Energy Recovery Named Manufacturer of the Year by Prestigious 2016 Texas Oil & Gas Awards
SAN LEANDRO, Calif.—November 7, 2016 — Energy Recovery, Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, has been recognized as Manufacturer of the Year by the prestigious 2016 Texas Oil & Gas Awards. The Awards recognized the innovation of Energy Recovery’s VorTeqTM hydraulic pumping system.
The VorTeq system addresses a major pain point in hydraulic fracturing by re-routing abrasive proppants away from high pressure pumps. This allows the high pressure pumps to process only clean fluid, thereby extending their life and helping to prevent daily failures on frac sites.
Energy Recovery’s President and CEO Joel Gay stated, “We are thrilled to be recognized by such an influential award in the oil and gas industry. Energy Recovery has rapidly evolved from a small innovator to an engineering hub that draws some of the finest minds in oil and gas. We feel honored to have earned this kind of recognition among our peers, and look forward to announcing future disruptive applications of our Pressure Exchanger technology.”
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 $1.7 billion (USD) annually. Headquartered in the Bay Area, Energy Recovery has offices in Houston, Ireland, Shanghai, and Dubai. Learn more at 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 announcing future applications of Energy Recovery’s Pressure Exchanger 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. Potential risks and uncertainties include our ability to achieve the milestones under the licensing agreement with a subsidiary of Schlumberger Limited and the risks discussed under “Risk Factors” in our Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) on March 3, 2016 as well as other reports filed by us with the SEC from time to time. 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.