Hydraulic Fracturing

Energy Recovery Announces Exit From VorTeq(TM) Exclusive Licensing Agreement with Schlumberger

SAN LEANDRO, CA / ACCESSWIRE / June 29, 2020 / Energy Recovery, Inc. (NASDAQ:ERII) today announced an agreement with Schlumberger to exit its 15-year licensing deal for Schlumberger’s exclusive use of Energy Recovery’s VorTeq hydraulic pumping system. Under the terms of the new agreement, no further payments will be made by either party. Energy Recovery will now be fully responsible for commercialization of the VorTeq technology globally.

“At this time, the two parties have different strategic perspectives as to the path to VorTeq commercialization,” said Robert Mao, Energy Recovery Chairman of the Board of Directors and President and Chief Executive Officer. “We believe this to be a positive outcome for all parties and are grateful to Schlumberger for their partnership through the years.”

Conference Call

The Company will also hold a conference call to discuss the VorTeq technology and business model on Tuesday, June 30, 2020 at 5:30 AM PDT / 8:30 AM EDT. Robert Mao, Chairman of the Board of Directors and President and Chief Executive Officer, and Joshua Ballard, Chief Financial Officer, will host the conference call and take analyst questions after prepared remarks. Investors can also access relevant business updates at ir.energyrecovery.com.

LIVE CONFERENCE CALL

Tuesday, June 30, 2020, 5:30 AM PDT / 8:30 AM EDT
Listen-only, US / Canada Toll-Free: +1 (877) 709-8150
Listen-only, Local / International Toll: +1 (201) 689-8354
Access code: 13706150

CONFERENCE CALL REPLAY

Expiration: Thursday, July 30, 2020
US / Canada Toll-Free: +1 (877) 660-6853
Local / International Toll: +1 (201) 612-7415
Access code: 13706150

Investors may also access the live call or the replay over the internet at ir.energyrecovery.com. The replay will be available approximately three hours after the live call concludes.

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. In addition, 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.

Contact

Investor Relations
ir@energyrecovery.com
+1 (281) 962-8105

Press Inquiries
pr@energyrecovery.com
+1 (510) 219-8462

Energy Recovery Announces Departure of VP, Oil & Gas, Appointment of New VorTeq™ Development Leader

SAN LEANDRO, Calif. — March 19, 2020 — Energy Recovery, Inc. (NASDAQ:ERII) today announced the departure of the company’s Vice President of Oil & Gas, Eric Siebert.

“Eric’s leadership has been integral to the development of VorTeq™ from its early stages to the advanced position we are in today. On behalf of the Board, I thank him for his contributions to Energy Recovery and wish him every success in the future,” said Robert Mao, Chairman and Interim President and Chief Executive Officer.

Ahmed Ghoneim, a seasoned oilfield services leader, will manage the VorTeq development team moving forward. Mr. Ghoneim has over 24 years of global upstream oil and gas experience with a focus on hydraulic fracturing and related well services, technology and operations. He has previously worked as Global Production Enhancement Director with Baker Hughes North America, Regional Director for Pressure Control with GE Oil & Gas in multiple markets, in addition to several leadership roles over 15 years with Schlumberger.

“As we continue our drive toward commercialization of VorTeq, I have great confidence in our team to continue the progress we’ve made to date. We are working diligently to realize a return on the company’s investment as soon as possible,” Mao added.

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. Both our headquarters in San Leandro, California, and our Commercial Development Center in Katy, Texas house on-site research, development and manufacturing facilities. In addition, 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.

Forward-Looking Statements

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 our belief that we can commercialize the VorTeq system and our ability to generate a return on our investment. 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.

Contact

Investor Relations
ir@energyrecovery.com
+1 (281) 962-8105

Press Inquiries
pr@energyrecovery.com
+1 (510) 398-2147

Energy Recovery Signs Licensing Agreement with Alderley for Centrifugal Products in the GCC

SAN LEANDRO, Calif., April 5, 2017  — Energy Recovery, Inc. (NASDAQ: ERII), the leader in pressure energy technology for industrial fluid flows, today announced a new licensing agreement with Alderley plc, a leading global supplier of integrated modular skid systems for oil and gas applications.

The 10-year licensing agreement will grant Alderley exclusive rights to sell and promote the Energy Recovery centrifugal line of products, including the IsoBoost™ and IsoGen™ systems for gas processing and pipeline applications in the Middle East region, including Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, Oman, Iraq and Iran to the extent international sanctions and laws permit. In return, Energy Recovery will receive a one-time royalty for each IsoBoost or IsoGen unit sold.

Energy Recovery has continuously expressed the drive to establish a solid beachhead in the GCC, or Gulf Cooperation Council countries.  Progress toward this strategic imperative began in 2015 when the company commissioned its first energy recovery device for gas processing, an IsoGen turbogenerator, within one Saudi Aramco’s larger facilities in the southeastern province of The Kingdom of Saudi Arabia. This beachhead was later fortified in 2016 when Energy Recovery announced the largest purchase order in the company’s history, committing to the provision of multiple IsoBoost units for what will be one of the world’s largest gas processing plants for the largest global producer of hydrocarbons.

Through this agreement with Alderley, the company progresses to the next phase of its centrifugal product strategy, allowing Energy Recovery to focus on technology and innovation while leveraging Alderley’s expertise in project execution.  The partnership with Alderley aims to accelerate a critical mass of installations for the IsoBoost and IsoGen product lines in the GCC by leveraging Alderley’s strong relationships and installation expertise within the region.  Ultimately, the agreement was consummated to generate more predictable and profitable revenue streams within the product line.  Throughout 2016, Energy Recovery executed a rigorous corporate development effort to identify and qualify partners for the Centrifugal product line, with Alderley rising as the ideal fit.

Energy Recovery’s President and CEO Joel Gay stated, “This agreement is yet another step toward realizing and unlocking the value of our long term strategy, moreover evidence of the continued evolution of Energy Recovery’s business model to that of a licensor of differentiated and disruptive technology.  In early 2015, we explicitly prioritized the GCC for the deployment of our IsoBoost and IsoGen technologies within gas processing and pipeline applications; this a function of the then pending economic malaise within the North American midstream and upstream and more importantly, the untapped energy density throughout the oil & gas infrastructure of the Middle East.  Our focused go-to-market strategy yielded success by way of the maiden installation of an Energy Recovery device within one of Saudi Aramco’s larger facilities in the first quarter of 2015, followed by securing the largest purchase order in the Company’s history for multiple IsoBoost units approximately one year later.  These proof points of early adoption inexorably lent to a comprehensive corporate development effort to identify and engage the next licensing partner for the Company, Alderley.  Alderley’s distribution channel, project management and product delivery expertise, coupled with our technology will make a potent combination in further institutionalizing hydraulic energy recovery solutions within the target region.  We are therefore elated to announce this licensing agreement and look forward to executing within its construct to further create value for our shareholders.”

