LIQT - Earnings call transcript Q3 2017 | LiqTech International, Inc.

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Operator

Greetings, and welcome to LiqTech International Third Quarter 2017 Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Mr. Axelrod Wolfe of Weinberger Weinberger Associates. Donald you you, may begin. Thank

Donald Weinberger

ended to you the business to Thank nine results you, formal conference developments. of shortly. welcome and months and will quarter discuss Melissa Aldo today's Petersen, and begin all call the third XX, Chairman; September XXXX for the recent financial remarks to

will me following the that Before the I listeners session. call turn Q&A call, over be there remind open to them, let an conference

call XXXXXXXX. access one enter note questions will order X:XX all and question. to also a additional questions, please the please the listeners to number, ID to welcome and that access number an ID today your on of this XXXXXXXX. individuals questions. dial please conference their available should at had limit callers, the opportunity be and dial You ask for P.M. December replay question starting all follow-up same X, have the XXX-XXX-XXXX one to for ending opportunity ask reply and the ask the the questions, After international To you're have XXXX. to In enter To initially XXX-XXX-XXXX replay, for

with the release statements. bear a please I The call and contains for read Now as forward-looking minute conference me press statements. forward-looking

that to the We Commission, all materially release no with uncertainties all materialize, and the begin on cash be order or flows. We reflect call. please We disclosures conference vary prove therefore dispensed that the statements to call. any and reports advice date the remarks. including Aldo, faith call. interested various as and obligation known or date carefully of may Although the update not of that, listeners statements to and the operations any press urge one unknown forward-looking sales Risk our risks release may are the therefore to the the financial affect that from filed assume assumptions to actual more actual with consider of to with and release reflect or to call which may forward-looking business, the these or place or to condition circumstances the pleasure only reliance those of Securities review and and speak results If in incorrect, risks parties and if these our the his listeners Exchange attempt conference after and Aldo good and the Factors results underlying risks it's made judgment this of the those statements of conference uncertainties forward-looking conference from may subject of management, urge discussed and inherently forward-looking cause in projected. statements, different Petersen events that arise materially expected have my this date proceed. Having undue in

Aldo Petersen

we we and morning a ladies are and are a and approval working good technologies discuss afternoon, seeing gentlemen, our quarter is on to Steve, you, have lot to this time Thank a in time. happening call the and conference This where of been things for third of results. significant long a that LiqTech good

and CEO, over I Mathiesen; development our discuss turn I please? conference renewed Sune, Mr. recent the to LiqTech. Sune will to think in result the business

Sune Mathiesen

all the to everybody quarter first our International afternoon much very and discuss Europe. Thank to very participants business. conference warm good and from the all, outlook dialing Aldo, into participants of to much, results you Thank and the third a XXXX call U.S. this for from good for morning LiqTech you

about readdress our like for and opportunities water to expectations, Solutions, business. Provital manufacturer a we transform supplier acquired a and for in company from the ago we near-term largely business I today years water systems. the component supplier We for speak strategy to our have Three decided treatment results line long-term Our were the our would third and of systems. quarter into treatment with

Over identifying lot of The within scale for now number the and makes where We've of have power references technology agriculture, large be specified difference. and in us industries. been systems scrubber done applications our plants, successful through have various other a significant heavy and three delivering a in have drinking metal these a invested oil qualified industries removal water, resources systems pilots to and scale we industries in years, gas. in projects also large we

the be into sheet and the alternatives the and debating This We from leaves most X, the alternative are year, scrubber to to by force basically on uptake of the International into part The expensive marine a year cap will Maritime have XXXX, new on a lower owners to with of scrubber scrubber have use interesting more lower come will with emissions systems industry. that shipping industry low up install dedicated building energy, I ship an our system. ship a healthy been January this it convert the or significantly of projects of from from new business however within fuel industries implement content the we sulfur, important believe our Organization these in market. free owners. Experts term. has following to cap an pipeline with international last resources a sulfur decision opened The global into longer

