BALLERUP, Denmark and HOUSTON and DHAHRAN, Saudi Arabia, Nov. 17,
2022 /PRNewswire/ -- LiqTech International,
Inc. (NASDAQ: LIQT), a clean technology company that
manufactures and markets highly specialized filtration products and
systems, and National Energy Services
Reunited Corp. (NASDAQ:NESR) (NASDAQ:NESRW), an
international, industry-leading provider of integrated energy
services in the Middle East and
North Africa ("MENA") region, have
entered into a distribution agreement to commercialize LiqTech's
produced water treatment filtration solution for re-injection in
fifteen selected countries throughout the Middle East, Northern Africa and South Eastern Asia.
Leveraging LiqTech's proven ceramic silicon carbide
filtration technologies, the Company's produced water treatment
solution focuses on tertiary water treatment to facilitate
re-injection of clean brine and to meet current and future
regulatory requirements. LiqTech's first commercial test unit for
produced water deployed in May 2022
in Middle East
has successfully operating for the past three months,
over 99% of the feedwater passing through the system is 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.
NESR has close customer relationships and a strong service
organization within the MENA oil & gas industry. As a
National Champion with industry-leading solutions across its
Drilling & Evaluation and Production Services segments, NESR is
always looking to leverage its open technology platform and
unmatched supply chain & personnel localization to bring new
technologies into the region. Through its newest ESG Impact
segment, NESR's goal is to import & jointly develop
technological solutions specifically to help customers enhance
resource stewardship and decarbonization, within which the Water
Treatment subsegment is a primary focus. This agreement with
LiqTech greatly enhances the overall NESR produced water treatment
offering by bringing highly complementary ceramic ultrafiltration
technology.
Fei Chen, CEO of LiqTech
International, commented, "We strongly believe that LiqTech and
NESR are two complementary partners for the produced water
treatment industry. With the combination of LiqTech's unique
silicon carbide ceramic filtration technology and commercial
demonstration in Middle East
region with NESR's current Water treatment technology portfolio and
commercial capability, we look forward to the impact our two
companies can contribute on the sustainable journey of the oil and
gas industry, working together effectively manage water
resource scarcity and climate change."
NESR CEO & Chairman Sherif Foda commented, "We are extremely
excited to be aligned with a global leader in ceramic
ultrafiltration technology, and strongly believe that LiqTech's
solutions are not only complementary to, but also will effectively
complete, NESR's produced water treatment offering currently
underpinned by existing, key technology partnerships in our ESG
Impact segment. Having recently participated in the COP27 & Saudi Green Initiative conferences,
it is clear that produced water management will not only be
critical in transforming the industry from a consumer to a supplier
of water resources to the community, but also represents a key
decarbonization opportunity."
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 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 5,000 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.
NESR Forward-Looking Statements
This communication
contains forward-looking statements (as such term is defined in
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended). Any and
all statements contained in this communication that are not
statements of historical fact may be deemed forward-looking
statements. Terms such as "may," "might," "would," "should,"
"could," "project," "estimate," "predict," "potential," "strategy,"
"anticipate," "attempt," "develop," "plan," "help," "believe,"
"continue," "intend," "expect," "future," and terms of similar
import (including the negative of any of these terms) may identify
forward-looking statements. However, not all forward-looking
statements may contain one or more of these identifying terms.
Forward-looking statements in this communication may include,
without limitation, statements regarding the potential scope and
timing of the financial restatement, plans and objectives of
management for future operations, projections of income or loss,
earnings or loss per share, capital expenditures, dividends,
capital structure or other financial items, the Company's future
financial performance, expansion plans and opportunities, and the
assumptions underlying or relating to any such statement.
The forward-looking statements are not meant to predict or
guarantee actual results, performance, events or circumstances and
may not be realized because they are based upon the Company's
current projections, plans, objectives, beliefs, expectations,
estimates and assumptions and are subject to a number of risks and
uncertainties and other influences, many of which the Company has
no control over. Actual results and the timing of certain events
and circumstances may differ materially from those described by the
forward-looking statements as a result of these risks and
uncertainties. Factors that may influence or contribute to the
accuracy of the forward-looking statements or cause actual results
to differ materially from expected or desired results may include,
without limitation: the amount, scope and timing of any financial
restatement that may be required, information that may be
discovered in the course of the Company's completion of the
reconciliations of its financial results and related analysis; the
ability to recognize the anticipated benefits of the Company's
recent business combination transaction, which may be affected by,
among other things, the price of oil, natural gas, natural gas
liquids, competition, the Company's ability to integrate the
businesses acquired and the ability of the combined business to
grow and manage growth profitably; integration costs related to the
Company's recent business combination; estimates of the Company's
future revenue, expenses, capital requirements and the Company's
need for financing; the risk of legal complaints and proceedings
and government investigations; the Company's financial performance;
success in retaining or recruiting, or changes required in, the
Company's officers, key employees or directors; current and future
government regulations; developments relating to the Company's
competitors; changes in applicable laws or regulations; the
possibility that the Company may be adversely affected by other
economic and market conditions, political disturbances, war,
terrorist acts, international currency fluctuations, business
and/or competitive factors; and other risks and uncertainties set
forth in the Company's most recent Annual Report on Form 20-F filed
with the Securities and Exchange Commission (the "SEC").
You are cautioned not to place undue reliance on
forward-looking statements because of the risks and uncertainties
related to them and to the risk factors. The Company disclaims any
obligation to update the forward-looking statements contained in
this communication to reflect any new information or future events
or circumstances or otherwise, except as required by law. You
should read this communication in conjunction with other documents
which the Company may file or furnish from time to time with the
SEC.
LiqTech Company Contact
Simon Stadil, Chief Financial
Officer
LiqTech International, Inc.
Phone: +45 3140 9128
sst@liqtech.com
LiqTech Investor Contact
Robert Blum
Lytham Partners, LLC
Phone: 602-889-9700
liqt@lythampartners.com
For inquiries regarding NESR, please
contact:
Blake Gendron - VP
Investor Relations & Business Development
National Energy Services Reunited Corp.
832-925-3777
investors@nesr.com
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SOURCE LiqTech International, Inc.