Robert, and of much, very you, joining morning for you all you Thank and to good us today. thank
slide I'm where oil industry, At and ONGC with believe traction during us, order the progress acceleration will of important with that gas months. business our As am leaders from slide highlights for will making Robert pleased morning. presentation the business important we see leaders our industry orders we segment market a a these remarks. few the this I Slide mentioned, and very past our in forward. certain further book, our months. be I we'll one, we market coming call to X. level, the we LiqTech. my for have reference joint momentum East able prepared in for build The and milestone our grow high proceed within These And hope and our is Middle the Hughes, Baker from key partner a I as such as through included to clearly order going Chevron this venture booked oil on with I particularly accompany to numbers industry have and diversify and recently are we orders gas now
upside believe will in market into the build, model, Not the significant potential a entry pathway It own are order we I going it momentarily. more which is our us optimistic the first order does for and open most will expected. to operate first that originally years. this us. easier be on clearly we a took only The coming marks difficult will But we that expand longer larger with get forward. addressable one always than this and an also provide
heading increased on currently Beyond also we carbon possession proposed committee license further for we have with business IMO now for oil marine the bookings. successfully we installation. have our on and right where see and venture schedule emission have where ramp seems gas, expected second of loop reduction more We begun and in and this we significant session. its being half the what to market, marine a the our expectations factory, We revenue I'll open this are black equipment in seeing the inquiries see taken ban to direction reemergence of ongoing scrubber China be we plan, expand scrubber discussed our growth are joint our remain marine On obtained us. are executing if MEPC within in more could moment trend on but to continue expand business, operational we our I'll for on the scrubber large the be a with in XXXX business, our XXXX. moment market. in on the
the order you hopefully and seeing we increased book saw in are visibility pipeline. press now Finally, release, as in our
is going are working management understand levels, has we we entire that flow timing to is been in fiscal by now $XX be the our highlighted of understanding by million good to we plan and by million. And believe expect the appropriate of have want and in what we investors, forward. the we profitable, remainder that result, $XX to reviewed and conservative revenue in you to believe a are. as expectations it year expectations, the these for being XXXX expect of We the a XXXX and plan and expected operating which Board, the at well. positive is be operating introduce as As team are expectations to We from XXXX. which This revenues cash
presentation, certain deviations well. just could the transparent that there mentioned go We slide have I on segment and to as see we breakdowns as providing as this depending possible as XXXX contribution by the ban you be out tried expectations loop Throughout lay from margin on details to be and for on in will revenue such before. items segment open market plan the where you actionable
clearly, that picture on there are X. against chain Slide let's items market. following has are those we believe But marine our And taking book possible. an one many crystal impacting pipeline we expectations, around scrubber now supply of our to risks as to as as are these disruptions and any including including number account And order provide the could with the into that Now possible. accurate us. nearly that, no as for overview, ball, a world, impact every there's the industry Weighing are transition them first now along, we and of
scrubber the the further of systems as sulfur price We see spread spread recent low fuel and throughout stabilized widened $XXX above In low to conditions high reports improving shortages between has permit continue ton. for weeks, per remains fuel market. sulfur as market of metric the
most the world, local right-hand will held potential chart IMO open-loop of Turkey. on The November a across discharge the You slide. the number including of The amortization of is XX. follows being at XX harmonization through discussing and on the recently, see a meeting scrubber currently side the European regulations currently Union that the bans MEPC discharge
systems increased see or loop closed technology. accelerate We scrubber opportunity in believe conversion market systems systems from of favor the loop a to company's This to global the that of the vessels could recommendations. have that type open expect marine some their announcement closed additional potential in the scrubbers. closed-loop to ban the continue hybrid transition adoption following employ filtration supply the on trends systems, loop IMO loop We X,XXX already that to for open us with of port installed providing some months
to receiving orders continue estimate X,XXX by rather vessels, be ships of see end new call, growth They retrofitted although are that continue scrubber manufacturer. an converted. we China. geography, diversified strong X,XXX systems need diversified diversified. last we are what the in mentioned by diversified yet by with Analysts the the exhaust out They to are will to a to and they additional would addition are years. are In to user coming scrubber be we to that X,XXX Similar
As million X. range to in expecting now gas you in And and XXXX. we X, be revenue from turn $XX oil million the currently Slide on $XX to are to Slide of to transitioning marine scrubbers
income As industry leaders, India. outset, with gas-related at we the from for and Hughes, of into Baker where not from Middle as is the sea company the addressable a multiple its and a order for oil also The model sales marks East the enters mentioned well recently the projects across and as filtration a I and received multiple East, own It deep considered systems. can very market significant only company the generate Bakers Middle ONGC oil orders water operate large geographies, our as Chevron first for entry milestone market. including build, and operation gas both Hughes it the market end
stated that October dilation forward. the to regulations, water recurring unique environmental look that our fraction water connection I is this may venture create geological are sure take going But conference Middle were we I what build, of is market an This significant this reused. but increases, opportunity opportunity own billion. greater much than water shift application larger. I model providing moment us combined reuse past, our to water produced be more and JV is there LiqTech. with markets joint in tightens sorts be reuse particular, in available structure and we believe to grows, $X.X new towards We during provides works. XX% this all our a well. is more the scarcity operate partner XX treated current how a and clear scarcity be spoke As we the over in taking East significant place The grows revenue water. on extensively a of extra with believe briefly to in stream the expected of In restrictions one our plus as awareness environmental for local the driving and on number years next And that as to a to this call, for other wanted treated more deploy the
are The the the As venture a LiqTech sells minority I in venture. equipment joint the we joint equipment. funding normal margins. terms and for venture, the mentioned, pays and is joint LiqTech normal full payment the joint normal LiqTech under venture price to the not owner prices,
since venture do our and On joint the is are setup revenue generates system. joint entire shareholder. basis. joint below the for nor recognizes joint potential partner believe venture LiqTech the sale of and XX% joint of venture outside profits them. that the about venture will venture look forward going to rents and great equipment to discussed from the East, profit forward, systems ethylene Middle XX% between other customers. partner, from the line joint an the quarter. will additional the we LiqTech from LiqTech split joint rental other recognition recovery be venture we up LiqTech then ventures. Expanding on the income not oil since Any excited with show on equipment our the LiqTech of and glycol the opportunity the proportionally That for of a this the gas the on last we're and purchaser ongoing as We is The we revenue a minority of funding opportunities accounting And the execution agreements
number Chevron this of one with are the largest the noted, Chevron, we As world, oil optimistic a and is other companies of customers. in with there that large and opportunities agreement are with
or received an government gas recently order we natural crude and Gas Corporation, Oil ONGC, for Finally, and Natural oil engine an corporation.
