LiqTech International, Inc. announced the receipt of the Company's first oil and gas order through its joint venture in the Middle East. This initial order is valued at approximately $4.0 million in sales to the joint venture, which is 49% owned by LiqTech and is focused on deploying the Company's proprietary silicon carbide ceramic filtration technology to oil and gas producers in the Middle East to mitigate local water scarcity. The order was received from one of the major oil field services companies in the world, with whom the Company is currently discussing several additional orders. Under the terms of the contract, the customer will be deploying LiqTech's water filtration systems for a fixed monthly rental fee paid to the joint venture. LiqTech will recognize a portion of the profits from the joint venture over the rental term, as well as revenue and profit from the upfront system sales to the joint venture.