SAN LEANDRO, Calif.--(BUSINESS WIRE)--Apr. 28, 2015--
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.
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.
Alex Dolan, +1 510-746-2574
Equity Group Inc.
Adam Prior, +1 212-836-9606