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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."
