LiqTech Receives an Order from a Leading Technology Company for Lithium Brine Production in the U.S.

Rhea-AI Summary

LiqTech International (NASDAQ: LIQT) has secured an order from a leading technology company for lithium brine production in the U.S. The company's ultrafiltration (UF) membrane technology will serve as a pre-treatment step for enhancing the ion exchange process in lithium extraction. The system demonstrates superior performance in small-scale tests and will be delivered in Q4 2024. This development aligns with the growing demand for lithium in electric vehicle batteries, where traditional production methods need replacement with more efficient technologies.

Positive

• Secured new commercial order for lithium brine production technology
• Successfully completed small-scale tests demonstrating superior performance
• Expanding into growing EV battery materials market
• Scheduled delivery in Q4 2024 confirms near-term revenue potential

Negative

• None.

Insights

Technology & Clean Energy Analyst

This initial commercial order marks a significant strategic advancement for LiqTech in the critical lithium production sector. Their ultrafiltration membrane technology addresses a important bottleneck in lithium extraction from brines, which is essential for meeting growing EV battery demand. The technology's ability to enhance ion exchange processes could potentially accelerate lithium production rates while maintaining environmental standards.

The timing is particularly strategic as the U.S. seeks to establish domestic lithium supply chains. While the order size isn't disclosed, securing a contract with a leading technology company validates LiqTech's technology and could open doors to larger opportunities in the $7.5B lithium filtration market. The scheduled Q4 2024 delivery suggests potential revenue recognition in early 2025.

For a small-cap company like LiqTech ($10.8M market cap), successful deployment could lead to follow-on orders and industry adoption, particularly as lithium demand is projected to grow 500% by 2030.

BALLERUP, Denmark, Nov. 13, 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 the receipt of an order from a leading technology company for lithium brine production in the U.S.

Electric vehicles are powered by batteries that rely on lithium, an indispensable metal that uniquely enables a wide variety of electrode chemistries with high volumetric energy density and fast charging. The broad adoption of electric vehicles requires a substantial increase in lithium production. To realize this electric future, traditional methods of lithium production must be replaced with new technology that can deliver higher rates of production while meeting basic environmental standards. Brine resources hold a substantial amount of the world's lithium, but until now, the lack of a scalable extraction technology has hindered their development. One of the suitable solutions for lithium brine extraction is ion exchange. LiqTech ultrafiltration (UF) membrane filtration technology shows the huge potential to be an excellent pre-treatment step for enhancing downstream ion exchange process.

"I am very excited with this commercial order. In the past months, we have conducted a couple of small-scale tests at customer sites in the U.S. and illustrated superior performance of our UF membrane filtration technology for lithium brine production," commented Fei Chen, CEO of LiqTech. "This order provides a unique opportunity for LiqTech to demonstrate our UF technology robustness and efficiency in challenging onsite situations. We look forward to meeting the requirements of this customer within this new application, and to seeing the significant opportunity it can bring to both parties over time."

The new commercial system is scheduled to be delivered to the customer in the 4^th quarter of 2024.

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, modular designed filtration 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

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 latest order received by LiqTech (LIQT) in November 2023?

LiqTech received an order from a leading technology company for lithium brine production systems in the United States.

When will LiqTech (LIQT) deliver the new commercial system for lithium brine production?

The new commercial system is scheduled for delivery in the fourth quarter of 2024.

What technology does LiqTech (LIQT) use for lithium brine production?

LiqTech uses ultrafiltration (UF) membrane filtration technology as a pre-treatment step to enhance the downstream ion exchange process for lithium extraction.

What market is LiqTech (LIQT) targeting with its lithium brine filtration technology?

LiqTech is targeting the electric vehicle battery market, where lithium is an essential metal for battery production.