We have very this followed of course closely. debate

retrofitted low will most scrubber a predicting like often larger XX% uptake an the arid been affected worldwide of that higher. On newbuild products an the And with of It even that marine XX,XXX opens approximately market are selling $X.X our addressable that XX% for for experts $XXX,XXX the XXXX. systems with scrubbers likely of scrubbers system market total uptake. have billion. analysts and There approximately and on vessels it of Some a seems others in by the around up uptake now legislation. predicting one comes agree of new our top is better that by analysts fleet be uptake be a will scrubber us where predict of the

other markets enter into worked we've have lengthy technology. the has a trying process. into new We with cases been in be market an all billion to established however, to a This proven already before, dollar

marine the one scrubber this more for scrubber three first players a market, the years. have were With industry marine We and of investing in story. the it's we market different been into than

of technology to customers, pleased already they form up. be continue note we has challenging manufacturers technology to to new we all accepts Our seems talk When to pace of relationships agree system scrubber that and and and picking this with proven our suited the application, well for that our we market scrubber are adoption inducers. the

X XXXX. for However, we we announced through marine of doubled in we of just is half more In we August XXXX believe a this see scrubbers. systems first than that second half delivered what expected number be the now From the we that total of to XXXX, beginning.

We are busy expectations. to we pleased us have well so already delivered on-track and these we has systems. are note been X to that very exceed quarter for The far fourth

are by We very encouraged this current development.

to improved We and is shortly, smallest has for continuously allowing our the from that very in any long-term competitors the for believe and position we systems offer and market, a we presence us available unique of the leaders offer well marine one market. OpEx. through offer water important system this today market have industry We be carbide CapEx clients, implications. footprint direct in for our marine standardized this the technology We that and of completely scrubbers our treatment silicon system offering technology

as meet able past rendered for our to months the increased market be the business to [ph] we ramp Over we up are ready further develops. have six demands, and the a

our and the in $X business. net we morning million stock million our remain just placement to X.X DPS outlooks lumpy on This DPS preferred sales The increased we've for balance As the our level have We marine in scrubber stock, the into This acceleration sense strengthen invest believe seen of of of sheet satisfactory business X:X and as promising that discussed, experienced over of earlier throughout and ratio. private always into allow an quarter, further improvement has proceeds road. announced TPS level convertible our been a the of new our an have we on will on shares fourth of us activity common just under will year in relying we market. vantage the XXXX.

complete We we to were are without the at pleased placement market any able price and private [ph]. see to that our coverage of

our happy We our appreciate our that investors and are the future for support the continued we investments. share from optimism

we where has are it taken into It been since identify water the competitive took of transforming us a mentioned, now we our offer supplier As component supplier makes and business from the has solution. to treatment difference where systems. applications a for years our technology three able time a to some earlier decision

a large I future be before; number scale We industries specified of to in successful us have in been has projects. getting that mentioned allowed references for this

We encouraged will are the systems We future. our right are standardized industry the believe in believe water our experiencing equally by we decisions success to in that in development marine has been improve the are we oil and narrowed transform of the treatment do our scrubber the markets greatly successful that focus business choices. and

past business. we are that investments pay see convinced our We years that acceleration the will of over our and will off

business. to and to and our we turning appreciate do We in our be now this, market earnings fourth the could support like session. shareholders. an to our revenue value and our quarter, of Having expect conference over Q&A XXXX I We turn from and the improvement hard to shareholders, bring we in technology our will the for the prove that said a continue continued our establish work would point through believe

Operator

with Instructions] Craig-Hallum. Eric your Stine first the Please proceed question of from comes [Operator with question. line Our

Unidentified Analyst

license us, large. competitive Aaron you the opportunity, And if what your to Maybe on that sizing question that front about you maybe joint very it's the sooner. know, venture? you just is you're changes pharma there for Thanks on something potentially a [ph] Hi, opportunity any Eric strategy; this taking obviously seeing first there? thanks for could marine Stine. for for is talk or Can on

Sune Mathiesen

the very is said is that safely we can the a bestowed result like very the water, will mettle [ph]. of futures oil so and is mettle everything this this. and we we're day. with smaller for side very stay seen a competing industry Doug, ball, it's sense our every the have everything defined what on there same as a are basically. through your two seen output, that What pass alternatives will we the from that exactly be filtration have technologies means of treatment the have the One that the for is fluctuation, we -- a Basically spin water and and water it is as you is sizable do; market addressing. separate Yes, other interesting that ball other circumcise will that It sized underpass the is

With the end the competition centrifuges attractive lot a so offer it's a course on result different be OpEx we some And with mass this of of will mass. case changes the rely also they very there of footprint; the industry. offer we a in but small medium, because the

were market have technologies a headstart I pioneers this with we As we it market of this I now a be this into industry, think sure right say investments and would is in over the competition we but usual. a competing said for before, we like significant but than to will one -- also competitive made less that

