Energy Recovery Awarded $2 Million in Desalination Orders in 5 Countries
May 05 2015 - 8:30AM
Business Wire
New Orders in Egypt, Italy, Spain, UAE, and
Vietnam
Energy Recovery Inc. (NASDAQ:ERII), the leader in pressure
energy technology for industrial fluid flows, today announced new
desalination orders for projects utilizing its PX® Pressure
Exchanger® Technology in Egypt, Italy, Spain, the United Arab
Emirates, and Vietnam. Collectively, these original manufacturer
(OEM) projects represent approximately $2 million in revenue and
are expected to be delivered by the end of the third quarter.
Project Overview
- A joint venture between two
desalination leaders in Spain, Elmasa Tecnología del Agua, S.A
(ELMASA) and CANARAGUA, will be using Energy Recovery’s PX-Q300
devices for a desalination plant retrofit in Spain. The technology
will replace Pelton turbines.
- Hyundai Engineering and Construction, a
global engineering company headquartered in Seoul, will partner
with Aquatech International, a worldwide desalination leader based
in Pennsylvania, to use Energy Recovery’s PX-Q300 devices in a new
offshore oilfield project near Abu Dhabi.
- Veolia Environment SA, a Paris-based
transnational environmental services company, will use Energy
Recovery’s AquaBold and AT-875 Turbocharger for a new plant in
Sinai, Egypt.
- Protecno, based in Italy, will use
Energy Recovery’s PX Pressure Exchangers and booster pumps as their
standard units in their SWRO plants, and will keep them in their
stock for fast-track opportunities.
- Protecno will also use the PX Pressure
Exchanger and booster pumps for a new undisclosed plant location in
Italy.
- Hyorim Industries Inc., an
international manufacturer based in Korea, will use Energy
Recovery’s PX Pressure Exchanger, Aquabold pumps, and circulation
pumps for a new desalination plant in Vietnam. While Energy
Recovery has partnered with Hyorim in the past, this will mark the
first time the company has used PX Pressure Exchanger devices with
Energy Recovery pumps.
Joey Gay, Chief Executive Officer of Energy Recovery, stated,
“We continue to increase our global footprint with small- to
medium-sized OEM orders. We intend to announce similar orders in
the future to keep our investors informed of our ongoing progress,
from the constant flow of projects such as these to the larger
projects that we undertake in the oil & gas, chemicals, and
water segments.”
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 including
the timing of shipments. 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 referenced products 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:Energy Recovery Inc.Alex Dolan, +1
510-746-2574adolan@energyrecovery.comorInvestors:The Equity
Group Inc.Adam Prior, +1 212-836-9606aprior@equityny.com
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