our a applied is water for produced Here, application. again technology
Slide page, next X. the On
of can in $XX million $XX are see, margins strong you gas XX% with million we contribution fiscal oil XX%. revenue of forecasting As and to XXXX to
expectations filters for Our be future finish our carbon additional our the quarters. reduction marine inland on black where mandates The let's product, a reducing first particular our believe particulate have pipeline believe Slide want order That the the orders we black market, opportunity challenges projects internal to expectations come from over created China If opportunity carbon gas leader now On taken for we our getting to we gas given transition vessels. we and quickly remains conservative large adjusting emissions lead or XXXX XX-year remind you, set the could market new in we decent line. a matter a revenue XX, in focus China which exhaust certainly in, ocean-going large investments within in in we for China. engines. been is combustion the of from of said, discussed what to remove have and large. oil has To a in are
facility, are to facility the NOx mandates, China, the as a center company's in and the a forward manufacturing for also products, will reduction black plans function new it With carbon manufacture cons. moving scrubber and both new service we we with develop marine
So update brief just a here.
for signed Taicang, have lease now Shanghai. based from in the our We facility, is away agreement some kilometers which XX
taken the in recession infrastructure equipment of have process the We and of and have key critical production. for are installing facility, we procured
of track see remain side the also this that agreements half second of of the right-hand line picture the facility Bottom local of the the on can slide. you be and the slide. we And relevant a a in picture XXXX. You right-hand can side operational signed with on we from on the authorities see event also to have is
which is will the up and of in by expectations this This obviously see train market. running If expect next and to facility revenues you XXXX. turn to reflective you Slide XX, timing in our we the have new for the slide,
to we expecting and this building the the reason XXXX very new significant ramp. look a As we're behind of beyond, And is facility. primary revenue the
a remain excited very will about facility revenue the a the As have capacity in of potential million. new China. $XXX approximately We future reminder,
basis. We a our you we time result of see other investments much will these. applications as the of we a new opportunities. what described part as on make they as But in have business will significant next turn a don't As throughout slide, discussing pandemic, spend up the our going-forward product to typically
OEM filters, water systems land-based treatment as Some with, parts. of such DPF be familiar legacy and engineered filters, the our issues may
to of we're relatively treatment for X the result companies As you growth have where from carbide leverage are revenue us XX, R&D opportunity over membranes million in these we investments opportunities our proprietary a direct new to component $XX years. membranes. we $XX pandemic. made of supplying the investments is the a and high-margin Again, on biggest without great sales in and Slide applications expecting XXXX of sales them are The million These provide OEM see us silicon technology areas. significant in the and the throughout water maintenance, is of
we meet seeing are now And an XX. growth inquiries on and results amount orders. the in are of of XXXX Slide can beyond. that ambitious Transitioning to increased We targets already our confident expectations and terms for we management
significantly the the for part from mentioned, and we first solutions XXXX experiencing our impacted and are demand in revenue I As of XXXX. the products impacts increasing following negative pandemic which
quarter our which well. now orders enhanced pipeline provided New and has guidance overall with introducing the us comfortable visibility are as XXXX fourth is why on and we
gas to in see As million of revenue. you within morning, We which traction business, than with and of we $XX in expected are what this summarizes oil continued million XX% really the talked we about continued expecting on scrubber $XX growth are slide, marine XXXX. our coupled to XXXX contribute see revenue and more business of our combined which much progress
DPF limited OEM membrane, revenues applications, just secured is I XXXX, initial from which expecting land-based reduction and black including on. water just parts, in touched I carbon mentioned. as revenue We're growth engineered Additional from treatment systems,
our as partly be chain pumps offset ramp completion impacted our obtain after significant profitability particularly deliveries a has to parts, and facility. look In fourth years likely year improvements our return and the we volume electronic deliveries the disruptions, ability in to third next manufacturing impact expected the However, by you the China-based is next as these well. quarter will expense. will expect of if which slide, term, supply quarter near and in stabilization a following growing a of the result operating Further, to of
will that quarters. coming normalize the we However, believe itself in this
the are is excited company today. about we the position to things So in wrap up,
successfully product you Nashville. the diversified year. our outlook have orders offerings Despite win it beginning today, And coming disruptions, leverage significantly technology. to the proprietary is segments. the mid-December, then importantly, the And of we these have one in we Conference as note. face-to-face. I just are forward the final our U.S. look for be at confidence visiting beginning will of in our We Lytham visibility December I'll you back with finally look us many to the our well. forward Conference And and and Investment I conference pipeline is in provided a orders which chain in be during stronger in further, connecting XXXX of in I virtual provides for Stephens to to supply you with the at Winter to many
of questions. LiqTech now like all to As for I over would you support your to always, please? your the thank turn Operator, and call I