Energy Recovery Awarded Nearly $17 Million in Desalination Contracts in the Gulf Region
25 Juillet 2023 - 1:00PM
Business Wire
Energy Recovery (NASDAQ: ERII) today announced a collection of
contracts totaling nearly $17 million to supply PX® Pressure
Exchanger® energy recovery devices for desalination facilities in
the Gulf region. These PX devices are expected to prevent over
400,000 metric tons of carbon emissions from entering the
atmosphere each year, the equivalent of removing over 85,000
passenger cars from the road each year.
These contracts include a municipal desalination facility that
will produce over 500,000 cubic meters per day (132 million
gallons) to a significantly water stressed region. These facilities
mark a major milestone in addressing the region’s critical water
scarcity challenges and reinforcing sustainable water security. By
adopting competitive and efficient seawater reverse osmosis (SWRO)
desalination technology, including hundreds of PX devices, these
facilities will also contribute to ongoing efforts in the region to
reduce the cost of water. The facilities are for both municipal and
industrial applications and the orders are expected to be fulfilled
by Q4 2023.
“Energy Recovery continues to be a trusted provider of energy
savings solutions for the desalination industry,” said Rodney
Clemente, Energy Recovery’s Senior Vice President of Water. “Our
customers rely on our expertise in producing high-quality devices
to support desalination projects of all sizes across many different
industries. In the Gulf region alone we have more than 200
references producing well over 15 million cubic meters per day of
drought-proof fresh water.”
The PX can reduce energy consumption in SWRO desalination by as
much as 60% and is trusted around the world to provide reliable
service in mega desalination plants. The PX provides the lowest
life cycle cost of any energy recovery device available on the
market, providing significant savings to plant operators and
bringing down the cost of clean water.
About Energy Recovery
Energy Recovery (NASDAQ: ERII) creates technologies that solve
complex challenges for commercial and industrial fluid-flow markets
worldwide. Building on our pressure exchanger technology platform,
we design and manufacture solutions that make commercial and
industrial processes more efficient and sustainable. What began as
a game-changing invention for desalination has grown into a global
business accelerating the environmental sustainability of
customers’ operations in multiple industries. Headquartered in the
San Francisco Bay Area, Energy Recovery has manufacturing and
research and development facilities across California and Texas
with sales and on-site technical support available globally. For
more information, 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. 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. Potential risks and
uncertainties and any other factors that may have been discussed
herein regarding the risks and uncertainties of the Company's
business, and the risks discussed under "Risk Factors" in the
Company's Form 10-K filed with the U.S. Securities and Exchange
Commission ("SEC") for the year ended December 31, 2022 as well as
other reports filed by the Company with the SEC from time to time.
Because such forward-looking statements involve risks and
uncertainties, the Company's actual results may differ materially
from the predictions in these forward-looking statements. All
forward-looking statements are made as of today, and the Company
assumes no obligation to update such statements.
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