Energy Recovery Awarded $1.8 Million for Desalination Deal in Morocco
SAN LEANDRO, Calif.—August 17, 2015—Energy Recovery Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced a $1.8 million deal to supply its PX Pressure Exchanger® technology for a desalination plant in Morocco. The Company expects the order to ship in the fourth quarter of 2015.
The Pressure Exchangers will be installed by Morocco’s National Power Drinking Water Office (ONEE), which will process 100,000 cubic meters of water per day. They will be using PX-Q300 units, the highest-performing energy recovery devices available on the market.
The plant is being developed under ONEE as the first public-private partnership system, and will produce water for 500,000 people. The plant’s capacity could potentially be doubled in the future. Energy Recovery estimates that the plant will save 10.5 MW in power equivalent to 92 GWh per year in energy savings. The plant will also reduce its CO2 footprint by 54,200 tons per year.
Energy Recovery’s President and CEO Joel Gay stated, “We are proud to proliferate the use of our technology in the Middle East and North Africa region, which has some of the greatest need for desalination solutions. The plant represents not only a significant deployment of our Pressure Exchanger, but also the potential to, over time, expand to an additional 100,000 cubic meter facility. In this single site, we are grateful for the current opportunity and optimistic about its future potential.”
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.
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 our expectations as to shipment timing 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.
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