Subjects: CON, CXP
Energy Recovery Awarded $3.3 Million for Water Projects in Asia
SAN LEANDRO, Calif., April 25, 2019 /PRNewswire/ -- Energy Recovery, Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced total awards of $3.3 million (USD) to supply its PX® Q300 Pressure Exchanger® devices along with related equipment and services to multiple desalination facilities across Asia. The devices are expected to ship in Q2 of 2019.
"Our core Water business continues to build positive momentum. We recently shipped our 20,000th PX Pressure Exchanger unit, a major milestone for Energy Recovery, and we are poised to exceed last year's record results," said Energy Recovery President and CEO Chris Gannon. "The seawater reverse osmosis (SWRO) desalination industry continues to evolve, and we are seeing a meaningful increase in project activity. Importantly, the industry is in the fifth year of an upcycle, and we see no signs of it softening."
Energy Recovery estimates the PX Pressure Exchangers supplied to these desalination facilities will reduce power consumption for all projects by 11.6 megawatts (MW), saving over 100 gigawatt hours (GWh) of energy per year. The facilities will produce up to 162,400 cubic meters of water per day, equivalent to filling almost 65 Olympic-sized swimming pools daily1.
"Asia is an emerging market for SWRO desalination, and we see growth opportunities in strategic territories across the region. Faced with rising demands for fresh water, countries throughout Asia from China and India to Singapore are adopting SWRO desalination as part of a comprehensive, diversified water supply strategy," said Energy Recovery Vice President of Water, Rodney Clemente. "Singapore is representative of this growing trend, with five mega-scale SWRO desalination facilities currently either in production or under construction with aggressive plans in place to further move towards water independence."
Sources
1 ? Fédération Internationale de Natation (FINA) Facilities Rules
About Energy Recovery
Energy Recovery, Inc. (ERII) is an energy solutions provider to industrial fluid flow markets worldwide. Energy Recovery solutions recycle and convert wasted pressure energy into a usable asset and preserve 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 $1.9 billion (USD) annually. Headquartered in the Bay Area, Energy Recovery has offices in Dubai, Houston, Madrid, and Shanghai. For more information about the Company, 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 expectations regarding the timing of shipments of the orders, our ability to exceed last year's results, and reductions in power consumption from the technology. 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. Because such forward-looking statements involve risks and uncertainties, our actual results may differ materially from the predictions in these forward-looking statements. All forward-looking statements are made as of today, and we assume no obligation to update such statements, whether as a result of new information, future events, or otherwise.
Contact
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SOURCE Energy Recovery, Inc.
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