LiqTech names David Kowalczyk as new CFO and COO

BALLERUP, Denmark - LiqTech International, Inc. (NASDAQ: NASDAQ:LIQT), a micro-cap filtration solutions company valued at $17.67 million, has appointed David Kowalczyk as its new Chief Financial and Chief Operating Officer, effective March 1, 2025. According to InvestingPro analysis, the company’s stock is currently trading at $1.87, having declined over 42% in the past year. Kowalczyk, with over two decades of experience in finance and operations, will take over from Phillip Massie Price, who has been serving as the Interim CFO since March 2024.

Kowalczyk’s extensive background includes senior positions at Hempel A/S, Globus Wine, Flügger, Novozymes (OTC:NVZMY), and roles at PricewaterhouseCoopers and Nordea Securities. His expertise encompasses finance, strategy, equity analysis, and audit, which could prove crucial for LiqTech’s turnaround efforts. InvestingPro data reveals significant challenges, including weak gross profit margins of 6.95% and a concerning revenue decline of 16.39% over the last twelve months. Get access to 10+ additional key insights about LiqTech with an InvestingPro subscription. Fei Chen, President and CEO of LiqTech, expressed confidence in Kowalczyk’s ability to drive the company’s financial planning and operational management forward.

The incoming CFO and COO holds dual master’s degrees in Auditing and Accounting, as well as Finance and Investments from Copenhagen Business School. Kowalczyk himself is looking forward to contributing to LiqTech’s growth and profitability, leveraging his experience to collaborate with the team, customers, and suppliers.

Price will assist in the transition until his departure on April 30, 2025, ensuring a smooth handover. LiqTech has expressed gratitude for Price’s significant contributions during his tenure.

LiqTech specializes in silicon carbide ceramic filtration technologies for gas and liquid purification, with applications ranging from diesel exhaust soot emissions control to challenging water purification tasks. While the company’s proprietary silicon carbide technology and systems design experience allow it to offer innovative filtration solutions, InvestingPro analysis indicates the company faces financial headwinds, with negative EBITDA of $6.17 million. Discover comprehensive analysis and detailed financial metrics in the exclusive Pro Research Report, available for over 1,400 US stocks.

This announcement is based on a press release statement and is intended to inform stakeholders of the latest executive movements within LiqTech International, Inc.

In other recent news, LiqTech International reported a significant 51% decrease in its third-quarter revenue for fiscal year 2024, falling to $2.5 million from $5.1 million the previous year. This decline was primarily due to the postponement of a major water treatment project. However, the company expects Q4 revenue to be between $3.3 million and $4.3 million, with full-year projections ranging from $14.5 million to $15.5 million. In additional developments, LiqTech has secured a significant commercial order for its PureFlow™ mobile units from Razorback Direct, marking a key step in the company’s growth within the North American energy sector. The CEO of LiqTech International, Fei Chen, views this order as a milestone that underscores the industry’s confidence in their solutions. These units are expected to be delivered in the first quarter of 2025. The company is also actively pursuing pilot projects and has announced a joint venture with JiTRI in China. These recent developments demonstrate LiqTech’s ongoing efforts to mitigate losses and expand its market reach.

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