Mark Colebrook, Chief Executive Officer, Alderley plc, added, “Alderley is excited to be working with Energy Recovery, Inc. in the selling and promotion of the company’s innovative and proven centrifugal products, as well as further driving the adoption and installation of these products across the GCC. Our knowledge and experience within the region, as well as the oil and gas industry will further bolster the execution and delivery of this innovative technology to an increasing number of plants and operators.”

About Energy Recovery

Energy Recovery (NASDAQ: ERII) recycles and converts wasted pressure energy into a usable asset and preserves 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 oil & gas, chemical processing, and water industries.  Energy Recovery products save clients more than $1.8 billion (USD) annually.  Headquartered in the Bay Area, Energy Recovery has offices in Houston, Ireland, Shanghai, and Dubai.  Learn more at www.energyrecovery.com.

About Alderley

Alderley plc is a multi-disciplined engineering company operating in the oil, gas and petrochemical industries producing effective and efficient solutions for the metering, processing, treatment and control of hydrocarbon products. Alderley has a long heritage in the oil and gas industry and has supplied more than 750 systems to more than 50 countries. Alderley has headquarters in the UK, and regional facilities in the UAE, Kingdom of Saudi Arabia and Singapore. More about Alderley can be found at www.alderley.com.

Forward-Looking Statements

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 our belief that Alderley will be successful in accelerating a critical mass of installations for the IsoBoost and IsoGen product lines in the GCC, that the agreement will generate more predictable and profitable revenue streams within the product line, that the agreement will help realize and unlock the value of our long term strategy and create value for our shareholders, and that Alderley’s distribution channel, project management and product delivery expertise, coupled with our technology will make a potent combination in further institutionalizing hydraulic energy recovery solutions within the target region. 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. Potential risks and uncertainties include our ability to achieve the milestones under the licensing agreement with a subsidiary of Schlumberger Limited and the risks discussed under “Risk Factors” in our Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) on March 8, 2017 as well as other reports filed by us with the SEC from time to time. 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.

Contact

Brian Uhlmer
buhlmer@energyrecovery.com
(713) 858-2284

Energy Recovery Moves Forward with Commercial Development Center in Texas

SAN LEANDRO, Calif.—January 14, 2019 — Energy Recovery, Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, announced today that it has executed a lease for the company’s new Commercial Development Center in the Houston region.  The facility will serve as the central office for Energy Recovery’s Oil & Gas segment including its management team, its Engineering System, Design and Performance teams, as well as field personnel.  Work at the facility will initially focus on the continued technical and commercial advancement of the company’s VorTeq™ and MTeq™ technologies.

The four-acre site in Katy, Texas, will include 20,000 square feet of manufacturing and warehouse space, 5,000 square feet of office space and a two-acre yard for field testing and product development.  Once fully operational, the facility will allow the Company to test technology at scales representative of real-world conditions.  In addition, the facility will eventually house advanced equipment to machine, inspect and test the Company’s specialized tungsten carbide components.  Ultimately, the Center will enable the Company to further refine the technology following commercialization.

Energy Recovery’s President and CEO Chris Gannon stated, “We continue to make progress toward VorTeq commercialization, and our investment in this facility further underscores our confidence in the technology. These new capabilities will resolve a long-term challenge for our company along the path to commercialization, namely our previous reliance upon third-party facilities and resources for full scale product testing and development.  The Center will enhance the abilities of our engineers to rapidly innovate and test the VorTeq at scale, allowing us to take control of the commercial development process.  Beyond VorTeq, the Center will be an important strategic asset in the ongoing development of other technologies, as we continue to grow and develop new applications for our core PX® Pressure Exchanger® technology.”

Eric Siebert, Energy Recovery’s Vice President, Oil & Gas, added, “The expanded capabilities of our new facility will allow us to build valuable system runtime, reduce cycle time between development iterations and improve repeatability as we progress towards commercialization. The goal has always been the most efficient path to commercialization with VorTeq and MTeq, and this investment is firmly in line with that objective.”

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 oil & gas, chemical processing, and water industries. Energy Recovery products save clients more than $1.8 billion (USD) annually. Headquartered in the Bay Area, Energy Recovery has offices in Houston, Shanghai, and Dubai. For more information about the Company, please visit www.energyrecovery.com.

Forward-Looking Statements

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 our belief that the Company will grow and develop new applications for our PX Pressure Exchanger 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.

Contact

Investor Relations
ir@energyrecovery.com
+1 (281) 962-8105

Energy Recovery Announces Launch of MTeq for Mud Pumping and Agreement with Sidewinder Drilling LLC as Maiden Early-Stage Partner

SAN LEANDRO, Calif.—May 2, 2017 — Energy Recovery, Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced the release of MTeq, a pumping solution engineered to increase productivity and reduce operating costs in the mud pumping process in Oil & Gas drilling applications by rerouting abrasive fluids away from high-pressure pumps. In conjunction with the MTeq product launch, Energy Recovery announces a partnership with Sidewinder Drilling LLC as its first early-stage partner for the solution.

MTeq utilizes Energy Recovery’s innovative PXTM Pressure ExchangerTM technology, currently used globally in desalination, and applies it to the upstream Oil & Gas drilling and mud pumping process. This is in keeping with the central imperative of the company’s long-term strategy to develop derivatives of the Pressure Exchanger technology and subsequently identify channel partners with which to bring new technology to market.

MTeq creates value by protecting pumping equipment in a critical process related to drilling oil and gas wells called mud pumping. During mud pumping, a drilling fluid, also known as drilling mud, is circulated from a mud pit through the borehole to remove cuttings, control formation pressures, and lubricate the drill bit. Although the mud pumping process removes most of the solids from the drilling mud, some debris and sand remains and subjects the pumps circulating the fluid to extreme wear, resulting in burdensome repair and maintenance costs. MTeq is installed as a barrier between the mud pits and the pumps, thereby allowing the pumps to process clean, particulate-free fluid, and not the particulate-laden fluid that lends to component failure.

By requiring pumping equipment to process only clean fluid, MTeq will enable a fundamental shift in drilling rig system level design, allowing for the use of centrifugal pumps, which offer greater reliability and cost efficiency to drilling service providers. Upon this shift, operators will immediately unlock value by reducing pump repair and maintenance costs, reducing planned and unplanned rig downtime, increasing overall operational safety, and decreasing mobilization cost and rig up and down time.

Importantly, Energy Recovery’s early-stage partnership with Sidewinder will allow for product field testing and development, validation of the technical envelope and operational parameters, and ultimately, the definition of the path to full commercialization.

