Energy Recovery Drives Desalination in United States with $1 Million Awarded for California and Texas Projects
July 30 2015 - 8:30AM
Business Wire
Energy Recovery Inc. (NASDAQ:ERII), the leader in pressure
energy technology for industrial fluid flows, today announced $1
million in awards for desalination projects in California and
Texas.
Energy Recovery will supply its PX-Q300 Pressure Exchanger
devices and AquaBold high-pressure pumps for the Charles E. Meyer
Desalination Plant retrofit in Santa Barbara, California, in
partnership with IDE technologies, a global water treatment
solutions firm headquartered in Israel. The plant has a capacity of
15 MLD divided in three trains, which could be expanded in the
future to double its capacity. Energy Recovery estimates that the
plant will save about 26 GWh per year in energy consumption, and
reduce its carbon footprint by about 15,000 tons per year. Order
shipment is expected in the third quarter of this year.
Energy Recovery’s President and CEO Joel Gay stated, “For the
Santa Barbara plant, we are supplying the PXs and the AquaBold
high-pressure pumps. Sourcing both devices through Energy Recovery
maximizes efficiencies for any plant, and we hope it will become a
best practice for the desalination industry.”
In addition, Energy Recovery will provide PX-Q300 Pressure
Exchangers for the M&G Chemicals Corpus Christi Facility in
Texas, constructed by the company to produce plastics materials for
the largest polyethylene terephthalate (PET) plant in the world.
The Company has partnered with the Italveco Group, a global
environmental engineering company headquartered in Italy. The
desalination plant associated with the Corpus Christi facility is
expected to produce 6 million gallons of water per day (MGD) to
cover plant’s utility needs such as cooling system and boiler
systems water make up, among others, and is expected to be in
production by the first quarter of 2016. Energy Recovery estimates
that the facility will save about 40 GWh per year in energy
consumption, and reduce its carbon footprint by almost 24,000 tons
per year. Order shipment is expected in the 4th quarter of
2015.
Mr. Gay added, “Energy Recovery has 16,000 devices in use around
the world, but with the demand for desalination having been
historically limited in the United States, we have had
disproportionately few installations in our home country. This is
starting to shift. While political factors will continue to present
a challenge to widespread adoption of desalination in the U.S.,
these projects are a clear response to the epic drought that
continues to wreak havoc on a number of state economies. As
the provider of the foremost enabling technology in desalination,
we are well positioned to benefit from and are proud to contribute
to the domestic growth of the industry.”
Energy Recovery has already installed its PX-Q300 devices at the
Carlsbad Desalination Plant in California, which is expected to
begin production in 2015, and will produce 50 MGD for San Diego
County.
About Energy Recovery
Energy Recovery (NASDAQ:ERII) develops award-winning
technology that recycles unused pressure energy to improve
productivity of industrial pumping systems. Our technology protects
vulnerable equipment and saves substantial energy and maintenance
costs for operators within the oil & gas, chemical, and water
industries. With more than 16,000 devices worldwide, our products
save clients more than $1.5 billion (USD) annually.
Headquartered in the San Francisco Bay Area, Energy
Recovery has offices in Shanghai and Dubai. Visit
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 shipment timing 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150730005636/en/
Energy Recovery Inc.Media:Alex Dolan,
+1-510-746-2574adolan@energyrecovery.comorInvestors:The
Equity Group Inc.Adam Prior, +1-212-836-9606aprior@equityny.com
Energy Recovery (NASDAQ:ERII)
Historical Stock Chart
From Mar 2024 to Apr 2024
Energy Recovery (NASDAQ:ERII)
Historical Stock Chart
From Apr 2023 to Apr 2024