SAN LEANDRO, Calif.—March 15, 2018 — Energy Recovery, Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced total awards of $4 million to supply its PX® Pressure Exchanger® technology for desalination projects in Egypt. The orders are expected to ship in the 1st half of 2018.
Energy Recovery will supply its PX-Q300 Pressure Exchangers for multiple desalination facilities in Egypt, which will produce up to 160,000 cubic meters of water per day. Energy Recovery estimates the PX devices will reduce the facilities’ combined power consumption by 15.6 MW, saving over 134.5 GWh of energy per year, and helping the facilities avoid over 80,400 tons of CO2 emissions per year.
Energy Recovery’s President and CEO Chris Gannon stated, “These recent awards are the direct result of the dedicated efforts of our water team and an indication of Energy Recovery’s continuing strength in the global desalination market. As we have emphasized in our most recent earnings call, we are laser-focused throughout 2018 on supporting and growing our desalination business and unlocking previously untapped market potential through packaged solutions and offerings like the Prime Performance Energy Services Agreement.”
Rodney Clemente, Energy Recovery’s Vice President, Global Desalination Sales Operations, added, “We have and will continue to target Egypt as a strategic territory for Energy Recovery. The country was one of the earliest adopters of our industry-leading PX Pressure Exchanger technology with our first units in the country deployed approximately 15 years ago. Our innovative solutions put us in an excellent position to leverage Egypt’s planned growth in desalination, and we will continue to support our local strategic partners and customers in the region through the tireless efforts of our Sales and Service teams.”
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.
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, our ability to grow our desalination business and unlocking untapped market potential, our ability to offer packaged solutions and the Prime Performance Energy Services Agreement, and our ability to leverage Egypt’s planned growth in desalination. 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.