Energy Recovery’s President and CEO Joel Gay stated, “We have severally described our technology value proposition as being ubiquitous; namely that we can create significant value for the industrial end user in any application that presents high flow rates, large pressure differentials and high-capital intensity in the form of pump expenditures. Oil & Gas is the most target-rich industry in this respect, and mud pumping within drilling applications presents a unique opportunity to leverage our fluid physics and material science capabilities to develop and deliver an entirely novel and potentially disruptive technology, the MTeq. Given what appears to be a sustainable market upswing and subsequent recapitalization, we are excited about the prospect of fundamentally changing the rig system-level design through the introduction of centrifugal pumps as substitutes to the incumbent plunger pumps, an option only possible through the integration of the MTeq. We are further enthused to work with a well-respected and technology-focused service provider such as Sidewinder to further validate the MTeq, integrate it into their rig configuration and advance the technology toward full commercialization.”

Mr. Gay continued, “We seek to institutionalize Gatling-like product innovation with the objective of developing one derivative of the Pressure Exchanger annually. The launching of the MTeq is the offspring of this program and is further progress toward the achievement of our long-term strategy. We look forward to collaborating with Sidewinder throughout the field trial process.”

Jon Cole, CEO of Sidewinder Drilling, stated, “We are very pleased to have executed an early-stage agreement with Energy Recovery. We believe that the MTeq pump technology will lead to better drilling performance for our customers; while reducing mud pump downtime and expendable expense. Providing superior drilling performance is critical to our customer relationships. Working with Energy Recovery to validate the MTeq technology will provide benefits to Sidewinder and our customers.”

Additional information on Energy Recovery’s MTeq system, including a video animation, can be found on the Company’s website at www.energyrecovery.com.

About Energy Recovery

Energy Recovery (NASDAQ:ERII) recycles and converts wasted pressure energy into a usable asset and preserves 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 oil & gas, chemical processing, and water industries.  Energy Recovery products save clients more than $1.8 billion (USD) annually.  Headquartered in the Bay Area, Energy Recovery has offices in Houston, Ireland, Shanghai, and Dubai.  Learn more at www.energyrecovery.com.

About Sidewinder Drilling

Headquartered in Houston, Texas, Sidewinder was founded in 2011 and formed to build, own and operate premium land drilling rigs and to provide contract drilling services for exploration and production (“E&P”) companies targeting unconventional resource plays in North America. Through acquisitions and construction of rigs, Sidewinder has built a contract land drilling company with a large scale, modern asset base focused on delivering the high performance drilling services required by operators seeking to efficiently and safely develop unconventional oil and gas resources. Sidewinder’s long-term strategy is to capitalize on the activity in unconventional resource plays by expanding the Company’s existing customer base and by operating in all phases of field development, from exploration and delineation drilling to full-scale commercial development. Visit: www.sidewinderdrilling.com.

Forward-Looking Statements

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 our belief that MTeq will increase productivity and reduce operating costs in the mud pumping process; our belief that MTeq will enable a fundamental shift in drilling rig system level design including the use of centrifugal pumps; our belief that centrifugal pumps will immediately unlock value for operators by reducing pump repair and maintenance costs, reducing planned and unplanned rig downtime, increasing overall operational safety and decreasing mobilization cost and rig up and down time; and that we will be able to commercialize MTeq. 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. Potential risks and uncertainties include our ability to achieve the milestones under the licensing agreement with a subsidiary of Schlumberger Limited and the risks discussed under “Risk Factors” in our Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) on March 10, 2017 as well as other reports filed by us with the SEC from time to time. 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.

Contact

Brian Uhlmer
buhlmer@energyrecovery.com
(713) 858-2284

###

Energy Recovery Selects Kemper as Design Partner for Second Generation VorTeq Missile

SAN LEANDRO, Calif.—March 28, 2017 — Energy Recovery, Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced a new partnership with Kemper Valve and Fittings Corp., a Caterpillar company (NYSE: CAT), to design and produce the second generation manifold trailer, or missile, for Energy Recovery’s VorTeqTM hydraulic pumping system.

The VorTeq system is an application of Energy Recovery’s award-winning PXTM Pressure ExchangerTM technology in the hydraulic fracturing industry, and will be used to protect pumps from constant and costly failures by re-routing abrasive proppants (most commonly sand) away from high-pressure pumps.

After a rigorous process, Energy Recovery has selected Kemper as a partner to design and manufacture the second generation missile that will house the Company’s third generation VorTeq Pressure Exchangers. The second generation missile will be designed to better insulate the Pressure Exchangers from the system excitation and pulsations that were experienced on the prototype missile, as well as to increase volumetric capacity and endeavor to yield performance levels more emblematic of the commercialization standard defined in the Company’s licensing agreement.

Energy Recovery’s President and CEO Joel Gay stated, “Our partnership with Kemper underscores an unflinching commitment to commercialize the VorTeq and fully unlock and deliver its value to our shareholders. Kemper rose to the top of a decorated selection of potential design and manufacturing partners on the basis of its portfolio of tried-and-tested surface-level equipment within the oil and gas industry. By working closely with our engineers, we believe Kemper to be uniquely qualified to successfully deliver a second generation manifold capable of mitigating the system excitation challenges and vibrational operating concerns witnessed with our prototype missile throughout the milestone mobilization testing process in 2016. Importantly, the second generation missile is being designed in parallel with our third generation VorTeq cartridge to constitute the second generation VorTeq Hydraulic Pumping System. We will therefore execute milestone testing with this new system, one that contemplates the lexicon of data acquired throughout 2016, the expertise of an industry-leading capital equipment manufacturer and the latest fluid physics technology in the form of a new Pressure Exchanger. This partnership with yet another industry bellwether furthers our confidence in achieving milestone success in 2017.”

Tim Hennessey, General Manager of Kemper Valve and Fittings, added, “Kemper Valve and Fittings is pleased to be working with Energy Recovery, Inc. in the engineering, design and fabrication of the next generation VorTeq flow iron. The opportunity to participate in this ground-breaking technology fits with our strategy of differentiating ourselves within the Oil and Gas sector. We believe that our expertise in oil services manufacturing, combined with Energy Recovery’s deep knowledge of fluid physics and material science, creates a natural fit for this initiative.”

About Energy Recovery

Energy Recovery (NASDAQ:ERII) recycles and converts wasted pressure energy into a usable asset and preserves 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 oil & gas, chemical processing, and water industries.  Energy Recovery products save clients more than $1.8 billion (USD) annually.  Headquartered in the Bay Area, Energy Recovery has offices in Houston, Ireland, Shanghai, and Dubai.  Learn more at www.energyrecovery.com.

About Kemper Valves & Fittings

Kemper Valves & Fittings Corp. (Kemper), a wholly owned subsidiary of Caterpillar, Inc. manufactures a complete line of high and low pressure flow iron to the oil and gas industry. Headquartered near Chicago, IL, Kemper has served the Oil & Gas industry since 1965. Kemper has nine facilities located across the United States and Canada.

