Energy Recovery Awarded $4.4 Million for Desalination Projects in the Sultanate of Oman
SAN LEANDRO, Calif. — January 24, 2019 — Energy Recovery, Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced total awards of $4.4 million (USD) to supply its PX® Pressure Exchanger® technology for desalination projects in the Sultanate of Oman. These desalination projects are expected to ship in Q2 and Q3 of 2019.
Energy Recovery will supply its PX-Q300 Pressure Exchangers for multiple facilities, which will collectively produce up to 200,000 cubic meters (m3) of water per day, the equivalent of filling 80 Olympic-size swimming pools. Energy Recovery estimates the PX devices will reduce the facilities’ power consumption for all projects by 16 MW, saving over 138 GWh of energy per year and helping the facilities avoid over 82,800 tons of CO2 emissions per year.
Chris Gannon, Energy Recovery’s President and CEO, stated, “This award is a strong start to 2019, which is shaping up as a high-growth year for our water business based on our current backlog and pipeline. We are continuing to see growth in the global desalination market, in part because desalination offers one solution to the growing water scarcity in different parts of the world. Among other impacts, scarcity can threaten economic growth because water is a core ingredient of many industrial processes.”
Rodney Clemente, Energy Recovery’s Vice President, Water, added, “We have seen unprecedented large-scale desalination activity in the Sultanate of Oman over the past five years. I am proud that Energy Recovery’s PX, turbocharger devices and pumping technologies can be found in many SWRO facilities in-country, representing nearly 1 million m3/day of installed capacity. Our attractive life-cycle-cost value proposition and ability to deliver meaningful energy savings continues to resonate with our valued customers.”
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 more than $1.9 billion (USD) annually. Headquartered in the Bay Area, Energy Recovery has offices in Houston, Shanghai, and Dubai. For more information about the Company, please visit www.energyrecovery.com.
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, reductions in power consumption from the technology, and the potential of 2019 being a high-growth year for our water business. 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.