Unidentified Analyst

the of on across you there the And collection anything any there? then, good. you any improved sheet; forward outlook to order balance mining terms? these the to-date progress Serbia can if orders and just then if changes is on on business the And structuring your talk cash kind going maybe just Okay, collected or with maybe order about

Sune Mathiesen

have Yes, still the this the from week basically that turn Serbian we them Serbia and hopes into large but collectible order sort changed high with paying discussion in focus successful. to the do municipality the we're trying situation sort entering have now and end user we we will our is of out directly, I be of will have next there. out us

different the them the those and next still have the collected and taking money. conference approach is call will collectible hopefully we So we there on are

Unidentified Analyst

see out Okay, power there maybe as there. then industrial at like you XXXX in kind since last of one good. look deliveries, outlook you something me today growth side we've maybe about I just guess; talk on you for called Can been and opportunity one you space? the of a And heard just plants that for the things, what while the

Sune Mathiesen

interest power see from Yes, we Denmark that. we systems this of actually number year of have seen a smaller are plants for lot in a continuing and to

seems to it will have it in other markets the been XXXX, XXXX. success projects; future into is had be in industry and for will like have copy specified be for so for We Denmark, we trick nice us the a focused now that

Unidentified Analyst

Right, sounds questions. Thanks the good. for taking

Operator

you. Thank

comes Joe of with question next proceed Smith. the William from question. your Our line Gomes with Please

Joe Gomes

morning. Good

to a as other marine more and customers? speaking to of What the talk I Just little people you with? the to people systems on might been did of in you've detail have provide the industry people scrubber; speaking that these number who are you in sold Yara? other to through about be some if talking these you're addition quick, you're Yara; other able was How you a other wondering to with, in addition many

Sune Mathiesen

be a in close this valuable Yes, industry with in and for to Yara Yara customer you're We perfectly started us. remains very cooperation right Joe. out

focus manufacturers. our are and we out broadened five have we with today scrubber working However,

our important can so I technology directly very think will the actually to their is very that I from comment have proven it on is with membership explain and specified now owners the be for specify to products are they concept we It the that the we successful. that mean because that something centrifuges started projects. know necessarily technology with LiqTech that mention ships. are should stay these. of technology We talking for we thing it's but why it And owners; think this in ship also there to [indiscernible]. specifying owner in else one will to to markets we sell that our allows control be I directly And if important means think future what who important different our makes us direct you're and ship that the directly is exactly to we doesn't

customer just with both and relying right, on continue are you're scrubber we on we manufacturers base form also time but all but we longer owners. today wider new no relationships relying to So absolutely are ship Yara a the

Joe Gomes

CapEx Okay, you kind thank And could versus in centrifuge just the OpEx the alternative? of remind for and for what you that. is difference system us LiqTech the the

Sune Mathiesen

Yes.

similar a difference. CapEx, We is significant not are there in very

lower OpEx dry would with end metals, and or most to also get pay you off and amount and it, technology, waste. the and to it. you to against bond, brought, We then salts up everything, to cake, paint also with a to of heavy it we would in dry offer a so of media, are future also to are however, $X Where you sensor when have you we a their it much than whatever with a large in lower of our that centrifuges. amount in per need store we with gets pay cost first; this the But count sludge cake the takes have is easy dispose up as more dispose you and and much shore the that is electrical money storm when of to shore all will

good it's of So very and attractive we customers. our a well for attractive very have CapEx OpEx a combination think and offering I

Joe Gomes

still you this think delayed that. approved for to funds And bit you other talk been a municipality? from fully reasons? had lined Earlier three the and and paid coming -- potentially to thanks one on for. there up now little did they've contracts probably Serbia in see the Okay, potential in once order briefly, year remaining or Serbia had some contract you Do fruition talked been we trying I contracts for collect just the those

Sune Mathiesen

be market out in substances, attractive that safely -- have We drink substances harmful with our lot you the water. we oil senate, a the water cleaned still see with before can needs a barren Serbia. in issues to There very of

project, definitely, market. do learned think it's an to I do what's attractive So this about and to lot And still last we in not have a Serbia. what

to up [ph]. some on are will pains opportunities opportunities different continue work a there to our will in we So set we interesting regards and those much but have securing

So now future. from we the to the have use issues learned we heading are yes, this still avoid project what in opportunities but we will

