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Benzinga
Benzinga
Business
Akanksha Bakshi

LiqTech Inks 3-Year OEM Membrane Sales Supply Agreement

  • LiqTech International Inc (NASDAQ:LIQT) signed a 3-year OEM membrane supply agreement with a large European customer for drinking water treatment.
  • The company expects total revenues under the initial term of the contract to exceed $23 million.
  • LiqTech anticipates recognizing ~$3.5 million revenue in 2022, with first revenues commencing in the 3Q22 and the remaining $20 million to be realized in 2023 and 2024.
  • First deliveries under the agreement are expected to occur during the third quarter of 2022, with regularly scheduled deliveries over the 36 months of the contract.
  • The arrangement also includes a mutual renewal option after the original agreement.
  • Price Action: LIQT shares are trading higher by 6.74% at $5.86 on the last check Wednesday.
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