SAN LEANDRO, Calif.--(BUSINESS WIRE)--May 19, 2015--
Recovery Inc. (NASDAQ:ERII), the leader in pressure energy
technology for industrial fluid flows, has shipped the components for a
$1 million desalination plant project in Sur, Oman. For this project,
Energy Recovery is partnering with Sidem, a global desalination leader
headquartered in France. Energy Recovery expects to recognize revenue on
the shipment in the Company’s current second quarter.
Sidem will use Energy Recovery’s PX-Q300 Pressure Exchanger devices for
the plant in Sur in the Ash Sharqiyah Region of northeastern Oman. The
award-winning PX Pressure Exchanger remains the most efficient and
reliable energy recovery solution on the market for desalination,
operating with 98% efficiency in its energy exchange.
Joel Gay, President and Chief Executive Officer for Energy Recovery,
stated, “The current project in Oman adds to the legacy of partnership
between Energy Recovery and Sidem. Having successfully deployed our PX
Pressure Exchanger technology into another major project with Sidem, we
continue to act as the preferred supplier of energy recovery solutions
with the Q-series of our PX devices. This project has experienced delays
over the past year, and we feel this shipment is an indicator of a
strengthening global desalination market, the sustainability of which
will lend to our continued penetration into emerging markets.”
About Energy Recovery
Energy Recovery (NASDAQ:ERII) develops award-winning solutions to
improve productivity, profitability, and energy efficiency within the
oil & gas, chemical, and water industries. Our products simplify complex
systems and protect vulnerable equipment. By recycling fluid pressure
that would otherwise be lost in critical processes, we save clients more
than $1.4 billion (USD) annually. Headquartered in the San Francisco Bay
Area, Energy Recovery has offices in Shanghai and Dubai.
This press release contains forward-looking statements that reflect
management's current expectations, assumptions and estimates of future
performance and economic and market conditions. Such statements are made
in reliance upon the safe harbor provisions of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. The company cautions investors that any forward-looking statements
are subject to risks and uncertainties that may cause actual results and
future trends to differ materially from those matters expressed in or
implied by such forward-looking statements. Statements about future
opportunity growth are forward-looking and involve risks and
uncertainties. Energy Recovery disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of
new information, future events, or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150519005941/en/
Source: Energy Recovery Inc.
Alex Dolan, +1-510-746-2574
Equity Group Inc.
Adam Prior, +1-212-836-9606