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Dan
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Energy
Recovery, Inc.
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Schwartz
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abold@energyrecovery.com
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ENERGY
RECOVERY, INC. COMPLETES ACQUISITION OF
PUMP
ENGINEERING, L.L.C.
SAN LEANDRO, Calif.— DEC. 22, 2009—Energy Recovery, Inc.
(NASDAQ: ERII), a leader in the design and development of energy recovery
devices for the desalination industry, today announced that on December 21,
2009, it completed the acquisition of Pump Engineering, L.L.C. based in New
Boston, Michigan. Under the terms of the agreement, ERI paid the shareholders of
Pump Engineering $20 million in cash plus one million shares of ERI Common
Stock.
About
Pump Engineering
Pump
Engineering is a leading provider of centrifugal turbine energy-saving
technology for seawater and brackish desalination applications, and has
demonstrated support for emerging markets such as natural gas and high pressure
fluid processing. Pump Engineering’s hydraulic turbochargers and pumps are
custom-designed to reduce energy consumption and increase efficiency in specific
process conditions. Much like ERI’s line of PX energy recovery devices, Pump
Engineering’s products are simple to operate, durable and require a small
footprint in a plant. Pump Engineering will operate as a wholly owned
subsidiary of Energy Recovery, Inc.
About
Energy Recovery, Inc.
Energy
Recovery, Inc. (NASDAQ:ERII) designs and develops energy recovery devices that
help make desalination affordable by significantly reducing energy consumption.
Energy Recovery’s PX Pressure Exchangerä (PXä) device is a rotary
positive displacement pump that recovers energy from the high pressure reject
stream of seawater reverse osmosis systems at up to 98% efficiency. The company
is headquartered in the San Francisco Bay Area with offices in key desalination
centers worldwide, including Madrid, Shanghai, Florida and the United Arab
Emirates. For more information about Energy Recovery, Inc. and the PX
technology, please visit www.energyrecovery.com.