LiqTech Delivers Produced Water Treatment Pilot Unit to NESR for Middle East Operations

Rhea-AI Summary

LiqTech International, Inc. (NASDAQ: LIQT) has successfully delivered a commercial pilot unit for oil and gas produced water filtration to National Energy Services Reunited Corp. (NESR). The PureFlow® system, delivered in June 2024, will be used in Gulf Cooperation Council Countries to demonstrate LiqTech's silicon carbide ceramic ultrafiltration technology. The pilot aims to treat produced water for re-injection and reuse, meeting current and future regulatory requirements.

CEO Fei Chen emphasized the strategic importance of this pilot in showcasing LiqTech's solution performance with reduced OpEx and guaranteed quality. LiqTech already has a full-scale commercial test unit operating in the Middle East since May 2022, demonstrating over 99% efficiency in delivering clean brine/permeate water for reinjection, exceeding performance requirements with low chemical usage and excellent energy efficiency.

Positive

• Successful delivery of commercial pilot unit to NESR for Middle East operations
• Potential for full-scale commercial systems based on pilot results
• Existing full-scale commercial test unit in Middle East showing over 99% efficiency
• Current system exceeds performance requirements with low chemical usage and high energy efficiency

Negative

• None.

Insights

Tech Expert

LiqTech International's recent delivery of a commercial pilot unit for produced water treatment to National Energy Services Reunited Corp. (NESR) marks a notable advancement in the field of water treatment technology. The deployment of the PureFlow® system to the Middle East emphasizes the important role advanced filtration technology can play in addressing the water scarcity issues that plague the oil and gas industry.

From a technological standpoint, the use of silicon carbide ceramic ultrafiltration in the PureFlow® system stands out. Silicon carbide is known for its robustness, chemical resistance and durability, making it an excellent choice for filtering produced water. This technology not only promises reduced operational expenses (OpEx) but also ensures high-quality water output, which is critical for re-injection and reuse purposes.

The success of the unit already in operation since 2022, which has achieved over 99% clean brine/permeate water recovery, is a testament to the system's efficiency and reliability. This performance exceeds the end user's requirements and highlights the system's low chemical usage and energy efficiency, making it an attractive option for regions facing stringent environmental regulations.

Overall, the deployment of the pilot unit could pave the way for the implementation of full-scale commercial systems, potentially leading to significant cost savings and improved sustainability for the oil and gas sector in the region.

Market Research Analyst

The collaboration between LiqTech International and NESR is of strategic importance, particularly given the growing focus on sustainability and regulatory compliance in the oil and gas industry. The Middle East, with its abundant oil reserves and limited freshwater resources, stands to benefit significantly from this technology.

For investors, this partnership and the successful deployment of the PureFlow® system could indicate a strong market potential for LiqTech's technology in the region. The ability to effectively treat produced water not only supports environmental goals but also aligns with the economic interests of oil and gas operators by reducing water treatment costs and enhancing resource reuse.

Additionally, the positive operational results from the existing full-scale unit provide a solid foundation for building investor confidence. The pilot unit's performance will be closely monitored and successful outcomes could translate into larger commercial contracts, driving revenue growth for LiqTech.

In summary, this development could enhance LiqTech's market position and open up new revenue streams, particularly in regions facing water scarcity and regulatory pressures.

Financial Analyst

The successful delivery and deployment of LiqTech International's pilot unit to NESR represent a promising development from a financial perspective. The oil and gas industry is increasingly prioritizing environmental sustainability and cost-effective solutions, which positions LiqTech favorably with its advanced filtration technology.

As the system demonstrates its efficiency and reliability in real-world conditions, it could lead to significant commercial opportunities. This would not only bolster revenue but also enhance LiqTech's reputation and market share in the Middle East. Given the existing full-scale unit's performance, with over 99% of feedwater being treated successfully, there is a solid precedent for the pilot unit's potential success.

