LiqTech Posts Record Quarter Thanks to Surge of Scrubber Orders

by Ship & Bunker News Team
Friday March 29, 2019

Filtration firm LiqTech International (LiqTech) says it will post record revenues for the first quarter of 2019 thanks to the recent surge of interest in marine scrubbers.

CEO Sune Mathiesen says his firm is benefiting in particular from orders for closed-loop scrubber retrofits, as these require filtration systems such as those sold by LiqTech. 

There is also a growing number of orders from owners looking to convert existing open-loop units to closed-loop or hybrid operation, as well as those looking to fit closed-loop systems on their newbuilds.

"I am very pleased with the progress that LiqTech has made over several years to position itself as a leader in the emerging marine scrubber industry," said Mathiesen.

"We expect to report record quarterly revenues of approximately $7 million for first quarter 2019, with solid profitability. Further, we expect that second quarter 2019 revenue and operating profit will surpass that of the first quarter, driven largely by the continued ramp in shipments from current backlog of our standardized systems for the treatment of waste water from marine scrubbers."

While the industry is currently focused on IMO2020 and sulfur regulations, Mathiesen says the firm is already looking to the next phase in emission regulations and is developing a NOx reduction product for the marine industry.