Forward-Looking Statements

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 Company’s ability to commercialize the VorTeq, the Company’s belief that the milestones will be met in 2017, and our expectations that the second generation manifold will be capable of mitigating the system excitation challenges and vibrational operating challenges we have experienced. 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. Potential risks and uncertainties include our ability to achieve the milestones under the licensing agreement with a subsidiary of Schlumberger Limited and the risks discussed under “Risk Factors” in our Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) on March 8, 2017 as well as other reports filed by us with the SEC from time to time. 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.

Contact

Brian Uhlmer
buhlmer@energyrecovery.com
(713) 858-2284

###

Energy Recovery Named Manufacturer of the Year by Prestigious 2016 Texas Oil & Gas Awards

SAN LEANDRO, Calif.—November 7, 2016 — Energy Recovery, Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, has been recognized as Manufacturer of the Year by the prestigious 2016 Texas Oil & Gas Awards. The Awards recognized the innovation of Energy Recovery’s VorTeqTM hydraulic pumping system.

The VorTeq system addresses a major pain point in hydraulic fracturing by re-routing abrasive proppants away from high pressure pumps. This allows the high pressure pumps to process only clean fluid, thereby extending their life and helping to prevent daily failures on frac sites.

Energy Recovery’s President and CEO Joel Gay stated, “We are thrilled to be recognized by such an influential award in the oil and gas industry. Energy Recovery has rapidly evolved from a small innovator to an engineering hub that draws some of the finest minds in oil and gas. We feel honored to have earned this kind of recognition among our peers, and look forward to announcing future disruptive applications of our Pressure Exchanger technology.”

About Energy Recovery

Energy Recovery (NASDAQ:ERII) recycles and converts wasted pressure energy into a usable asset and preserves 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 oil & gas, chemical processing, and water industries.  Energy Recovery products save clients more than $1.7 billion (USD) annually.  Headquartered in the Bay Area, Energy Recovery has offices in Houston, Ireland, Shanghai, and Dubai.  Learn more at www.energyrecovery.com.

Forward-Looking Statements

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 announcing future applications of Energy Recovery’s Pressure Exchanger 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. Potential risks and uncertainties include our ability to achieve the milestones under the licensing agreement with a subsidiary of Schlumberger Limited and the risks discussed under “Risk Factors” in our Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) on March 3, 2016 as well as other reports filed by us with the SEC from time to time. 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.

Contact

Brian Uhlmer
buhlmer@energyrecovery.com
(713) 858-2284

###

The No. 1 Performing Stock in California (ERII)

SUMMARY

No, it’s not Apple or Alphabet. It is a technology company, but it more appropriately belongs in the energy sector.

The company is Energy Recovery – the global leader in pressure exchange technology.

The number one performing stock in California over the past 12-months may surprise you. No, it isn’t Apple (NASDAQ:AAPL) or Google (NASDAQ:GOOG). It is a technology company, but it more aptly belongs in the energy sector. The company is Energy Recovery (NASDAQ:ERII) and it has soared 400% over the past 12-months on the heels of its transformative agreement with Schlumberger (NYSE:SLB).

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Energy Recovery Confirms Purchase Order for Middle East Gas Processing Project For Up to $11 Million

SAN LEANDRO, Calif., July 18, 2016 — Energy Recovery, Inc. (NASDAQ: ERII), the leader in pressure energy technology for industrial fluid flows, announced today the finalization of a purchase order associated with the previously announced letter of award totaling up to $11 million to provide its IsoBoost™ technology for integration into a major gas processing plant to be constructed in the Middle East. The contract is for approximately $7 million worth of equipment and services, with an option for an additional $4 million to be determined at a later date. The optional supply may not be confirmed by the client until the latter portion of 2017. Partial recognition of revenue from this project is expected towards the end of 2016.

Energy Recovery will supply and install multiple IsoBoost systems for the new-build plant, each designed with a flow capacity of approximately 6,000 gallons per minute. A shipment could occur as early as the second quarter of 2017.

Energy Recovery estimates its IsoBoost technology will reduce the facility’s ongoing power consumption by 6.5 MW, saving over 57 GWh of energy per year, all while reducing CO2 emissions by 39,000 tons per year. When installed, the IsoBoost units will enable the processing of 2,500 MMSCFD of non-associated gas from two fields into clean-burning natural gas.

Energy Recovery’s President and CEO Joel Gay stated, “Today, our Company has executed a deal that marks significant progress in our gas processing segment, making good on our commitment to ensure 2016 is a year of execution and delivery. A project of this size validates the IsoBoost value proposition of arbitraging wasted pressure energy, increasing plant availability and reducing the carbon footprint of what is projected to be one of the world’s largest gas processing plants. The continued development of this business segment also demonstrates real progress in applying our technologies to new industries and applications, strengthening the omni-cyclical nature of our business and ultimately delivering value to all of our stakeholders.”

About Energy Recovery

Energy Recovery (NASDAQ: ERII) recycles and converts wasted pressure energy into a usable asset and preserves 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 oil & gas, chemical processing, and water industries.  Energy Recovery products save clients more than $1.7 billion (USD) annually.  Headquartered in the Bay Area, Energy Recovery has offices in Ireland, Shanghai, and Dubai.  For more information about the Company, please visit our website atwww.energyrecovery.com.

Forward-Looking Statements

This press release contains forward-looking statements that reflect management’s current expectations, assumptions and estimates of future performance and economic conditions, including without limitation expectations regarding the amount and timing of the revenues associated with the referenced purchase order and the shipment of the IsoBoost technology, reductions in power consumption and carbon dioxide emissions from the IsoBoost technology, and Energy Recovery’s ability to deliver products containing its technologies, including the IsoBoost and VorTeq technologies. 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. Examples of these risks and uncertainties include the risks and uncertainties identified under “Risk Factors” in our Form 10-K for the year ended December 31, 2015 and in our other securities filings. These forward-looking statements represent Energy Recovery’s judgment as of the date of this release. Energy Recovery disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Energy Recovery Receives Letter of Award for New Middle East Gas Processing Project For Up to $11 Million

SAN LEANDRO, Calif.—April 20, 2016 —Energy Recovery, Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today received a Letter of Award (the “award”) to provide its IsoBoostTM technology for integration into a major gas processing plant to be constructed in the Middle East. The award value is approximately $7 million worth of equipment and services, with a potential to supply an additional $4 million worth of equipment and services. The total potential value could be worth approximately $11 million; however the optional supply may not be confirmed by our client until the latter portion of 2017.

