SAN LEANDRO, Calif.—September 28, 2015—Energy Recovery Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced an award for $1.8 million to supply its PX Pressure Exchanger® technology for a mega desalination plant in the Middle East. For the project, Energy Recovery will partner with a wastewater treatment and services specialist based in the region. The order is expected to ship during the third quarter of 2016.
Energy Recovery will supply its PX-Q300 and PX-180 Pressure Exchanger devices for the plant, which will produce 68,000 cubic meters of fresh water per day. Energy Recovery estimates the PX devices will reduce the plant power consumption by 9.7 MW, saving over 83 GWh of energy per year, and help it avoid 59,700 tons of CO2 emissions per year. The two companies have previously partnered on another mega project in the Middle East.
Energy Recovery’s President and CEO Joel Gay stated, “We are proud to continue to deploy our PX Pressure Exchanger technology where it’s needed, especially in key regions such as the Middle East. This also adds to the portfolio of large-scale projects Energy Recovery has taken on in recent years, making the PX the most widely used energy recovery device for mega-projects in the world. Importantly, this award is an early indicator of a strengthening global desalination market as we enter 2016.”
About Energy Recovery
Energy Recovery (NASDAQ:ERII) develops award-winning technology that recycles unused pressure energy to improve productivity of industrial pumping systems. Our technology protects vulnerable equipment and saves substantial energy and maintenance costs for operators within the oil & gas, chemical, and water industries. With more than 16,000 devices worldwide, our products save clients more than $1.5 billion (USD) annually. Headquartered in the San Francisco Bay Area, Energy Recovery has offices in Shanghai and Dubai. Visit www.energyrecovery.com.
This press release contains forward-looking statements that reflect management’s current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about our expectations as to shipment timing are forward-looking and involve risks and uncertainties. Energy Recovery disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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