SAN LEANDRO, Calif., Oct. 26, 2017 /PRNewswire/ -- Energy Recovery, Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced total awards of $3.3 million to supply its PXTM Pressure ExchangerTM technology for desalination projects in Egypt. The orders are expected to ship in the 4th quarter of 2017.
Energy Recovery will supply its PX-Q300 Pressure Exchangers for multiple facilities, which will produce up to 155,000 cubic meters of water per day. Energy Recovery estimates the PX devices will reduce the plants' power consumption for all projects by 15.5 MW, saving over 133.6 GWh of energy per year, and helping the plants avoid over 79,800 tons of CO2 emissions per year.
Energy Recovery's President and CEO Joel Gay stated, "Energy Recovery continues to build upon its leading position in the global desalination market, delivering cost effective solutions with best-in-class technology to drive improvement in facilities around the world. These awards are continued proof points that our PX technology enables industry partners to maximize profitability by minimizing life-cycle cost. With our world-class team of engineers and decades of experience, Energy Recovery continues to maintain a laser focus on delivering innovation, product excellence, and growth for our customers and shareholders."
About Energy Recovery
Energy Recovery, Inc. (ERII) is an energy solutions provider to industrial fluid flow markets worldwide. Energy Recovery solutions recycle and convert wasted pressure energy into a usable asset and preserve pumps that are subject to hostile processing environments. With award-winning technology, Energy Recovery simplifies complex industrial systems while improving productivity, profitability, and efficiency within the oil & gas, chemical processing, and water industries. Energy Recovery products save clients more than $1.8 billion (USD) annually. Headquartered in the Bay Area, Energy Recovery has offices in Houston, Ireland, Shanghai, and Dubai. For more information about the Company, please visit www.energyrecovery.com.
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, including expectations regarding the timing of shipments of the orders, reductions in power consumption from the technology and market share expectations. 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. Because such forward-looking statements involve risks and uncertainties, our actual results may differ materially from the predictions in these forward-looking statements. All forward-looking statements are made as of today, and we assume no obligation to update such statements, whether as a result of new information, future events, or otherwise.
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SOURCE Energy Recovery, Inc.