LiqTech International and JiTRI Partner to Revolutionize Marine Water Treatment in China
In a significant move to advance clean technology within the Chinese marine industry, LiqTech International, Inc. (NASDAQ: LIQT), a renowned manufacturer of specialized filtration products and systems, has formed a joint venture (JV) with Jiangsu Marine Equipment Co., Ltd. (JiTRI). This collaboration aims to develop and market cutting-edge membrane-based water treatment equipment for marine ships in China, utilizing LiqTech’s innovative silicon carbide ceramic technology.
The newly established JV company, named Nantong JiTRI LiqTech Green Energy Technology Co., Ltd, will be strategically located in Nantong Haimen, Jiangsu province. LiqTech, as the majority owner, will bring its pioneering marine water treatment solutions to the partnership. JiTRI, as the minority owner, will contribute valuable assets, including facilities, local support, and initial operational and commercial funding.
JiTRI, a prominent Technology and Research Institute in Jiangsu province, is dedicated to fostering innovation and technology commercialization through collaborative efforts and joint investments. Founded ten years ago, JiTRI has established extensive partnerships with industries, universities, and research institutes across the globe, including the U.S., Europe, Australia, Canada, and China. With a focus on key areas such as biotechnology, energy, material science, information technology, and clean technology, JiTRI provides a strong foundation for the success of this joint venture.
LiqTech’s proven track record in marine water treatment is evident with over 170 systems installed worldwide, securing a market share exceeding 20% for marine scrubbers, including both hybrid and closed-loop systems. These systems have gained a reputation for superior efficiency and reliability since their introduction seven years ago. The marine shipping industry is witnessing a shift towards cleaner fuel applications, with a majority of new vessels equipped with dual-fuel engines that necessitate reliable water treatment for exhaust gas recirculation (EGR) systems.
According to Clarkson shipping intelligence and ship engine company data, a projected 400 new vessels are on order between 2024 and 2027 with EGR solutions planned. Additionally, retrofit applications are increasing for LNG-powered vessels, and China holds a dominant 80% share of the global shipbuilding market. This joint venture is strategically positioned to capitalize on the growing demand for clean water technology within this vital sector.
Fei Chen, CEO of LiqTech International, expressed his enthusiasm for the partnership, stating, “I am pleased to have entered this JV with JiTRI, a strong innovation and technology institute in China. By leveraging LiqTech’s water treatment solutions with JiTRI’s unique capabilities within China, we look forward to rapidly expanding our presence in the Chinese marine water treatment market.”
Mr. Luo Benjin, Vice President at JiTRI, highlighted the strategic alignment of the collaboration, commenting, “LiqTech has its roots in Denmark and possesses market-leading silicon carbon membrane technology with an established position in the marine water treatment market. We are excited to collaborate with LiqTech to promote advanced water treatment solutions to accelerate the green transition of the marine shipping industry.”
This strategic alliance between LiqTech and JiTRI marks a significant step towards a cleaner and more sustainable future for the Chinese marine industry. By combining LiqTech’s cutting-edge technology with JiTRI’s local expertise and market reach, the joint venture is poised to drive the adoption of innovative water treatment solutions, contributing to a greener and more environmentally responsible maritime sector in China.
