The Institution of Engineering and Technology (IET) selects Energy Recovery as a finalist for the Power/Energy and Sustainability categories for PX Pressure Exchanger innovation
SAN LEANDRO, Calif.-October 9, 2013 - Energy Recovery Inc. (NASDAQ: ERII), the leader in harnessing reusable energy from industrial fluid flows and pressure cycles, announced today that the Company has been chosen as a finalist in two categories for the Institution of Engineering and Technology's (IET) Innovation Award for demonstrating its innovative work across engineering and technology for its game-changing PX energy recovery solution in the desalination and oil & gas industries. The PX Pressure Exchanger®, lauded for its precision-engineering, has contributed significantly to global energy costs-savings and carbon reductions worldwide.
The IET Innovation Awards celebrate the very best innovations in science, engineering and technology. Energy Recovery's commitment to developing innovative technologies is rooted in its 20 year history. The company has filed for more patents in the past two years than its history as a company. By adapting its principal technology to new sectors such as oil & gas, clean energy and chemical processing, Energy Recovery upholds that invention is at the Company's core.
"Over the last two years we've made a concerted effort to return to our roots as engineering innovators and exploring ways our technology can take on global energy challenges in various large industries," says Tom Rooney, CEO of Energy Recovery. "The fact that we are a finalist for both Energy/Power and Sustainability makes perfect sense - and we are pleased to be listed alongside this impressive list of fellow innovators."
Industrial processes such as desalination, natural gas treatment, power generation, and chemical processing are energy intensive and expensive. Energy Recovery's PX devices make these high pressure fluid flow processes more sustainable by salvaging and reusing 60% of the energy previously lost, saving energy, money and reducing CO2 emissions. Installed and used on seven continents, Energy Recovery technology boasts a 90% market share in the desalination industry. The economics and environmental benefit continually underscore this innovation.
The winners of the 2013 IET Innovation Awards will be announced at a black tie gala Awards Ceremony at The Brewery, in London, November 20, 2013.
About Energy Recovery
Energy Recovery Inc. (NASDAQ: ERII) technology harvests power from high-pressure fluid flows and pressure cycles. Through collaboration with industry, Energy Recovery helps make industrial processes within water, oil & gas, and other industries more profitable and environmentally sustainable. With over 15,000 energy recovery devices installed worldwide, Energy Recovery sets the standard for engineering excellence, cost savings, and technical services to clients across the globe. Year after year, the company's clean technologies save clients over $1.4 Billion (USD) in energy costs. Headquartered in the San Francisco Bay Area, Energy Recovery has offices in Madrid, Shanghai, and Dubai. www.energyrecovery.com