Joe Gomes

looking with you Serbia; different were Won't same potential you are in originally using partners? that the partner still at

Sune Mathiesen

We to different would partners. potential look

Joe Gomes

detail And If loss if and in-line me know, square you results do and worse; results sequentially the that square when you those some the expected the can improvement statements how both, you conference earnings say said Okay. were revenues here; or just you that more you'd wonder quarter call half of I'm today the with 'XX? one net with what largely wondering you for last you in I color one trying quarter just second expectations your that revenue is on that square so give decline third of and you in said me in -- that? to second

Sune Mathiesen

that That is second that Joe. the an said correct. an we half of we is still understandable expect XXXX and from be What is that question to the half, improvement first

we been the quarter. of now -- quarter, have As I fourth texture until we mentioned extremely had would than to quarter and the before what fallen different have into some deliveries third earlier, Should busy have those a we instead of have take. fourth

our on-track expectations we are So second improve and meet of believe focus we to from XXXX remains that. still half our well to the that

Joe Gomes

Okay, thanks appreciate I it. Sune

Operator

you. Thank

the [ph], Our private Gannon of with line your comes question. proceed next Please investor. question Tom from

Unidentified Analyst

press or in X release; thank The the are or Yes, in in you. X be sold X X sold QX? scrubbers the to QX

Sune Mathiesen

quarter. X and the be it of that I my the believe QX will in from anticipating in first top remaining was we're head

Unidentified Analyst

ships? Okay. the quarters ship With about short-term systems water couple -- in for supplying for X be next the now rate filters of run the scrubbers per over filter quarter the

Sune Mathiesen

we a start. a seeing see business now is we're gradual raindrop believe will and we just that that believe We really this in

number your see a we on forward. quarterly answer I expect basis would that question, think moving to to grow So

Unidentified Analyst

to in systems XX filter is Supplying for realistic? that Okay. XX XXXX, ships

Sune Mathiesen

Yes, definitely believe number. I could that that realistic a be

Unidentified Analyst

was shipyard the Okay. for constraint competition? with your that system your is One to last point versus a to selling strong so ships add XX%; supply question quicker ships, the is system install there And and a is to -- many scrubbers.

Sune Mathiesen

modeling there system by that would to why install, This really industry worldwide; definitely not our say capacity installed. is also the following system; due to when of XXXX have the a it Yes, to I actually the be a is very that shipyard I it capacity this in and restraint definitely work say scrubber all plug-and-play even to a would analysts easy plug-and-play XX% But shipyard earlier very retrofitted is quickly of are and the I our in the shipyard the yes, is mentioned restraint XXXX to kicks-in. and fleet worldwide, needs legislation was itself. in water treatment the is system, honesty, to it's is the related not that related but also in system majority the is done be that that the

Unidentified Analyst

have those numbers your fleet; company to to -- what know really technology ship and are wanted their kind large and large like older a is on it companies large of system water install if fleet ships? use one there you filter a one I wanted at on If company of owning large your if that ship looking

Sune Mathiesen

and know contact ships. we into that with in earlier, could several XXX said are XX, be the I of several even as direct all that are installations Well, modeling we ship of them several already owners

Unidentified Analyst

Okay.

can are to out X number. they the So say, -- right a and [indiscernible] roll they let's X like much or it, larger it now ones if

Sune Mathiesen

or they one roll have we to identical have Yes, could XX out ship they we ships works stay ships, XXX the if order prior with of the and identical until it a the is; now And how owner project ships then he that then in remaining we ships. XX seen satisfied, what very for a it well is typically take fleet.

will correct, So develop. that going that we're typical be way you're a see to it

Unidentified Analyst

your in does call, conference capacity large suddenly if manufacturing, capacity was order? quick occur, still to $XX that a to in is have about right. there was million orders manufacturing handle of relatively were past a I there that If the Okay. sales I to remember increase company believe the

Sune Mathiesen

work type and and buy probably, we outside; is and in testing we I most is capacity and the tools subcontract current XX to tanks XX the scrubber finished however to we on buy in the so outside, assembly we systems easily say do our so direction of from year, our the outside, facilities. that that would believe up have I land a chosen

So that the to rented, follow could not capacity be market easily development.