In accordance with the award and upon issuance of a purchase order, Energy Recovery would supply and install multiple IsoBoost systems for a new-build plant, each designed with a flow capacity of approximately 6,000 gallons per minute. This award is consistent with the Company’s strategy to establish a beachhead in the Gulf Cooperation Council countries (“GCC”). A shipment could occur as early as the second quarter of 2017.

The IsoBoost system recovers otherwise wasted pressure energy during acid gas removal in gas and chemical processing plants, allowing these facilities to save energy and ensure reliable operations. Energy Recovery estimated its IsoBoost devices will reduce the plant power consumption by 6.5 MW, saving over 57 GWh of energy per year, all while reducing CO2 emissions by 39,000 tons per year. When installed, the IsoBoost units would enable the processing of 2,500 MMSCFD of non-associated gas from two fields into clean-burning natural gas.

Energy Recovery’s President and CEO Joel Gay stated, “This award represents another milestone in Energy Recovery’s corporate strategy, which emphasizes the proliferation of disruptive technologies in target-rich environments such as the GCC. While both the IsoBoost and IsoGen technologies for gas and chemical processing applications have been commercially viable for a number of years, this award is a direct result of the swift organizational changes made last year to our Emerging Markets Sales Team now led by Eric Siebert, Vice President of Corporate Strategy. The award crystallizes the IsoBoost value proposition of arbitraging wasted pressure energy, increasing plant availability and reducing the carbon footprint of what is projected to be one of the world’s largest gas processing plants. I stated during our year-end call that we would make meaningful progress in the gas processing segment in 2016. This award is a measure of our progress and confirms that 2016 is the year of delivery.”

In October 2015, Energy Recovery announced a 15-year licensing deal with Schlumberger for its VorTeq hydraulic pumping system, which took the company’s proven PX Pressure Exchanger® technology and applied it to upstream oil & gas. The IsoBoost system has taken the company’s proven turbocharger-based energy recovery system, of which there have been 3,000 installed across the globe to enable the desalination of seawater, and applied it to midstream gas processing. This award is consistent with a key component of Energy Recovery’s product strategy – creating markets where pressure energy is being wasted.

About Energy Recovery

Energy Recovery (NASDAQ:ERII) recycles and converts wasted pressure energy into a usable asset and preserves 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 oil & gas, chemical processing, and water industries.  Energy Recovery products save clients more than $1.7 billion (USD) annually.  Headquartered in the Bay Area, Energy Recovery has offices in Ireland, Shanghai, and Dubai.  For more information about the Company, please visit our website at www.energyrecovery.com.

Forward-Looking Statements

This press release contains forward-looking statements that reflect management’s current expectations, assumptions and estimates of future performance and economic conditions, including without limitation expectations regarding the amount and timing of the revenues associated with the referenced award and the shipment of the IsoBoost technology, reductions in power consumption and carbon dioxide emissions from the IsoBoost technology, and Energy Recovery’s ability to deliver products containing its technologies, including the IsoBoost and VorTeq technologies. 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. Examples of these risks and uncertainties include the risks and uncertainties identified under “Risk Factors” in our Form 10-K for the year ended December 31, 2015 and in our other securities filings. These forward-looking statements represent Energy Recovery’s judgment as of the date of this release. Energy Recovery disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact:
FTI Consulting
Marc D. Cunningham
ir@energyrecovery.com
(713) 353-5407
###

Energy Recovery Announces Successful Completion of Field Trials for VorTeq Hydraulic Pumping System

SAN LEANDRO, California — January 7, 2016 — Energy Recovery, Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced the successful completion of field trials for its VorTeq® hydraulic pumping technology.

In partnership with Liberty Oilfield Services, full scale field testing concluded in December 2015 with the most ambitious test to date, a horizontal well in North Dakota’s Bakken Formation. The VorTeq system was employed in a proppant-laden slickwater well completion and successfully pumped at flow rates and pressures typical to the basin, performing in the most hostile weather conditions recorded during the testing period.

Energy Recovery’s President and CEO Joel Gay stated, “The completion of this field test is a critical step towards full commercialization of VorTeq. This success is the consequence of exhaustive testing and refinement of the VorTeq system and our PX® Pressure Exchanger® technology utilized as a pump.”

Ron Gusek, Vice President of Technology & Development at Liberty Oilfield Services stated, “The VorTeq system proved its mettle in a very challenging environment. We are excited about this technology and the real cost savings this application can provide us in the field.”

VorTeq utilizes Energy Recovery’s revolutionary PX Pressure Exchanger technology to pressurize fluids without exposing pumps to the highly abrasive proppants that cause frequent equipment failure and significant lost time for crews in the field. This innovation is expected to significantly extend the service life of high-pressure pumping equipment employed in well completions and to improve overall operational efficiency by reducing the amount of downtime due to pump failures and maintenance.

In October, Energy Recovery announced a 15-year licensing deal with Schlumberger, which will give Schlumberger exclusive rights to use VorTeq technology for its global onshore hydraulic fracturing operations. The deal provided a $75 million exclusivity fee to Energy Recovery and includes two separate $25 million payments subject to Energy Recovery meeting certain key performance milestones expected to be evaluated in 2016.

About Energy Recovery

Energy Recovery (NASDAQ:ERII) recycles and converts wasted pressure energy into a usable asset and preserves 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 oil & gas, chemical processing, and water industries.  Energy Recovery products save clients more than $1.5 billion (USD) annually.  Headquartered in the Bay Area, Energy Recovery has offices in Ireland, Shanghai, and Dubai.  For more information about the Company, please visit our website at www.energyrecovery.com.

Forward-Looking Statements

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 meeting future milestones and the eventual commercialization of the VorTeq system 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.

Contact:

Marc Cunningham
ir@energyrecovery.com
(713) 353-5407

ENERGY RECOVERY SIGNS 15-YEAR LICENSE WITH SCHLUMBERGER TO PROVIDE EXCLUSIVE RIGHTS TO ITS VORTEQ™ HYDRAULIC FRACTURING TECHNOLOGY

Deal includes $125 million in upfront payments paid in stages to Energy Recovery

SAN LEANDRO, CA, October 19, 2015 – Energy Recovery, Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced a 15-year deal with Schlumberger Technology Corporation, the world’s leading supplier of geoscience, engineering, drilling, and data management software products and computing services for the exploration and production industry. The agreement provides exclusive rights to Energy Recovery’s VorTeq™ hydraulic pumping system, the first hydraulic fracturing manifold (“missile”) built to isolate hydraulic fracturing pumps from abrasive proppants that cause pump failure.

The VorTeq system is a hydraulic pumping system that replaces the missiles traditionally used in hydraulic fracturing. In current operations, the missile routes water, proppants (sand or ceramics) and chemicals downhole at treating pressures up to 15,000 psi. However, the proppants cause frequent failures in the high pressure hydraulic fracturing pumps. With VorTeq, high-pressure hydraulic fracturing pumps will process clean or proppant-free water and transfer the hydraulic energy to the hydraulic fracturing fluid within the VorTeq missile.

