver their advanced solutions to a wider range of ship owners and builders in South Korea, helping them meet regulatory requirements while providing fuel savings and enhanced ROI.

Positive

• Partnership with Danbee Marine expands LiqTech's presence in South Korea, the world's second-largest shipbuilding market
• LiqTech's marine scrubber water treatment systems outperform IMO Marpol VI discharge limits
• Over 170 successful installations on large commercial ships since 2017
• Systems provide fuel savings and enhanced ROI for ship owners

Negative

• None.

News Market Reaction

+6.34%

1 alert

+6.34% News Effect

On the day this news was published, LIQT gained 6.34%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

BALLERUP, Denmark, July 25, 2024 /PRNewswire/ -- LiqTech International, Inc. (NASDAQ: LIQT), a high-tech filtration company that manufactures and markets highly specialized filtration products and systems for marine, and Danbee Marine, a South Korean-based maritime representative to the shipping industry, entered into a partnership agreement with Danbee to market LiqTech's marine scrubber water treatment solutions within South Korea, the second largest ship building market in the world after China.

Established in 2009, Danbee Marine, has been focused on delivering fuel treatment chemicals to reduce fuel consumption and emissions within the Korean maritime market. Danbee Marine has a strong presence and foothold with major ship owners and shipyards with a deep insight into marine engineering and equipment. The addition of LiqTech's compact and efficient marine scrubber water treatment system offering is a synergistic extension of their existing product offerings.

LiqTech's marine scrubber water treatment system for both closed-loop and hybrid scrubbers 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.

"We are excited to expand our presence in the Korean ship building market through this partnership agreement with Danbee Marine who has strong network in the South Korea marine market," commented Fei Chen, CEO of LiqTech International. "As the second largest ship building market in the world, we have had a presence with a small number of key customers, including Hyundai Merchant Marine over the years, but have lacked the large-scale presence across a wide variety of ship builders that Danbee can provide. I look forward to working with the capable team at Danbee to deliver our advanced and proven marine scrubber water treatment solutions to help ship owners and ship builders in South Korea fulfil regulatory requirements."

About LiqTech International, Inc.
LiqTech International, Inc., a Nevada corporation, is a high-tech filtration 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

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 

 

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SOURCE LiqTech International, Inc.

FAQ

What is the partnership between LiqTech International and Danbee Marine Co. ?

LiqTech International (NASDAQ: LIQT) has partnered with Danbee Marine Co. to market LiqTech's marine scrubber water treatment solutions in the South Korean market, which is the second-largest shipbuilding market globally.

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

Since 2017, LiqTech has successfully installed its marine scrubber water treatment systems on more than 170 large commercial ships for many of the world's largest global ship owners.

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

LiqTech's systems outperform IMO Marpol VI discharge limits, remove unburned fuel oil, soot particles, ash, and heavy metals from marine scrubber wastewater, and provide significant fuel savings for ship owners, resulting in enhanced ROI.

How will the partnership with Danbee Marine benefit LiqTech (LIQT)?

The partnership will expand LiqTech's presence in the Korean shipbuilding market by leveraging Danbee Marine's strong network and connections with major ship owners and shipyards, potentially increasing LiqTech's market share in South Korea.