SAN LEANDRO, Calif.–Feb. 3, 2015– Energy Recovery Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced that it has received awards for projects utilizing its PX Pressure Exchanger Technology. The two orders are expected to total over $2.0 million.The first project is 45 PX-Q300’s for a municipal desalination project for Veolia, a French transnational company with activities in four main service and utility areas traditionally managed by public authorities – water supply and management, waste management, and energy and transport services.
The second is with Metito, a leader in water management solutions with a global project portfolio in excess of US$1 billion. The desalination plant is located in Egypt and provides more than 11 million gallons of fresh water per day.
Hans Peter Michelet, Chairman of the Board, stated, “We are pleased that our sales force has continued to leverage longstanding customer relationships to continue driving business, despite economic headwinds affecting many larger water projects. We have worked with Veolia and Metito for several years, and believe we continue to win business based on the competitive advantages our technology provides to our customers in the form of reliability, efficiency and overall total plant performance. We look forward to continuing to cultivate these relationships in the years to come.”
Energy Recovery’s PX Pressure Exchanger and AT TurboCharger technologies are the most efficient and reliable solutions on the market in energy recovery for desalination. This award-winning family of products is unmatched in the industry and is widely adopted around the world for seawater desalination projects, both large and small.
About Energy Recovery
Energy Recovery (NASDAQ:ERII) develops award-winning solutions to improve productivity, profitability, and energy efficiency within the oil & gas, chemical, and water industries. Our products simplify complex systems and protect vulnerable equipment. By recycling fluid pressure that would otherwise be lost in critical processes, we save clients more than $1.4 billion (USD) annually. Headquartered in the Bay Area, Energy Recovery has offices inMadrid, Shanghai, and Dubai.
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 the expected shipment date of the PX energy recovery devices 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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