Energy Recovery Awarded $4.9 Million for Desalination Projects in the United Arab Emirates
SAN LEANDRO, Calif. — February 21, 2019 — Energy Recovery, Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced total awards of $4.9 million to supply its PX® Pressure Exchanger® technology for desalination projects in the United Arab Emirates (UAE). Energy Recovery’s PX-Q300 Pressure Exchangers are expected to ship in Q1 of 2019 to multiple desalination facilities included in this project award.
“We expect strong results this year in our water business, which continues to provide high-efficiency energy recovery and pumping solutions to the growing seawater reverse osmosis desalination market,” said Chris Gannon, President and CEO of Energy Recovery. “Seawater reverse osmosis desalination is critical to meeting fresh water needs in regions that experience water scarcity. In Dubai, the most populous city in the UAE, desalination meets more than 99 percent of the city’s water needs1.”
The PX-Q300 Pressure Exchanger, part of Energy Recovery’s PX Q Series line, operates more quietly than the standard PX product line while delivering valuable energy savings to customers. Energy Recovery estimates the PX Pressure Exchangers supplied to these desalination facilities will reduce power consumption for all projects by 21.7 megawatts (MW), saving over 187 gigawatt hours (GWh) of energy per year. The energy savings are approximately equivalent to the total electricity consumed by Dubai over one and a half days2. The facilities will produce up to 218,000 cubic meters of water per day, comparable to filling more than 87 Olympic-sized swimming pools on a daily basis3.
“This strong wave of project activity underscores the significant operational savings that customers enjoy from our PX Pressure Exchanger technology,” added Rodney Clemente, Vice President, Water with Energy Recovery. “The desalination universe continues to revolve around the Middle East, and I am proud of our team’s ability to leverage our unmatched reference list in the region to execute these large-scale projects. We remain focused on driving long-term value for our customers globally via our technology and commercial and technical support services.”
About Energy Recovery, Inc.
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.
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, strength of results in 2019, 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.