LiqTech International, Inc
LiqTech International is a clean technology company that designs and manufactures ceramic silicon carbide filtration products and automated purification systems. Its core business spans liquid filtration systems, ceramic diesel particulate filters, and plastic components, with products used in water treatment, marine, industrial, chemical, and oil & gas applications.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueProprietary silicon carbide membranes and filters used in liquid purification and separation.
Integrated systems for pool water, marine scrubbers, industrial wastewater, and process fluids.
Ceramic DPF components used to reduce soot and black carbon emissions from diesel engines.
Machined, welded, bent, and solvent-cemented plastic parts for industrial and life-science customers.
Installation support, spare parts, and service for deployed filtration systems.
Customers
LiqTech sells to commercial and industrial customers that need filtration for aggressive fluids, wastewater, or emissions control. End markets mentioned in reports include commercial pool operators, shipowners and ship operators, oil & gas operators, industrial and chemical processors, mining wastewater users, and steel processing customers. It also serves plastics customers in pharmaceuticals, food & beverage, healthcare, and graphics.
Buys scrubber and water-treatment filtration systems to meet emissions and water-quality requirements.
Buys systems for mining, steel, chemicals, petrochemicals, and heavy-metals removal.
Buys tailored filtration for produced water and related process streams to improve compliance and reuse.
Buys pool water filtration systems and aftermarket support for clean-water performance.
Buys machined and fabricated plastic components for regulated and precision applications.
Strategy
LiqTech is focused on commercializing its silicon carbide technology across end markets with regulatory and sustainability tailwinds. Management is prioritizing new product development, deeper penetration of existing markets, and expansion into adjacent applications through distributors, partners, and localized service capabilities.
Broader use cases can increase the addressable market for the core silicon carbide platform.
The company already has reference customers in marine, pool, wastewater, and oil & gas.
Local service, spare parts, and R&D can improve customer response and execution in key markets.
Geography
Production is centered in Denmark, with offices and operations in the Copenhagen area and Hobro, while the company also maintains U.S. and China presence in Fort Worth, Texas and Nantong/Shanghai. Management says it markets through offices in Denmark plus local representatives and distributors, and customer relationships span more than 25 countries. Geography matters because manufacturing is concentrated in Denmark, but sales, service, and localization efforts are expanding in the U.S. and China.
Risks
The company remains exposed to operating losses, working-capital pressure, and the need for additional funding, which can constrain execution if demand or margins weaken. Its business is also sensitive to trade restrictions, tariffs, geopolitical disruption, energy prices, and supply-chain interruptions because products are manufactured in Denmark and shipped internationally. Cybersecurity, customer payment risk, and asset impairment are additional company-specific risks given its IP-heavy, project-based business model.
- Liquidity and going-concern pressureImpact: HighLikelihood: High
The company has a history of operating losses and may need additional funding to support operations.
Exposure - Trade tariffs and export restrictionsImpact: HighLikelihood: Medium
The company manufactures in Denmark and sells internationally, so tariffs can raise costs and reduce demand.
Exposure: China and cross-border supply chains
- Geopolitical and shipping disruptionImpact: MediumLikelihood: Medium
War, sanctions, and Red Sea/Russia-Ukraine instability can interrupt delivery and customer service.
Exposure: Global shipping lanes and multi-jurisdiction operations
- Energy cost volatilityImpact: MediumLikelihood: Medium
Kiln operations and manufacturing are energy-intensive, so higher power prices can compress margins.
Exposure: Denmark and European manufacturing base
- Cybersecurity and IP protectionImpact: MediumLikelihood: Medium
Proprietary membrane technology and customer data create exposure to theft or disruption.
Exposure
Accounting
Judgemental itemsThe business mixes product sales, installed systems, and aftermarket services, which can have different recognition timing.
Impact: Affects reported revenue, cost of sales, and quarterly comparability
Specialized membranes, DPFs, and system components may require write-downs if demand changes.
Impact: Directly affects gross profit
Installed filtration systems can create future service and replacement obligations.
Impact: Affects gross margin and operating expense estimates
Project customers and international buyers may pay slowly or face financing constraints.
Impact: Affects bad debt expense and operating results
Persistent losses and changing demand can reduce recoverable value of manufacturing assets.
Impact: Can create non-cash impairment charges
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Last updated: 24/09/2026