Unidentified Analyst

I see.

those all were Thank questions. you of Okay, my

Operator

you. Thank

Markesie Our proceed next [ph], question Please with your comes Anthony from investor. question. of line private

Unidentified Analyst

the would let's A OpEx, morning. a is for you why mentioned that With to in a it Is are David such unless the of Good system seem I'm similar seeming other and advantages earlier question be in call a that you; it. difficult would competitor it a others alternative? you're advantages no-brainer and area something. words, ship In the the would consider process, question principal missing anybody me with Goliath? seeming CapEx, plug-and-play it

Sune Mathiesen

into We Anthony, yes to presence or right, a offering. a the judged manufacturers honest, and in But already. companies we think we have industry are the of good marine be you're have some they some think centrifuge good scrubber

However, also and I actually numbers we market say have an already a are We excerpted even this low, the good share. are we considered for still presence market. though have good technology market to have

I with -- the proportion in say manufacturers good scrubber of working We world. are would the

different up from or but So always offering have competition, whether, large we positioned well filtration the have centrifuge always I I think some we will centrifuge right, you're against companies tools are technology and are it will think we we're comes competition. whether

the manufacturers well we this is very important our scrubber to good the the of market. into I throughout think thing working part positions industry part The with that is to of are we positioned and me have are already

Unidentified Analyst

is; guess use than more rather makes sense alternatives where to there yours? situations my the I it Yes, are question

Sune Mathiesen

world with to remaining else part most centrifuges the you to scrubber with, have happens work The some with not a No, working the like centrifuge; technology, now we right. one are solution would why offer well, cases. somebody reason that cannot some of better and work we XXX% we choose in actually think like manufacturers another and that in the we and

So that a and come be just case market I think a sequential. competition it's it different from happens dynamics will to this always natural in

Unidentified Analyst

thanks. Congratulations,

Operator

[Operator question proceed from line Instructions] your [indiscernible]. Our with the of next comes Please question.

Unidentified Analyst

the to bit I'd potential Sune. like morning, market a Good topic costs margins. change to and from

a was say anyway something manufacturing Now which filter that fixed show margin kind shouldn't some of costs I there a a is least ago, XX% it your for dependent you recall there; of are so But in process quarters I gross past is my on know is, that level as you know be low the or that that like few quite million this obviously lot exactly has looks in could your quarter to don't thought very and result gross I some a would volume medium maybe decent less, no but that in still as like case? to would at it it here is be for volume be $X getting where And area now up somewhere reason to company time in memory been past, the with the with a related I $X fading in around is but or saying million, high. quarter. breakeven that in At least a you why margins. revenues there recall

where about with breakeven. some So in be would it and gross terms, volume potential margin

Sune Mathiesen

we as volume Rick. into significantly. we also morning, see margins our gross right; And improve the the margins today And quite see, related, come are volume. the a will Good so business; you're Berryman it's

calculations with resources past we to able lot approximately about a breakeven our in the correct, scrubber that we reason, DPS of a business. of the refining have X in to have of million come systems have that that be systems maid. quarter future mentioned that believe And invested And into have is we from for improvements It down quarter; often $X number a margins $X.X to our We million a we revenue X higher point. shows achieve in will scrubber. and we

million million the and a breaking it as comes With $XXX that, for We point, through are at point. that $X.X split. call to breakeven

Unidentified Analyst

range million you're that's if had such well get fairly the doing could high improvement. an or Okay, million; XX% that And $X margins into volume gross $X up you again?

Sune Mathiesen

They depends the volume. could, all on But yes. it

kick-in, see we on margins. the when volume So totally different a gross will we picture see

Unidentified Analyst

if could you And your subject Grundfos comment -- can them you of water filtration while just because other working much they were I'm with in from yet a one or wondering great. -- the heard switch that and again; I partners things. were we Okay, and haven't if is

Sune Mathiesen

Yes.

We are ceramic maintenance. still working have own product product new fact washing inside our with with released metal Grundfos, clean a are to washing they we from just and water parts that in

think based new a So opportunities with that still strong that to Grundfos happy there and cooperation, technology and we -- our see are on product I us of hopefully lot further. for we to have we're cooperate line they a see will even develop

Unidentified Analyst

one? smaller have a big or potentially that -- market line and that product is Does

Sune Mathiesen

that dispose water, chemicals metal big big the to use you fabricate clean to it come is and have What you're parts, parts. will use of so have to ceramics market. product is you potentially and with -- up and you the water, a oil removed that today, metal it weld case that can be That water water, before again. you taking a needs the based on is a No, can on. our when new again is used industry and oil a they reuse you lot that technology And that

that will potentially, So their we it's hope a able that market, it is get good big the new and market and very share good they with know economics, for be to a nice for we environment, product.

