Energy Recovery Awarded Nearly $17 Million in Desalination Contracts in the Gulf Region
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery (NASDAQ: ERII) today announced a collection of contracts totaling nearly $17 million to supply PX® Pressure Exchanger® energy recovery devices for desalination facilities in the Gulf region. These PX devices are expected to prevent over 400,000 metric tons of carbon emissions from entering the atmosphere each year, the equivalent of removing over 85,000 passenger cars from the road each year.
These contracts include a municipal desalination facility that will produce over 500,000 cubic meters per day (132 million gallons) to a significantly water stressed region. These facilities mark a major milestone in addressing the region’s critical water scarcity challenges and reinforcing sustainable water security. By adopting competitive and efficient seawater reverse osmosis (SWRO) desalination technology, including hundreds of PX devices, these facilities will also contribute to ongoing efforts in the region to reduce the cost of water. The facilities are for both municipal and industrial applications and the orders are expected to be fulfilled by Q4 2023.
“Energy Recovery continues to be a trusted provider of energy savings solutions for the desalination industry,” said Rodney Clemente, Energy Recovery’s Senior Vice President of Water. “Our customers rely on our expertise in producing high-quality devices to support desalination projects of all sizes across many different industries. In the Gulf region alone we have more than 200 references producing well over 15 million cubic meters per day of drought-proof fresh water.”
The PX can reduce energy consumption in SWRO desalination by as much as 60% and is trusted around the world to provide reliable service in mega desalination plants. The PX provides the lowest life cycle cost of any energy recovery device available on the market, providing significant savings to plant operators and bringing down the cost of clean water.
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. 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
Released July 25, 2023