Energy Recovery Awarded $6 Million for Water Projects in the Middle East
SAN LEANDRO, Calif. — September 26, 2019 — Energy Recovery, Inc. (NASDAQ:ERII) today announced a $6 million (USD) award to supply its PX® Pressure Exchanger® (“PX”) devices along with related equipment and services to seawater reverse osmosis (“SWRO”) desalination facilities in the Middle East. The devices are expected to ship in Q3 and Q4 of 2019.
“Water scarcity is undeniable as the need for potable water continues to increase throughout the Middle East and the rest of the world. Desalination offers an established and reliable solution to help meet these water demands,” said Energy Recovery President and CEO Chris Gannon. “Through the operational cost savings and efficiency measures delivered by our technology, we enable communities to access clean water that could otherwise be out of reach. With over 20,000 devices deployed around the world, we are proud that our PX technology is the most widely used energy recovery solution in SWRO desalination globally.”
Energy Recovery estimates the PXs supplied to these desalination facilities will reduce power consumption for all projects by more than 40 megawatts, saving over 350 gigawatt hours of energy and more than 200,000 metric tons of carbon dioxide per year. The facilities will collectively produce over 300,000 cubic meters of water per day.
“As worldwide water supply and demand imbalances put a strain on our existing natural resources and infrastructure, we continue to observe local water authorities turning to desalination as part of their water diversification strategies,” shared Energy Recovery Vice President of Water Rodney Clemente. “A great example of this is the Kingdom of Saudi Arabia, whose 2030 vision is a plan for economic growth and diversification, with potable water production being a critical pillar to its aggressive growth goals. As a result, the SWRO desalination universe is experiencing unprecedented growth not observed since the “golden era” of desalination over a decade ago.”
About Energy Recovery
Energy Recovery, Inc. (ERII) is an energy solutions provider to industrial fluid flow markets worldwide. Energy Recovery solutions recycle and convert wasted pressure energy into a usable asset and preserve pumps that are subject to hostile processing environments. With award-winning technology, Energy Recovery simplifies complex industrial systems while improving productivity, profitability, and efficiency within the water, oil & gas, and chemical processing industries. Energy Recovery products annually save customers $2 billion (USD) and eliminate more than 11.5 million metric tons of carbon dioxide emissions. Headquartered in the Bay Area, Energy Recovery has offices in Dubai, Houston, Madrid, and Shanghai. For more information about the Company, please visit www.energyrecovery.com.
Certain matters discussed in this press release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including expectations regarding the timing of shipments of the orders, and reductions in power consumption from the technology. These forward-looking statements are based on information currently available to us and on management’s beliefs, assumptions, estimates, or projections and are not guarantees of future events or results. Because such forward-looking statements involve risks and uncertainties, our actual results may differ materially from the predictions in these forward-looking statements. All forward-looking statements are made as of today, and we assume no obligation to update such statements, whether as a result of new information, future events, or otherwise.
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