SAN LEANDRO, Calif.,
Oct. 11, 2017 /PRNewswire/
-- Energy Recovery, Inc. (NASDAQ:ERII), the leader in
pressure energy technology for industrial fluid flows, today
announced total awards of $5.8
million to supply its PXTM Pressure
ExchangerTM technology for desalination projects in the
Middle East. The orders are
expected to ship in the 4th quarter of 2017.
Energy Recovery will supply its PX-Q300 Pressure Exchanger
devices for the plants, which will produce a total of up to 335,000
cubic meters of water per day. Energy Recovery estimates the PX
devices will reduce the plants' power consumption for all projects
by 33 MW, saving over 281 GWh of energy per year, and helping the
plants avoid over 168,000 tons of CO2 emissions per
year.
Energy Recovery's President and CEO Joel
Gay stated, "The Middle
East remains a bellwether for desalination activity and a
key market for Energy Recovery. This award is another testament to
our continued focus on increasing market share in the region by
providing our customers with the best energy recovery technology
available. Moving into 2018 we will seek to leverage our latest PX
technology and the Prime Performance Energy Services Agreement, or
ESA, as another tool with which to unseat the competition and
provide premier energy recovery solutions to both our existing and
ever-growing customer base."
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 timing of shipments of the
orders, reductions in power consumption from the technology, market
share expectations and our ability to implement Prime Performance
Energy Services Agreement. 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.