SAN LEANDRO, Calif.--(BUSINESS WIRE)--Mar. 13, 2015--
Recovery Inc. (NASDAQ:ERII), the leader in pressure
energy technology for industrial fluid flows, today announced new
desalination orders for projects utilizing its PX® Pressure Exchanger®
Technology in India and Ghana. Collectively, these original manufacturer
(OEM) projects represent approximately $1 million in revenue and are
expected to be delivered in the first half of 2015.
One of the mid-sized projects will be installed in a desalination
plant in Bhavanapadu, on the eastern coast of India. This plant will
use Energy Recovery’s PX Pressure Exchanger technology along with
Energy Recovery’s Aquabold™ pumps.
Veolia Environment purchased Energy Recovery’s technology for the
other project, which will be installed at its desalination plant
located near the southern tip of Ghana. This plant will use Energy
Recovery’s PX Pressure Exchanger technology along with Energy
Recovery’s Aquabold pumps.
Joey Gay, Chief Financial Officer of Energy Recovery, stated, “We are
continuing to see steady revenue from small-to-medium sized OEM orders
internationally. We are fortunate to partner with companies like Veolia
and many others that value our innovations. We intend to continue
keeping investors apprised of orders such as these, where we are
continuing to maintain our market-leading position for global
desalination projects where energy efficiency and reliability are
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 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 the
expected shipment date of the referenced products 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
Source: Energy Recovery Inc.
Energy Recovery Inc.
Equity Group Inc.
Adam Prior, +1-212-836-9606