Unidentified Analyst

Okay, thank you.

Operator

Thank you.

[ph] Asset Management. Please Clear next proceed with of line question Harbor question. from the with Our Roger comes your

Unidentified Analyst

market lumpiness is is better. several there up another but up $X.X has valley, to base come lumpy million we of And The load? DPF be hope north $X.X peak million is some in $X.X things. Sune, the is pursue for times; I'd are or figure like million and as lumpy or is and then several may it and

Sune Mathiesen

a Well, historically DPF has business our your answer lumpy to been business. question,

development And difficult are this we're do emerging been is we need, on like in the around the relying positive been we this the predict has seems from into a have there XXXX. have we exceeding What world. [ph]. throughout throughout just see anticipate some market, to new seen will it and world more we to year that bandage continue opportunities We year it the from me that quarter-to-quarter and

definitely I get like some have explode for going we prove in new better the see discussions for It's product for also with a and more great potential but product it customers DPF an to to that maybe we be been predict interesting could and than a in personally has XXXX seems past, will hopes would and that them. year that DPF be not have We could market XXXX increase our our we it able to stable be actually XXXX volumes.

Unidentified Analyst

thank please you. of whether Serbia in is and different Grundfos potable for water several I know make been opportunities the right, to I on there opportunities water, And other All don't totally opportunity how structure. -- unique to what place water? the where But know albeit comment potable as places; potable exist, don't whether you have China, or well -- in can as under

Sune Mathiesen

South have a and Serbia now, water America, have are they are North been be And Southern for hearing in in are we will of to-date there case I the the has been with Asia; same have the that in the there for in we I've huge the world, solution exactly substances, arsenic, drinking that will think population not and XX an that Europe, world. problems come fruition to [indiscernible], some the interesting years that I America not believe XXXX. problems those the goal issues. believe water ground world have to and supply and but see they actually the that and personally opportunities lot They tomorrow the to water. some are around large the growing same with of issues future we enough clean in I in portable There of opportunities

not this we scale pursue now in is these Now about initial we today, pursue have we also what to them. we're can my that large and will the continue references, remarks mentioned forgetting opportunities, these I opportunities

be a terms, solutions term a issues. can I definitely do near in with the our so see we good the technology. you to some part expecting will longer have basis we not -- of our think are these have the to technology the in of in We place of to company And this the market but

Unidentified Analyst

look question final those trial field drafted criteria I or at either now by performance changing opportunity? the to environmental mining, And were the recall, and customer of the there or appear the pilot are either doesn't demonstration how need on type or there -- should the regulations they be that that project; And met as for or criteria thing, yet we were were the decreasing follow-on; exceeded.

Sune Mathiesen

North the I big mining think in spill from the We of in technology. our that -- for a impact back, the Colorado, with saw lot bad mining opportunities again, think company environment. America, I a few on are in there a very years

have now be an to where area large I Again, issues think will of we projects. future and lot us for there it is attention and see to allows legislation the this reference we a specified is more in future. scale these

have two it We out definitely future Again, these around future and an a we of issues. from year, specifying one for will year, the and five projects, to about interest is it are also take not increased governments way of lot project mining opportunity, our for say be we companies have in focus there the I our long-term years world. to be do environment yes, time the opportunity something are for we a of by Even this that why world about opportunities our part may mature, a as around company. to there products the would and from year, are these takes though to mentioning a it the are long will this business mature. forgetting three But now

So yes, for growing and a is us. there market growing a opportunity

Unidentified Analyst

Thank you.

Operator

time. Thank you. further no turn the comments. at to I'll final back there Mathiesen, floor questions for are you Mr. this

Sune Mathiesen

into dialing Thank you take opportunity all the to very conference much. thank the call. I would to for like you

prove have identify the scrubber that that long-term marine support technology. markets time we and are our And made investments and we point us and a in the several some we right for to has discussed in in, have We do that industry opportunities continued opportunities dialing for realize is the for we well and you taking XXXX We could be to for And Thank do also our our near-term markets that the path in on turning the near-term term. positioned us believe you longer the other the business. company. that for us and right thank today. our believe to

Operator

today's This Thank teleconference. you. concludes

this you at may time. Thank your your disconnect participation. for lines You

LiqTech International (LIQT) 14 Nov 172017 Q3 Earnings call transcript