Benzinga | Nov 23, 2021 04:17PM EST

LiqTech International Names Simon Stadil As CFO

LiqTech International, Inc. (NASDAQ:LIQT) ("LiqTech"), a clean technology company that manufactures and markets highly specialized filtration technologies, today announced the appointment of Simon Stadil as its Chief Financial Officer, effective November 22, 2021. Claus Toftegaard, most recently LiqTech's CFO, takes over the newly created position of Project Director overseeing the Company's projects in China and Denmark.

Mr. Stadil comes to LiqTech from Welltec, an international provider of robotic well solutions for the oil and gas industry with approximately $300 million in annual revenue, where he served as Director of Treasury & Investor Relations, Regional CFO Americas and Africa, and most recently as Vice President of Global Finance. Additionally, Mr. Stadil served as Assistant Funding Manager within the Danish renewable & utility company ?rsted, as well as Assistant Vice President within the Nordic Investment Banking Division at Barclays Capital in London. Mr. Stadil holds a Bsc. in Business Administration and a Msc. in Economics and Finance (Cand. .Fir) from Copenhagen Business School in Denmark. Mr. Stadil has substantial experience within corporate finance, risk management, and capital markets, with in-depth management experience from various positions across advisory, and vertically integrated technology driven companies within the global oil & energy sector.

"I am pleased to welcome Simon to the LiqTech executive team," said Sune Mathiesen, CEO of LiqTech. "Simon is an experienced financial professional with comprehensive industry and management experience, particularly within the oil and gas markets. Further, Simon has a strong understanding of the capital markets having worked in the banking department of Barclays focused on M&A and other advisory activities. I look forward to Simon's contributions to LiqTech as we continue to execute against our strategic plan."

"Given the numerous global expansion opportunities LiqTech is pursuing, including our plans to develop a new manufacturing facility in China to address black carbon emissions from inland and ocean-going vessels scheduled to open in 2022, we felt it was important to have dedicated management of these key initiatives. Claus is the ideal person to take over in this newly created role of Project Director and I look forward to his continued leadership going forward," Mathiesen concluded.