Energy Recovery Awarded $2.3 Million for Mega Desalination Plant in China
SAN LEANDRO, Calif.—December 21, 2015—Energy Recovery Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced an award for $2.3 million to supply its PX Pressure Exchanger® technology for a mega desalination plant in China.
For the project, Energy Recovery will partner with Beijing Originwater Technology Co., Ltd.,. The order is expected to ship during the second quarter of 2016.
Energy Recovery will supply its PX-Q300 Pressure Exchanger devices for the Dongjiakou desalination plant, located in Shandong province in China. The plant will produce 100,000 cubic meters of fresh water per day. Energy Recovery estimates the PX devices will reduce the plant power consumption by 14.3 MW, saving over 122 GWh of energy per year, and help it avoid 87,700 tons of CO2 emissions per year.
Energy Recovery’s President and CEO Joel Gay stated, “This deal marks our first mega project in China since 2010. We are excited to fortify our offerings in the region, and to end this year on a commanding note.”
About Energy Recovery
Energy Recovery (NASDAQ:ERII) recycles and converts wasted pressure energy into a usable asset and preserves 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 more than $1.5 billion (USD) annually. Headquartered in the Bay Area, Energy Recovery has offices in Ireland, Shanghai, and Dubai. For more information about the Company, please visit our website at www.energyrecovery.com.
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 receipt of milestone payments, and future revenue growth related to royalty payments are forward-looking and involve risks and uncertainties including but not limited to the meeting of key milestones, adoption rates, and deflationary oil pricing. 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.