San Leandro, CA /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.
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.
SOURCE: Energy Recovery, Inc.Copyright 2017 PR Newswire. All Rights Reserved