SAN LEANDRO, Calif.--(BUSINESS WIRE)--Sep. 9, 2015--
Recovery Inc. (NASDAQ:ERII), the leader in pressure energy
technology for industrial fluid flows, today announced an award for $1.4
million to supply its PX Pressure Exchanger® technology for
the world’s first large-scale solar-powered desalination plant, located
in Saudi Arabia. The order is expected to ship during the first quarter
Energy Recovery will supply its PX-Q300 Pressure Exchanger devices as
part of a project that will supply 60,000 cubic meters of fresh water
per day. Energy Recovery estimates the PX devices will reduce plant
power consumption by 8.4 MW, saving over 73 GWh of energy per year. The
plant is expected to be online by the first quarter of 2017.
Energy Recovery’s President and CEO Joel Gay stated, “As a company at
the vanguard of desalination technology, we are proud to be part of a
project that represents another great leap forward for the industry. Our
PX Pressure Exchanger technology continues to play a crucial role in
desalination processes, even as plant designs evolve, which increases my
confidence that our technology will remain critical to this industry for
a long time to come.”
About Energy Recovery
Energy Recovery (NASDAQ:ERII) develops award-winning technology that
recycles unused pressure energy to improve productivity of industrial
pumping systems. Our technology protects vulnerable equipment and saves
substantial energy and maintenance costs for operators within the oil &
gas, chemical, and water industries. With more than 16,000 devices
worldwide, our products save clients more than $1.5 billion (USD)
annually. Headquartered in the San Francisco Bay Area, Energy
Recovery has offices in Shanghai and Dubai. Visit www.energyrecovery.com.
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/20150909006290/en/
Source: Energy Recovery Inc.
Energy Recovery Inc.
Equity Group Inc.
Adam Prior, +1.212.836.9606