BALLERUP, Denmark and HOUSTON and ATHENS, Greece – LiqTech International, Inc. (NASDAQ: NASDAQ:LIQT), a company specializing in filtration technology, has partnered with Franman to market its marine scrubber water treatment solutions in Greece.
The agreement leverages Franman's extensive maritime industry connections within the Greek market, which is recognized as the largest ship-owning market globally.
Franman, established in 1991, has a history of providing equipment, parts, and services to the shipping industry and has equipped over 4,500 new ship builds. The company's reach extends to over 700 shipping companies and more than 180 suppliers.
LiqTech's marine scrubber water treatment systems are designed to meet the discharge limits set by the International Maritime Organization's Marpol VI regulations. These systems are intended to remove contaminants such as unburned fuel oil, soot, ash, and heavy metals from scrubber wastewater, contributing to reduced pollution from shipping activities.
LiqTech has been installing these systems since 2017 and has completed installations on over 170 large commercial vessels, offering ship owners fuel savings and improved return on investment.
Fei Chen, CEO of LiqTech International, expressed optimism about the partnership, citing Franman's deep technical insight and strong customer relationships as key to ensuring effective collaboration in the design and installation of new water treatment systems. Chen also highlighted the potential environmental benefits of combining LiqTech's silicon carbide ceramic filtration technology with Franman's market reach.
LiqTech International, based in Nevada, focuses on ceramic silicon carbide filtration technologies for purifying gases and liquids. Their proprietary technology is used in a variety of applications, including controlling diesel exhaust emissions and purifying water for challenging applications.
The information in this article is based on a press release.
InvestingPro Insights
In light of LiqTech International's strategic partnership with Franman to expand their marine scrubber water treatment solutions in Greece, investors might find the company's financial health and stock performance to be of particular interest. According to real-time data from InvestingPro, LiqTech International currently holds a market capitalization of $15.4 million and has experienced a revenue growth of 12.63% over the last twelve months as of Q4 2023. Despite this revenue growth, the company's operating income margin stands at -43.32%, reflecting the challenges it faces in translating top-line growth into bottom-line results.
InvestingPro Tips for LiqTech International reveal that analysts do not anticipate the company to be profitable this year, and the valuation implies a poor free cash flow yield. This is critical information for investors considering the company's future profitability and cash generation capabilities, especially as it embarks on new partnerships and market expansions. Furthermore, LiqTech's stock has been trading near its 52-week low, which might present a potential entry point for investors who believe in the company's long-term strategy and market position.
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