SAN LEANDRO, Calif.,
Dec. 7, 2016
/PRNewswire/-- Energy Recovery, Inc.
(NASDAQ:ERII), the leader in pressure energy technology for
industrial fluid flows, today announced total awards of
$4.4 million to supply its
PXTM Pressure ExchangerTM technology for
desalination projects in North
Africa. The orders are expected to ship in the first half of
2017.
Energy Recovery will supply its PX-Q300 Pressure Exchanger
devices for the plants, which will produce a total of up to 170,000
cubic meters of water per day. Energy Recovery estimates the PX
devices will reduce the power consumption for all projects by 19.7
MW, saving over 170 GWh of energy per year, and helping them avoid
102,000 tons of CO2 emissions per year.
Energy Recovery's President and CEO Joel
Gay stated, "As we look to the end of 2016, we are committed
to driving our sales in desalination, with a focus on key regions
such as the Middle East and
North Africa. These new awards
fortify our position as the world leader in energy recovery
technology for desalination, and we will continue to push ourselves
to ensure that desalination plants around the globe have access to
the industry's most efficient and most reliable energy recovery
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 amount and timing of the
revenues associated with the referenced awards and the shipments of
the devices, reductions in power consumption from the technology,
expectations about future growth in the desalination industry,
Energy Recovery's market share, and Energy Recovery's ability to
deliver products containing its technologies, including in the
relevant regions and for major products. 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
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SOURCE Energy Recovery, Inc.