LiqTech, the developer of silicon carbide technology, has announced that it has signed a framework agreement with the oil-water separation company APATEQ. The agreement is for the delivery of LiqTech’s ultra-fine filters, made from silicon carbide.
The product will be used in the oil and gas industries. The annual revenue under this agreement is estimated to be approximately $1 million. At the same time, LiqTech also received its first purchase order for $165,000.
Sune Mathiesen, CEO of LiqTech, said: “This framework agreement is an important milestone for us in the marketplace. Companies have started to design their solutions around our technology as they adopt our unique SiC Ultra Fine filters.
“Our technology is new. However, for demanding applications, such as the removal of heavy metals and drinking water applications within the oil and gas industry, we are seeing increasing acceptance of our technology. We are encouraged by the market’s increased acceptance and believe several other original equipment manufacturers should adopt our technology in the near future.”