On the financial front, investors should monitor the progress of this pilot closely. Positive outcomes could result in lucrative contracts, driving top-line growth and potentially improving profitability. It's also worth noting that the reduced operational expenses associated with the PureFlow® system could attract more clients seeking cost-effective and sustainable water treatment solutions.

In conclusion, while the immediate financial impact may be limited to pilot phase operations, the long-term potential for commercial scalability could significantly enhance LiqTech's financial outlook.

BALLERUP, Denmark and HOUSTON, July 18, 2024 /PRNewswire/ -- LiqTech International, Inc. (NASDAQ: LIQT), a high-tech filtration technology company that manufactures and markets highly specialized filtration products and systems, today announced it has successfully delivered a commercial pilot unit for the filtration of oil and gas produced water to National Energy Services Reunited Corp. (NESR), an industry-leading provider of integrated energy services in the Middle East and North Africa.

The containerized "PureFlow^®" system was delivered to NESR in June 2024 and will be used at customers' sites in the Gulf Cooperation Council Countries (GCC) to demonstrate and document the efficiency of LiqTech's unique silicon carbide ceramic ultrafiltration technology in treating produced water to facilitate re-injection and beneficial reuse and meet current and future regulatory requirements. Longer term, the intention is to use the results and operational evidence from this pilot to design and implement full-scale commercial systems.

Fei Chen, CEO of LiqTech International, commented, "Water shortage is becoming an increasingly important topic for industrial applications across the globe. The oil and gas industry in particular understands how the ability to effectively treat produced water can play a key role in terms of overall sustainability, financial success and regulatory compliance. This pilot unit is of strategic importance to us as it provides the opportunity to demonstrate and document LiqTech's PureFlow® solution performance with its reduced OpEx and guaranteed quality. I am pleased with the progress LiqTech and NESR are making to expand our proprietary, next-generation water treatment technology to the Middle East region."

LiqTech currently has one full-scale commercial test unit for produced water in operation in the Middle East region that was deployed in May 2022 by a major oil and gas operator in the Middle East. This system has been successfully operating for more than two years now with over 99% of the feedwater passing through it being delivered back as clean brine/permeate water for reinjection. The quality of the clean brine/permeate exceeds the performance requirements originally defined by the end user. Furthermore, the system operates with a low amount of chemicals and demonstrating excellent energy efficiency.

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, modularized 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 National Energy Services Reunited Corp.

Founded in 2017, NESR is one of the largest national oilfield services providers in the MENA and Asia Pacific regions. With over 6,000 employees, representing more than 60 nationalities in over 15 countries, the Company helps its customers unlock the full potential of their reservoirs by providing Production Services such as Hydraulic Fracturing, Cementing, Coiled Tubing, Filtration, Completions, Stimulation, Pumping and Nitrogen Services. The Company also helps its customers to access their reservoirs in a smarter and faster manner by providing Drilling and Evaluation Services such as Drilling Downhole Tools, Directional Drilling, Fishing Tools, Testing Services, Wireline, Slickline, Drilling Fluids and Rig Services.

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 purpose of LiqTech's PureFlow® system delivered to NESR?

The PureFlow® system is a commercial pilot unit designed to demonstrate and document the efficiency of LiqTech's silicon carbide ceramic ultrafiltration technology in treating produced water from oil and gas operations for re-injection and beneficial reuse, while meeting regulatory requirements.

When did LiqTech (LIQT) deliver the pilot unit to NESR?

LiqTech delivered the containerized PureFlow® system to NESR in June 2024.

Where will the LiqTech (LIQT) pilot unit be used?

The pilot unit will be used at customers' sites in the Gulf Cooperation Council Countries (GCC) to demonstrate LiqTech's water treatment technology.

What are the performance results of LiqTech's existing full-scale commercial test unit in the Middle East?

The existing full-scale unit, deployed in May 2022, has been operating for over two years with more than 99% of feedwater being delivered back as clean brine/permeate water for reinjection, exceeding the end user's performance requirements.