Energy Recovery Receives SWRO Contracts Totaling Over $9 Million in Asia
SAN LEANDRO, CA / ACCESSWIRE / February 16, 2023 / Energy Recovery, Inc.® (NASDAQ:ERII) today announced a set of contracts totaling over $9 million to supply its PX® Pressure Exchanger® energy recovery devices to desalination facilities in China, India, South Korea, and Indonesia. The orders are estimated to be fulfilled by the end of Q3 2023.
These contracts represent a mix of industrial and municipal applications and demonstrate the region's continuing investment in desalination. China and India in particular remain strong areas of growth for desalination as industrialization, water scarcity, and urbanization increase the need for effective clean water strategies. Energy Recovery products help to produce over four million cubic meters per day of freshwater in Asia.
"Rapid development and industrialization are putting a strain on the already insufficient natural freshwater supply in many parts of Asia. Like most countries across the world, China, India, South Korea, and Indonesia have seen their per capita renewable freshwater resources plummet in recent decades," said Rodney Clemente, Energy Recovery Senior Vice President of Water. "By significantly reducing the power intensity and environmental impact of water treatment processes, such as seawater reverse osmosis (SWRO) desalination and industrial wastewater treatment, the PX makes clean water more accessible and sustainable around the world."
Energy Recovery estimates that when these plants are completed, the PX will prevent nearly 170,000 tons of carbon emissions from entering the atmosphere each year, which is equivalent to removing more than 36,000 passenger cars from the road.
About Energy Recovery
Energy Recovery (NASDAQ:ERII) creates technologies that solve complex challenges for commercial and industrial fluid-flow markets worldwide. Building on our pressure exchanger technology platform, we design and manufacture solutions that make commercial and industrial processes more efficient and sustainable. What began as a game-changing invention for desalination has grown into a global business accelerating the environmental sustainability of customers' operations in multiple industries. Headquartered in the San Francisco Bay Area, Energy Recovery has manufacturing and research and development facilities across California and Texas with sales and on-site technical support available globally. For more information, please visit www.energyrecovery.com.
Forward Looking Statements
Certain matters discussed in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including the Company's expectations on timing of shipments and estimates of tons of emissions eliminated upon completion of the plants. These forward-looking statements are based on information currently available to us and on management's beliefs, assumptions, estimates, or projections and are not guarantees of future events or results. Potential risks and uncertainties and any other factors that may have been discussed herein regarding the risks and uncertainties of the Company's business, and the risks discussed under "Risk Factors" in the Company's Form 10-K filed with the U.S. Securities and Exchange Commission ("SEC") for the year ended December 31, 2022 as well as other reports filed by the Company with the SEC from time to time. Because such forward-looking statements involve risks and uncertainties, the Company's actual results may differ materially from the predictions in these forward-looking statements. All forward-looking statements are made as of today, and the Company assumes no obligation to update such statements.
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SOURCE: Energy Recovery
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Released February 16, 2023