Under the terms of the agreement, Schlumberger will pay a $75 million exclusivity fee immediately. Schlumberger will also pay two separate $25 million milestone payments (for a total of $50 million) subject to the Company satisfying certain key performance indicators expected to occur in 2016. The agreement also includes continuing annual royalties for the duration of the license agreement subject to the Company satisfying certain key performance indicators.

Energy Recovery’s President and Chief Executive Officer Joel Gay stated, “We are thrilled to be working with Schlumberger, the world’s largest oil field services company, and a leading supplier of technology associated with hydraulic fracturing solutions. We believe VorTeq is a paradigm shift for the hydraulic fracturing industry as it significantly reduces maintenance costs associated with pumping downtimes and provides considerable redundancy efficiencies.”

“We believe this technology offers Schlumberger the immediate benefit of reducing wear and tear on its pumps, as well as reducing downtime. In the medium-term, we believe it provides Schlumberger additional savings associated with eliminating redundant equipment onsite,” said Gay. “For a company in this market who wants to keep producing but needs to be mindful of costs, this technology tackles these challenges and delivers meaningful results.”

The heart of the VorTeq system is Energy Recovery’s Pressure Exchanger technology, which is the leading pressure energy recovery device in desalination with over 16,000 devices deployed globally. The technology works by capturing and recycling otherwise wasted pressure energy in fluid flows, by a clean liquid-to-liquid energy exchange between high pressure and low pressure fluids. With a single moving part made of tungsten carbide, one of the most abrasion resistant materials on the planet, the system has been engineered to withstand tremendous pressure and harsh conditions, and transfers up to 95% of the hydraulic energy from one fluid to the next.

Conference Call

The Company will host a teleconference at 5:30 a.m. (Pacific Time) on Tuesday, October 20th, 2015 to discuss the deal. To listen to the live call, individuals can access the conference call by dialing 877-415-3185, passcode #64509095 approximately 10 minutes before the scheduled start time. For those who cannot listen to the live broadcast, replays will be available shortly after the call on the Company’s website.

# # #

About Energy Recovery

Energy Recovery (NASDAQ:ERII) recycles and converts wasted pressure energy into a usable asset and preserves 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 oil & gas, chemical processing, and water industries.  Energy Recovery products save clients more than $1.5 billion (USD) annually.  Headquartered in the Bay Area, Energy Recovery has offices in Ireland, Shanghai, and Dubai.  For more information about the Company, please visit our website at www.energyrecovery.com.

Forward-Looking Statements

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 receipt of milestone payments, and future revenue growth related to royalty payments are forward-looking and involve risks and uncertainties including but not limited to the meeting of key milestones, adoption rates, and deflationary oil pricing. 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.

Contact:

FTI Consulting
Marc Cunningham
ir@energyrecovery.com
(713) 353-5407

Energy Recovery Commences Field Trials of its VorTeq™ Pump Protection System for Hydraulic Fracturing

SAN LEANDRO, Calif.–Energy Recovery Inc. (ERII), the leader in pressure energy technology for industrial fluid flows, today announced the commencement of field trials for its innovative VorTeq™ hydraulic pumping system.

Liberty Oilfield Services will conduct the trials at various well sites throughout the Bakken formation. The trials are expected to last at least six months. These field tests follow months of successful in-house testing, as well as extensive tests at the fabrication facility earlier this quarter. The field tests will include deployment of the VorTeq system to a live well site for testing under production conditions.

The VorTeq is the first product engineered to increase runtime and reduce maintenance costs by rerouting abrasive, proppant-laden frac fluid away from existing hydraulic fracturing pumps, such that these pumps only process clean water, and therefore last significantly longer. The core of the VorTeq hydraulic pumping system is Energy Recovery’s PX Pressure Exchanger® technology, which is already in use in more than 15,000 desalination installations worldwide.

Energy Recovery President and Chief Executive Officer Mr. Joel Gay stated, “We are excited to move forward in the next stage of development of VorTeq, which is an evolution of our existing PX technology to target a substantial addressable market. We will continue to work closely with Liberty Oilfield Services and anticipate being very deliberate in our approach. A successful field trial process will require a methodical testing process and engineering excellence to optimize the design of the product prior to full commercialization. We designed the product to fill a necessary market need while providing a significant value proposition to customers in the hydraulic fracking business. We feel that this value proposition will remain attractive throughout all pricing cycles for active frac service providers by allowing substantial cost savings and addressing the very real problem of regular pump failure. We are very pleased with the development process of the VorTeq to date and look forward to continuing this momentum.”

Ron Gusek, Vice President of Technology and Development at Liberty Oilfield Services, said, “For the past ten years I’ve been thinking about a way to avoid pumping sand through our high pressure pumps. During the last several months, I’ve been seeing this come to fruition with the development of VorTeq. The field tests, which include testing at a live well site, are not only the culmination of months of collaboration with Energy Recovery, but for me, the solution to a critical problem in our work that has challenged the industry for years.”

About Energy Recovery

Energy Recovery (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 San Francisco Bay Area, Energy Recovery has offices in Shanghai and Dubai.

Forward-Looking Statements

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 belief of the success of the VorTeq hydraulic pumping system trial phase 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.Contact:Media:
Energy Recovery
Alex Dolan, +1 510-746-2574
adolan@energyrecovery.com
or
Investors:
The Equity Group Inc.
Adam Prior, +1 212-836-9606
aprior@equityny.com

Energy Recovery Commissions First IsoGen Turbogenerator System for Saudi Aramco

SAN LEANDRO, Calif.—April 1, 2015—Energy Recovery Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced the commissioning of its first IsoGen® system for a gas processing plant owned by the Saudi Arabian Oil Company (Saudi Aramco). This marks Energy Recovery’s largest project to date in the oil and gas industry.

The IsoGen system is a turbogenerator system that recycles otherwise wasted pressure energy and converts it into electrical power. The system allows gas processing plants to reduce their reliance on the power grid by powering their plant with recovered pressure energy powered and recycled through their current operations.

The gas plant will use IsoGen to optimize production and energy consumption. Instead of completely relying on electrical power coming from the utility grid, the plant will now be able to power its operations in part through energy generated and recycled through the IsoGen device. Energy Recovery estimates that the plant will recover 3,400 MWh of energy per year.

