SAN LEANDRO, Calif.,
Aug. 16, 2017 /PRNewswire/ -- Energy
Recovery, Inc. (NASDAQ: ERII), the leader in pressure energy
technology for industrial fluid flows, today announced total awards
of $2.7 million to supply its
PXTM Pressure ExchangerTM technology for
desalination projects in China.
The orders will begin shipping in the fourth quarter of 2017.
Energy Recovery will supply its PX-Q300 Pressure Exchanger
devices for the plants, which will produce a total of up to 115,000
cubic meters of water per day. Energy Recovery estimates the PX
devices will reduce the total power consumption for all projects by
9.1 MW, saving a total of over 78.3 GWh of energy per year and
avoiding 46,820 tons of CO2 emissions per year.
Energy Recovery's President and CEO Joel
Gay stated, "These awards further solidify Energy Recovery's
position as the leader in ERD technology for the desalination
industry, both globally and in the critical market of China.
As we move into 2018 and beyond, we expect to see private-public
partnerships, enabled by the Chinese bond connect plan, further
stimulate growth in this pivotal market. We remain confident
that our horizontal integration into project financed initiatives
such as the Prime Performance ESA, and comprehensive packaged
solutions with strong industry partnerships will ideally position
us to battle the stochastic nature of this market while providing
our best in class Pressure Exchanger technology to customers
focused on optimizing their plant operations."
About Energy Recovery
Energy Recovery, Inc. (ERII) is
an energy solutions provider to industrial fluid flow markets
worldwide. Energy Recovery solutions recycle and convert wasted
pressure energy into a usable asset and preserve 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. For more information about the Company,
please visit 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,
estimates of emissions avoided through employing 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. 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.