HOUSTON - LiqTech International, Inc. (NASDAQ: NASDAQ:LIQT), a developer of specialized filtration technologies with a market capitalization of $17.39 million, has secured a significant commercial order for its PureFlow™ mobile units from Houston-based Razorback Direct. The order is a key step in LiqTech's growth within the North American energy sector, coming at a crucial time as the company faces revenue headwinds with a 16.39% decline in the last twelve months. According to InvestingPro analysis, the stock currently trades below its Fair Value, suggesting potential upside opportunity despite recent challenges.
The PureFlow™ mobile units are designed to meet the challenges of water management in energy operations, which often deal with varying water sources, extreme environmental conditions, and remote site locations. The units are fully containerized, automated, and can be controlled remotely, eliminating the need for daily manpower. They can treat raw produced water to achieve 1-3 ppm of oil in water without pretreatment, which is beneficial for direct reuse or desalination processes. While the company maintains strong liquidity with a current ratio of 2.66, InvestingPro subscribers can access 13 additional key insights about LiqTech's financial health and growth prospects through the comprehensive Pro Research Report.
Razorback Direct's President & CEO, Ray Juman, praised the technology for providing efficient and reliable solutions to complex water challenges. The pilot unit's performance led to this commercial order, demonstrating lower waste volumes compared to other technologies like Dissolved Air Flotation systems.
Fei Chen, CEO of LiqTech International, views this order as a milestone that underscores the industry's confidence in their solutions. The PureFlow™ units' design allows them to operate effectively in demanding environments. These units are expected to be delivered in the first quarter of 2025.
LiqTech's silicon carbide membrane technology is known for its durability and performance, suitable for industrial applications requiring reliability and efficiency.
The information in this article is based on a press release statement from LiqTech International, Inc.
In other recent news, LiqTech International revealed a significant 51% decrease in its third-quarter revenue for fiscal year 2024, falling to $2.5 million from $5.1 million the previous year. This decline was primarily due to the postponement of a major water treatment project. Despite this, LiqTech is actively pursuing pilot projects and has announced a joint venture with JiTRI in China. The company's gross margin reported a loss of $0.2 million, and operating expenses decreased to $2.4 million, resulting in a net loss of $2.8 million. However, LiqTech expects Q4 revenue to be between $3.3 million and $4.3 million, with full-year projections ranging from $14.5 million to $15.5 million. The company also completed a $10 million private placement, ending the quarter with a cash balance of over $13 million. These recent developments suggest LiqTech's ongoing efforts to mitigate losses and expand its market reach.
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