The Institution of Engineering and Technology (IET) bestows Energy Recovery with awards in both the Power/Energy category and Sustainability category
SAN LEANDRO, Calif.-November 20, 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 won two excellence and innovation awards for engineering and technology in the categories of Power/Energy and Sustainability from the Institution of Engineering and Technology(IET). These awards celebrate pioneering work across engineering and technology for Energy Recovery's market-leading PX energy recovery solution in the desalination and oil & gas industries. The PX Pressure Exchanger®, lauded for its precision-engineering, has contributed significantly to fresh water production, energy cost-savings and carbon reduction worldwide.
The IET Innovation Awards celebrate the very best innovations in science, engineering and technology across the globe. Energy Recovery's commitment to developing innovative technologies is rooted in its 20 year history. Over the past two and a half years the Company has redoubled its R&D efforts, resulting in more patents filed in just the past two years than its entire history as a company. By recently adapting its principal technology to new sectors such as oil & gas, clean energy and chemical processing, Energy Recovery has once again proven that invention is at the Company's core.
"As a company we have invested very heavily in developing new products for the energy sector over the past two and half years, allowing us to go back to our roots as engineering innovators who are constantly pushing technological limits. We are extremely happy to have won this prestigious award for engineering innovation and with it the industry's endorsement for all of our hard work. As a company, we are driven by a two pronged goal: to give real economic value to our customers and to make a positive environmental impact on our world," says Tom Rooney, CEO of Energy Recovery. "We are particularly proud to be given this IET award alongside such an 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 were announced at a black tie gala Awards Ceremony this evening at The Brewery, in London, November 20, 2013.
The full list of awardees for all categories can be seen on the IET Innovation Awards website.
About the Institution of Engineering and Technology (IET)
The IET is a world leading professional organization sharing and advancing knowledge to promote science, engineering and technology across the world. A professional home for life for engineers and technicians, and a trusted source of essential engineering intelligence, the Institution of Engineering and Technology (IET) has more than 150,000 members worldwide in 127 countries. See the organization's website here.
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. For more information, read our blog. energyrecovery.com