Energy Recovery’s Chief Financial Officer Mr. Joel Gay, said, “Saudi Aramco has a well-earned reputation for being a forward-thinking company, especially when it comes to emerging technologies. We are thrilled to be working with such a giant in the industry, but not surprised that Saudi Aramco has been the first to recognize the value our technology represents.  We have found that gas processors and oil pipeline companies are natural customer segments for our IsoGen™ technology, which fulfills a need to control how much power is drawn from the grid to ensure optimal operations. As with this particular gas plant, we feel that multiple operators endeavor to produce to capacity with less concern about energy consumption or the volatility of market pricing.  Our IsoGen system meets these needs by giving operators the opportunity to tap into the often overlooked resource of pressure energy. This installation represents not only a significant point of market penetration, but an important milestone in the evolution of Energy Recovery in our ability to successfully design and deliver viable solutions through a technically complex and elongated sales cycle.”

About Energy Recovery’s Line of Iso Devices

The IsoGen system has also been designed to be a solution for oil pipelines, where downhill flows create excess pressure that can easily be converted into useful electricity. IsoGen is part of Energy Recovery’s larger line of Iso devices, which includes the IsoBoost™, a hydraulic system that also taps into the often overlooked resource of pressure energy. Instead of using that energy to generate electrical power, the IsoBoost helps ensure smooth operations in gas processing plants, offering a hydraulic system that is more economical, safer, and with three times the life of a traditional pump.

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 San Francisco Bay Area, Energy Recovery has offices in Shanghai and Dubai.

Forward-Looking Statements

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 future operations of the IsoGen and IsoBoost including the operational and economic benefits 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.

Media Contact:

Alex Dolan
adolan@energyrecovery.com
+1.510.746.2574

Investor Contact:

The Equity Group Inc.
Adam Prior
aprior@equityny.com
+1.212.836.9606

2015 GPA Convention

How Do You Perform Under Pressure?

You are cordially invited to behold and wonder at feats of strength and acts of genius.

Energy Recovery Pressure Lounge
Monday, April 13
6:30pm
Conference Room 12
2015 GPA Convention
San Antonio, TX

For one night only, Energy Recovery will host the Pressure Lounge, where you can test your brains and brawn against your fellow attendees.

Our top two champions will win new Apple watches.

Energy Recovery Wins Prestigious International IET Innovation Award in Two Categories

Energy Recovery Inc. (NASDAQ: ERII), the leader in harnessing reusable energy from industrial fluid flows and pressure cycles, announced today that the Company has won two excellence and innovation awards for engineering and technology in the categories of Power/Energy and Sustainability from the Institution of Engineering and Technology(IET). These awards celebrate pioneering work across engineering and technology for Energy Recovery’s market-leading PX energy recovery solution in the desalination and oil & gas industries.  The PX Pressure Exchanger®, lauded for its precision-engineering, has contributed significantly to fresh water production, energy cost-savings and carbon reduction worldwide.

The IET Innovation Awards celebrate the very best innovations in science, engineering and technology across the globe. Energy Recovery’s commitment to developing innovative technologies is rooted in its 20 year history. Over the past two and a half years the Company has redoubled its R&D efforts, resulting in more patents filed in just the past two years than its entire history as a company. By recently adapting its principal technology to new sectors such as oil & gas, clean energy and chemical processing, Energy Recovery has once again proven that invention is at the Company’s core.

“As a company we have invested very heavily in developing new products for the energy sector over the past two and half years, allowing us to go back to our roots as engineering innovators who are constantly pushing technological limits.  We are extremely happy to have won this prestigious award for engineering innovation and with it the industry’s endorsement for all of our hard work. As a company, we are driven by a two pronged goal: to give real economic value to our customers and to make a positive environmental impact on our world,” says Tom Rooney, CEO of Energy Recovery. ”We are particularly proud to be given this IET award alongside such an impressive list of fellow innovators.”

Industrial processes such as desalination, natural gas treatment, power generation, and chemical processing are energy intensive and expensive. Energy Recovery’s PX devices make these high pressure fluid flow processes more sustainable by salvaging and reusing 60% of the energy previously lost, saving energy, money and reducing CO₂ emissions. Installed and used on seven continents, Energy Recovery technology boasts a 90% market share in the desalination industry.  The economics and environmental benefit continually underscore this innovation.

The winners of the 2013 IET Innovation Awards were announced at a black tie gala Awards Ceremony this evening at The Brewery, in London, November 20, 2013.

The full list of awardees for all categories can be seen on the IET Innovation Awards website.

For more information on the PX Pressure Exchanger, watch this video animation. And on the energy sector, see Energy Recovery’s work here.

About the Institution of Engineering and Technology (IET)

The IET is a world leading professional organization sharing and advancing knowledge to promote science, engineering and technology across the world. A professional home for life for engineers and technicians, and a trusted source of essential engineering intelligence, the Institution of Engineering and Technology (IET) has more than 150,000 members worldwide in 127 countries. See the organization’s website here.

About Energy Recovery

Energy Recovery Inc. (NASDAQ: ERII) technology harvests power from high-pressure fluid flows and pressure cycles. Through collaboration with industry, Energy Recovery helps make industrial processes within water, oil & gas, and other industries more profitable and environmentally sustainable. With over 15,000 energy recovery devices installed worldwide, Energy Recovery sets the standard for engineering excellence, cost savings, and technical services to clients across the globe. Year after year, the company’s clean technologies save clients over $1.4 Billion (USD) in energy costs. Headquartered in the San Francisco Bay Area, Energy Recovery has offices in Madrid, Shanghai, and Dubai. For more information,read our blog. energyrecovery.com

Energy Recovery Secures Contract with ConocoPhillips

Energy Recovery, Inc. (NASDAQ: ERII), the leader in recycling fluid pressure in the oil and gas, chemical and water industries, announced today that the Company has secured the first sale of its IsoBoost™ system for midstream gas processing to ConocoPhillips. Specifically designed to increase the runtime and reliability while lowering operating expenditures in natural gas processing, the IsoBoost is an integrated skid-mounted solution that improves uptime, reduces operating costs, and offers a return on investment as quick as six months.

As a new entrant in the oil and gas sector, the deal further anchors Energy Recovery as a solutions provider for the oil and gas industry. In addition to this expansion towards greater North America with its new oil and gas energy recovery systems, the IsoBoost solution fits well with Canada’s overall environmental and sustainability goals to reduce carbon emissions within big industry.

“Our IsoBoost system has been designed to provide significant energy savings and increase plant reliability. Customers in North America enjoy additional benefits such as carbon credits through the deployment of our highly reliable out-of-the-box solutions,” states David Barnes, chief sales officer at Energy Recovery.

“We are thrilled to be partnering with industry leader, ConocoPhillips, a leading oil and gas company that pushes the technology envelope in the energy sector,” remarks Tom Rooney, Energy Recovery CEO. “Given the new lows on crude oil prices as of late, our energy saving systems are more relevant than ever to our oil and gas clients. They want to improve their bottom lines in light of the tightening pricing environment.”

Watch a video on how the IsoBoost system uses high pressure flows in the amine gas treatment process to save energy.

