Energy Recovery Secures Contract with ConocoPhillips
Energy Recovery, Inc. (NASDAQ: ERII), the leader in recycling fluid pressure in the oil and gas, chemical and water industries, announced today that the Company has secured the first sale of its IsoBoost™ system for midstream gas processing to ConocoPhillips. Specifically designed to increase the runtime and reliability while lowering operating expenditures in natural gas processing, the IsoBoost is an integrated skid-mounted solution that improves uptime, reduces operating costs, and offers a return on investment as quick as six months.
As a new entrant in the oil and gas sector, the deal further anchors Energy Recovery as a solutions provider for the oil and gas industry. In addition to this expansion towards greater North America with its new oil and gas energy recovery systems, the IsoBoost solution fits well with Canada’s overall environmental and sustainability goals to reduce carbon emissions within big industry.
“Our IsoBoost system has been designed to provide significant energy savings and increase plant reliability. Customers in North America enjoy additional benefits such as carbon credits through the deployment of our highly reliable out-of-the-box solutions,” states David Barnes, chief sales officer at Energy Recovery.
“We are thrilled to be partnering with industry leader, ConocoPhillips, a leading oil and gas company that pushes the technology envelope in the energy sector,” remarks Tom Rooney, Energy Recovery CEO. “Given the new lows on crude oil prices as of late, our energy saving systems are more relevant than ever to our oil and gas clients. They want to improve their bottom lines in light of the tightening pricing environment.”
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 Bay Area, Energy Recovery has offices in Barcelona, Shanghai, and Dubai. Learn more at www.energyrecovery.com.