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04/28/15

Energy Recovery Commences Field Trials of its VorTeq™ Pump Protection System for Hydraulic Fracturing


SAN LEANDRO, Calif.--(BUSINESS WIRE)--Apr. 28, 2015-- Energy Recovery Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced the commencement of field trials for its innovative VorTeq™ hydraulic pumping system.

Liberty Oilfield Services will conduct the trials at various well sites throughout the Bakken formation. The trials are expected to last at least six months. These field tests follow months of successful in-house testing, as well as extensive tests at the fabrication facility earlier this quarter. The field tests will include deployment of the VorTeq system to a live well site for testing under production conditions.

The VorTeq is the first product engineered to increase runtime and reduce maintenance costs by rerouting abrasive, proppant-laden frac fluid away from existing hydraulic fracturing pumps, such that these pumps only process clean water, and therefore last significantly longer. The core of the VorTeq hydraulic pumping system is Energy Recovery’s PX Pressure Exchanger® technology, which is already in use in more than 15,000 desalination installations worldwide.

Energy Recovery President and Chief Executive Officer Mr. Joel Gay stated, “We are excited to move forward in the next stage of development of VorTeq, which is an evolution of our existing PX technology to target a substantial addressable market. We will continue to work closely with Liberty Oilfield Services and anticipate being very deliberate in our approach. A successful field trial process will require a methodical testing process and engineering excellence to optimize the design of the product prior to full commercialization. We designed the product to fill a necessary market need while providing a significant value proposition to customers in the hydraulic fracking business. We feel that this value proposition will remain attractive throughout all pricing cycles for active frac service providers by allowing substantial cost savings and addressing the very real problem of regular pump failure. We are very pleased with the development process of the VorTeq to date and look forward to continuing this momentum.”

Ron Gusek, Vice President of Technology and Development at Liberty Oilfield Services, said, “For the past ten years I’ve been thinking about a way to avoid pumping sand through our high pressure pumps. During the last several months, I’ve been seeing this come to fruition with the development of VorTeq. The field tests, which include testing at a live well site, are not only the culmination of months of collaboration with Energy Recovery, but for me, the solution to a critical problem in our work that has challenged the industry for years.”

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.

Forward-Looking Statements

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 belief of the success of the VorTeq hydraulic pumping system trial phase 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.

Source: Energy Recovery Inc.

Media:
Energy Recovery
Alex Dolan, +1 510-746-2574
adolan@energyrecovery.com
or
Investors:
The Equity Group Inc.
Adam Prior, +1 212-836-9606
aprior@equityny.com