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 in Barcelona, Shanghai, and Dubai. Learn more at www.energyrecovery.com.

Energy Recovery Announces Launch of VorTeq for Hydraulic Fracturing Industry

San Leandro, Calif. — December 8, 2014 — Energy Recovery Inc. (NASDAQ: ERII), the leader in pressure energy technology for industrial fluid flows, today announced the release of the VorTeqTM hydraulic pumping system, the first product engineered to increase runtime and reduce maintenance costs by rerouting abrasive frac fluid away from existing hydraulic fracturing pumps.

The current fracking pumping technology requires intensive and costly maintenance. In many cases, pumps are repaired and serviced daily. Energy Recovery’s VorTeq, designed to replace the traditional hydraulic fracturing manifold trailer, or “missile,” is expected to more than double the useful life of pump components that most frequently fail.

VorTeq re-routes proppant-filled fluid away from high-pressure pumps on fracking sites so these pumps only process fresh water, and therefore last significantly longer. VorTeq channels the abrasive fluids and sends them down the wellbore.

Liberty Oilfield Services, a subsidiary of Liberty Resources LLC, has signed an agreement to be the first well fracturing services provider to use Energy Recovery’s VorTeq hydraulic pumping system.

“The new VorTeq pumping system will change the way that companies frack, providing a more reliable and more cost-effective process. Beginning with our first customer, Liberty Oilfield Services, and given the significant ROI, we believe this product will become the new industry standard and will help Energy Recovery drive substantial growth and shareholder value. With our entry into hydraulic fracturing, we solidify our status as a diversified energy solutions provider with powerful and inevitable value propositions throughout oil & gas, chemical and water industrial fluid flow applications,” said Tom Rooney, CEO of Energy Recovery.

“Liberty Oilfield Services has always embraced emerging breakthroughs in the field, and VorTeq is the next major revolution in hydraulic fracturing technology. This system will give service providers a competitive edge by allowing substantial cost savings and additional production capacity. With fewer at-risk hours spent on maintenance, we believe VorTeq will also enhance safety during frac jobs,” said Ron Gusek, Vice President Technology & Development, Liberty Oilfield Services.

The core of the VorTeq hydraulic pumping system is Energy Recovery’s Pressure Exchanger (PX) technology, which is already in use in more than 15,000 desalination installations worldwide. The system handles up to 110 barrels per minute, with a treating pressure up to 15,000 psi. The system is elegantly designed with only one moving part, and made from tungsten carbide, which is 1,000 times more abrasion-resistant than steel.

Neal Hageman, Engineering Manager at Integrated Petroleum Technologies, worked with Energy Recovery to provide insight on the maintenance challenges faced by the service companies performing these treatments. Hageman said, “The maintenance challenges associated with pumping large volumes of proppant at high pressures and rates are an accepted part of day-to-day operations. Incorporating the VorTeq system could represent a paradigm shift in how the service company industry approaches preventative maintenance, because hydraulic horsepower pumps will no longer be exposed to the abrasive slurry mixture of proppant and water, the source of most maintenance issues. Eliminating these issues will reduce backup requirements and improve overall operational efficiency.”

Additional information on Energy Recovery’s VorTeq system can be found on the Company’s website www.energyrecovery.com.

Please visit Energy Recovery’s website at http://ir.energyrecovery.com/phoenix.zhtml?c=221013&p=irol-presentations to download presentation slides, which will be presented at the event.

About Energy Recovery Inc.

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 in Madrid, Shanghai, and Dubai.

###

Investor Relations Contact:

ir@energyrecovery.com

Media Contact:

Alex Dolan

Marketing Communications Director

510.746.2574

adolan@energyrecovery.com

Energy Recovery Enters Hydraulic Fracturing with Industry-Changing Pump Protection System

Energy Recovery Inc. (NASDAQ: ERII), the leader in pressure energy technology for industrial fluid flows, today announced its entry into the hydraulic fracturing (fracking) market through today’s launch of a revolutionary new product at an investor and analyst event in New York City.

The largest operational challenge facing the fracking industry today is the constant breakdown of high-pressure pumps caused by abrasive frac fluid (containing sand and ceramic proppants), which halts operations until the pumps can be repaired, resulting in lost runtime and lost profits.

Using its proven Pressure Exchanger (PX) technology, Energy Recovery has engineered the first product of its kind that will entirely protect the frac pumps from frac fluid, and in doing so, will prevent damage and significantly reduce the costs and time associated with maintenance, making for a cleaner, more efficient and cost-effective process.

“We have been deliberate in our efforts to diversify into markets where our technologies can be deployed to improve the overall efficiency of industrial fluid flow processes. The fracking industry represents the latest result of these efforts and further cements Energy Recovery’s transformation into a diversified energy solutions provider. Of all market opportunities being pursued, fracking presents the greatest combination of size and need. In analyzing the fracking market, it became immediately evident that onsite pump failures were a leading cause of downtime and generally, the greatest challenge faced by Pumpers. In addition to significant maintenance costs, the frequency of pump failures requires levels of redundancy that further exacerbate an operationally complex process and impede market growth. Our solution is an industry-changing technology that not only increases runtime and reduces operating costs, but more importantly will change the way Pumpers approach fracking. This is the largest addressable market that Energy Recovery has entered, and we look forward to providing additional information on the product itself and customer interest after its official launch later this morning,” said Tom Rooney, CEO of Energy Recovery.

According to PacWest Consulting Partners, the global hydraulic fracturing services market is estimated to be roughly $50 billion in 2014, and is projected to grow at a double-digit rate for the foreseeable future. Energy Recovery’s solution presents multiple frontiers of value creation for the hydraulic fracturing industry.

Immediately, it allows for the reduction of pump maintenance costs and a reduction in excess capacity required to mitigate pump failures. Eventually, as the market adopts the technology, it will act as the gateway to new pumping operating models, all of which represent a step-change in the fracking paradigm. Energy Recovery’s solution empowers both fracking service providers and well completion engineers with newfound freedom from the pumps they choose to the fluid they use. Considering just the reduction of pump maintenance costs and excess pumping capacity, Energy Recovery’s solution will avail the hydraulic fracking industry of more than $1 billion in annual savings. These savings will materially improve the operating margins of fracking service providers worldwide.

While the annual global addressable market is estimated to be roughly $1.4 billion, Energy Recovery’s initial focus will be on North America, which presents a market opportunity of approximately $1 billion.

To ensure the solution’s longevity in the market place, over the past 12 months, Energy Recovery has filed more than 40 patent applications.

Energy Recovery intends to issue another press release announcing details about the new product later this morning. Additionally, the Company will unveil its new technology during today’s analyst day in New York City.  For more information please visit the Company’s websitewww.energyrecovery.com.

About Energy Recovery Inc.

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 in Madrid, Shanghai, and Dubai.