SAN LEANDRO, Calif.,
March 28, 2017 /PRNewswire/
-- 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
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SOURCE Energy Recovery, Inc.