Following the signing of a distribution agreement, LiqTech International Inc. (NASD: LIQT) saw a gain of 2.41% at $0.4199 in after-hours trading on the previous Friday.
Which contract has LIQT signed?
In order to commercialize LiqTech’s produced water treatment filtration solution for re-injection in fifteen chosen countries throughout the Middle East, Northern Africa, and South Eastern Asia, LiqTech (LIQT) and National Energy Services Reunited Corp. (NESR) have entered into a distribution agreement.
LIQT-manufactured water treatment solution focuses on tertiary water treatment to enable the re-injection of clean brine and to satisfy present and future regulatory requirements. It makes use of LIQT’s well-proven ceramic silicon carbide filtering technology. Over 99% of the feedwater traveling through the system is being supplied back as clean brine/permeate water for reinjection.
LIQT’s first commercial test unit for generated water, which was installed in May 2022 in the Middle East, has been running effectively for the last three months. The clean brine/permeate quality exceeds the end user’s initial performance expectations. The system also uses a minimal quantity of chemicals while exhibiting exceptional energy efficiency.
How LIQT will be leveraging the collaboration?
Within the MENA oil and gas sector, NESR has solid client connections and a robust service organization. NESR is constantly trying to use its open technology platform, superior supply chain localization, and industry-leading solutions across its Drilling & Evaluation, and Production Services sectors to introduce new technologies into the area. NESR is a National Champion with these attributes.
The Water Treatment subsegment is the main emphasis of NESR’s newest ESG Impact segment, which aims to import and jointly create technology solutions designed to help clients improve resource stewardship and decarbonization. Through the addition of very complimentary ceramic ultrafiltration technology, this partnership with LiqTech significantly improves the total NESR-generated water treatment offering.
How does LIQT see that partnership?
In LiqTech’s opinion, NESR is a valuable partner for the produced water treatment sector. LIQT will contribute to the sustainable development of the oil and gas industry by combining its distinctive silicon carbide ceramic filtration technology with NESR’s current Water treatment technology portfolio and commercial capability. The two companies will collaborate successfully to manage water resource scarcity and climate change.