LiqTech Inks 3-Year OEM Membrane Sales Supply Agreement

LiqTech International Inc 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.