SAN LEANDRO, CA – August 25, 2020 – Energy Recovery, Inc. (NASDAQ:ERII) today announced contracts totaling $4.7 million, including an award to supply PX® Pressure Exchanger® devices (“PX”) to the largest floating desalination project in the world.
“Our pressure exchanger technology enables our customers to achieve maximum efficiency and energy savings in producing clean water, even in the most challenging environments around the globe,” said Robert Mao, Energy Recovery Chairman of the Board, President and Chief Executive Officer. “As fresh water demands continue to grow, Energy Recovery and our industry-leading PX will be there to meet these needs and empower our customers to produce potable water at a lower cost and with less energy.”
The project consists of three floating desalination stations with a cumulative water production capacity of 150,000 cubic meters per day (“m3/day”). The project is expected to be operational by the end of 2020 and will supply water to the Saline Water Conversion Corporation (“SWCC”), a Saudi government corporation responsible for power production and the supply of fresh water to various regions in the Kingdom.
“We continue to see exciting advances in desalination throughout the Middle East, and I would like to bring special attention to this specific offshore application,” said Rodney Clemente, Energy Recovery Senior Vice President of Water. “Once commissioned, these floating desalination solutions will be Energy Recovery’s largest offshore project, adding more capacity, redundancy, and flexibility in the region. We are honored that our partners have trusted our company and technology to meet the demands of this challenging project.”
About Energy Recovery
For more than 20 years, Energy Recovery, Inc. (NASDAQ:ERII) has created technologies that solve complex challenges in industrial fluid-flow markets. We design and manufacture solutions that reduce waste, improve operational efficiencies, and lower the production costs of clean water and oil and gas. What began as a game-changing invention for water desalination has grown into a global business delivering solutions that enable more affordable access to these critical resources. Headquartered in the San Francisco Bay Area, Energy Recovery has manufacturing, research, and development facilities across California and Texas. Our worldwide sales and technical service organization provides on-site support for our line of water solutions. For more information, 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. 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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