SAN LEANDRO, Calif.,
March 27, 2018 /PRNewswire/
-- Energy Recovery, Inc. (NASDAQ:ERII), the leader in
pressure energy technology for industrial fluid flows, today
announced total awards of $10.1
million to supply its PX® Pressure
Exchanger®, and pump technologies for water projects in
Saudi Arabia. The orders are
expected to ship in the second and third quarters of 2018.
Energy Recovery will supply its PX-Q300 Pressure Exchangers,
VPXPTM circulation pumps and AquaBoldTM high
pressure pumps for multiple desalination facilities, which will
produce up to 470,000 cubic meters of water per day. Energy
Recovery estimates the PX devices will reduce the facilities' power
consumption for all projects by 50 MW, saving over 431 GWh of
energy per year, and helping the facilities avoid over 258,000 tons
of CO2 emissions per year.
Energy Recovery's President and CEO Chris Gannon stated, "Megaprojects and the
Middle East remain key indicators
as to the health of the overall water market, and we see continued
strength throughout 2018 and into 2019. We remain focused on
maximizing customer value with end-to-end recovery solutions that
combine our PX Pressure Exchanger and pump technologies in a single
comprehensive offering, as seen in these recent awards."
Rodney Clemente, Energy
Recovery's Vice President, Water, added, "Historically, the Saudi
Arabian market was difficult for membrane desalination technologies
to penetrate as low-cost, local power enabled technologies such as
thermal desalination to initially gain majority market share. Due
to advancements in seawater reverse osmosis technologies and
increased awareness in energy preservation, there has been a shift
from thermal desalination to seawater reverse osmosis solutions. We
first deployed our PX Pressure Exchanger Technology into
Saudi Arabia in 2013, and over the
past 5 years we have captured 8 mega project references. Energy
Recovery is positioned to unlock emerging market opportunities and
remains focused on maintaining market position in critical
countries like the Kingdom of Saudi
Arabia."
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, the
Company's ability to unlock emerging market opportunities and
market share expectations. 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
Emily Smith
esmith@energyrecovery.com
(510) 746-2512
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SOURCE Energy Recovery, Inc.