SAN LEANDRO, Calif.,
April 24, 2017 /PRNewswire/
-- Energy Recovery, Inc. (NASDAQ:ERII), the leader in
pressure energy technology for industrial fluid flows, today
announced total awards of roughly $3
million to supply its PXTM Pressure
ExchangerTM technology to retrofit several desalination
plants in Europe. The orders are
expected to ship in the in the second half of 2017.
Energy Recovery will supply its PX-Q300 and PX-Q260 Pressure
Exchanger devices for the plants, replacing existing turbine
technology. The projects will collectively produce a total of up to
133,000 cubic meters of water per day. Energy Recovery estimates
the PX devices will reduce power consumption for all projects by
2.5 MW, saving over 21.4 GWh of energy per year, and helping the
plants avoid more than 12,000 tons of CO2 emissions per
year.
Energy Recovery's President and CEO Joel
Gay stated, "These awards are yet another proof point around
our technological leadership within the global desalination
market. We will continue to aggressively attack the brownfield
retrofit market, targeting plants with legacy solutions thereby
continuing to grow our share of the desalination wallet and execute
against our long term strategy. The PX PrimeTM and
Prime Performance Energy Services Agreement, or ESA, will be yet
another tool in our repertoire which we will utilize to unseat the
competition and provide the premier energy recovery solutions to
our ever-growing customer base."
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.
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 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.