Energy Recovery Awarded $1 Million in Desalination Orders in India and Ghana
SAN LEANDRO, Calif.—-Mar. 13, 2015– Energy Recovery Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced new desalination orders for projects utilizing its PX® Pressure Exchanger® Technology in India and Ghana. Collectively, these original manufacturer (OEM) projects represent approximately $1 million in revenue and are expected to be delivered in the first half of 2015.
- One of the mid-sized projects will be installed in a desalination plant in Bhavanapadu, on the eastern coast of India. This plant will use Energy Recovery’s PX Pressure Exchanger technology along with Energy Recovery’s Aquabold™ pumps.
- Veolia Environment purchased Energy Recovery’s technology for the other project, which will be installed at its desalination plant located near the southern tip of Ghana. This plant will use Energy Recovery’s PX Pressure Exchanger technology along with Energy Recovery’s Aquabold pumps.
Joey Gay, Chief Financial Officer of Energy Recovery, stated, “We are continuing to see steady revenue from small-to-medium sized OEM orders internationally. We are fortunate to partner with companies like Veolia and many others that value our innovations. We intend to continue keeping investors apprised of orders such as these, where we are continuing to maintain our market-leading position for global desalination projects where energy efficiency and reliability are valued.”
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 the expected shipment date of the referenced products 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.
Source: Energy Recovery Inc.