SAN LEANDRO, Calif.--(BUSINESS WIRE)--Jun. 22, 2015--
Recovery Inc. (NASDAQ:ERII), the leader in pressure energy
technology for industrial fluid flows, today announced that the Company
has recently received $10.3 million in mega project awards to install
its PX Pressure Exchanger® technology in desalination plants in Asia and
the Middle East.
The Company expects to ship and recognize revenue in the second half of
2015 and first half of 2016.
Mr. Joel Gay, Energy Recovery’s President and Chief Executive Officer,
stated, “These recent mega project awards are indicative of continuing
progress in our desalination business, as new projects are up
year-over-year from 2014. We began the year cautiously optimistic
concerning desalination, and have seen many of our past customers
deploying capital as part of the improving desalination market. We are
building momentum, and feel that these recent wins further validate our
leadership position in the desalination market. We are confident that
the momentum will propel Energy Recovery forward as we continue
implementing technological innovations throughout the global water
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 our
expectations as to shipment timing 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/20150622005637/en/
Source: Energy Recovery Inc.
Energy Recovery Inc.
Alex Dolan, +1 510-746-2574
Equity Group Inc.
Adam Prior, +1 212-836-9606