Energy Recovery Awarded $2.3 Million for Mega Desalination Plant in China
SAN LEANDRO, Calif., Dec. 22, 2015 (GLOBE NEWSWIRE) -- Energy Recovery Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced an award for $2.3 million to supply its PX® Pressure Exchanger® technology for a mega desalination plant in China.
For the project, Energy Recovery will partner with Beijing Originwater Technology Co., Ltd. The order is expected to ship during the second quarter of 2016.
Energy Recovery will supply its PX-Q300 Pressure Exchanger devices for the Dongjiakou desalination plant, located in Shandong province in China. The plant will produce 100,000 cubic meters of fresh water per day. Energy Recovery estimates the PX devices will reduce the plant power consumption by 8.5 MW, saving over 73 GWh of energy per year, and help it avoid 43,800 tons of CO2 emissions per year.
Energy Recovery’s President and CEO Joel Gay stated, “China’s marketplace is an expanding environment for our energy recovery products. We are excited to broaden our offerings in the region, and to end this year on a commanding note.”
About Energy Recovery
Energy Recovery (NASDAQ:ERII) recycles and converts wasted pressure energy into a usable asset and preserves 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 $1.5 billion (USD) annually. Headquartered in the Bay Area, Energy Recovery has offices in Ireland, Shanghai, and Dubai. For more information about the Company, please visit our website at www.energyrecovery.com.
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 expectations as to estimated shipment dates 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.
Contact: FTI Consulting Brian Grove ir@energyrecovery.com (713) 353-5406
Released December 22, 2015