Energy Recovery Secures $650,000 Desalination Order with Degremont Iberia for Mid-Size Plant in Spain

SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced a $650,000 desalination OEM order from Degremont Iberia, S.A. (“Degremont”), a company focused on the production of drinking water from groundwater or surface water in industrialized countries.

This current retrofit installation is taking place at the IDAM Las Americas plant in Tenerife, part of Spain’s Canary Islands. Degremont will be installing Energy Recovery’s most reliable and efficient PXQ-300 devices along its seawater reverse osmosis (SWRO) trains in addition to its booster pumps. Energy Recovery already collaborated with Degremont on many projects around the world, including in the mega-sized, 52 million gallons per day Barcelona (Llobregat) Desalination Plant, which installed about 250 PX Pressure Exchanger energy recovery devices.

The order shipped to the plant earlier this quarter, and the retrofit is scheduled to be completed by the end of 2015.

Chief Financial Officer, Mr. Joel Gay, stated, “We are pleased to build upon our successful partnership with Degremont, a leader in building best-in-class plants, with more than 10,000 successful projects globally. This is the result of our After-Market group’s continued expansion into retrofit projects. While we are still cautious in evaluating the prospects of larger projects in desalination, we have seen steady improvement in both OEM and After-Market sales. We intend to continually seek new opportunities to utilize our technology to make end-user operations efficient and affordable.”

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 future opportunity growth in OEM and After-Market opportunities 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.

Media:
Alex Dolan, +1.510.746.2574
adolan@energyrecovery.com
or
Investor:
The Equity Group Inc.
Adam Prior, +1.212.836.9606

Source: Energy Recovery Inc.

Released March 18, 2015