LiqTech International Inc (NYSEAMERICAN: LIQT) is having an overwhelmingly strong day in the market today, and for good reason. The company announced that it has entered into a framework agreement that is exciting investors. Today, we’ll talk about the agreement, what we’re seeing from the stock, and what we’ll be watching for with regard to LIQT ahead.
LIQT Gains Big On Framework Agreement
As mentioned above, LiqTech International is having an incredibly strong start to the trading session this morning after announcing that it has entered into a framework agreement. In a press release issued early this morning, the company announced that it has signed a framework agreement with one of the world’s largest manufacturers of marine scrubbers.
In the press release, LIQT said that the initial term for the framework agreement is 2018 and 2019. The company said that it is expecting for an estimated 95 systems to be delivered during this initial term. However, the agreement may be renewed for an additional one-year term at the end of 2019. In a statement, Mr. Sune Mathiesen, CEO at LIQT, had the following to offer:
We are very pleased to sign this framework agreement. We have been working hard to position ourselves in this emerging industry, and this framework agreement with one of the largest manufacturers of marine scrubbers proves to us that our long-term investments into this market have been the right choice. We are continuing to establish relationships with ship owners and manufacturers of marine scrubbers.
Following the IMO decision to implement a new lower global cap of sulphur emissions from international shipping, we have been following the industry closely. Marine scrubbers offer a very attractive business case for ship owners, and we now see that more and more ship owners are investing in scrubbers. We have made significant investments into this industry for 4 years, and as one of the pioneers in treatment of waste water from marine scrubbers our technology has proven well suited for this demanding application. We have continually improved our system and today we offer a very competitive product in terms of foot-print, delivery time, performance, Capex savings and Opex savings.
We believe that this framework agreement marks a turning point for us and we believe that it significantly changes the outlook for our business.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In this particular case, the news was overwhelmingly positive. So, it’s no surprise that excited investors are pushing the stock toward the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:53), LIQT is trading at $0.53 per share after a gain of $0.12 per share or 29.79% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on LIQT. In particular, we’re interested in following the performance of this agreement as it has the potential to drive a good amount of revenue for the company. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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