SAN LEANDRO, Calif. — April 22, 2020 — Energy Recovery, Inc. (NASDAQ: ERII) today announced new project awards totaling over $2.5 million. The Company will supply PX® Pressure Exchanger® devices (“PX”) and related equipment and services to multiple desalination facilities in China with a combined capacity of more than 140,000 cubic meters per day, or more than 37 million gallons per day.
“Despite the challenges presented by the global coronavirus pandemic, our team has adjusted rapidly, and we continue to win new projects, fulfill orders, and do everything in our power to support our customers. Our products play a key role in the operation of domestic and international water treatment infrastructure, supplying much-needed water to communities and businesses around the world. These projects, which will service China’s industrial sector, were awarded in March and April of this year as China’s coronavirus outbreak began reaching a more manageable level, and the country was beginning to open up. This makes me cautiously optimistic about the future,” said Robert Mao, Energy Recovery Chairman and Interim President and Chief Executive Officer.
The Asia-Pacific region is expected to be one of the fastest growing regions for desalination in the coming years. Throughout the region, rapid industrialization and urbanization have created a significant increase in the need for freshwater, and seawater reverse osmosis (“SWRO”) desalination can play a key part in meeting this demand. Oxfam, an alliance of NGOs focused on the alleviation of global poverty, recently singled out SWRO desalination as one of the most efficient methods to provide clean, potable water for communities in need in this region.
“China was one of the earliest adopters of our PX Pressure Exchanger. For over 20 years we have viewed China as an exciting market, and it’s encouraging to see industry continuing to invest in desalination as the country slowly resumes business activities,” commented Rodney Clemente, Energy Recovery Senior Vice President of Water. “Thanks to innovations like our PX, SWRO is beginning to rival the cost of some traditional water management sources and is far more energy efficient today than in the past. Once these facilities are in operation, our PXs are expected recycle hydraulic energy equivalent to over 120 gigawatt hours of energy annually, an amount associated with approximately 70,000 metric tons of carbon emissions. These facilities add to our already strong presence in China, and we are proud to continue to be the technology of choice and an integral part of China’s rich desalination past, present and future.”
About Energy Recovery
For more than 20 years, Energy Recovery, Inc. (NASDAQ: ERII) has created technologies that solve complex challenges in industrial fluid-flow markets. We design and manufacture solutions that reduce waste, improve operational efficiencies, and lower the production costs of clean water and oil and gas. What began as a game-changing invention for water desalination has grown into a global business delivering solutions that enable more affordable access to these critical resources. Both our headquarters in San Leandro, California, and our Commercial Development Center in Katy, Texas house on-site research, development and manufacturing facilities. In addition, our worldwide sales and technical service organization provides on-site support for our line of water solutions. For more information, 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 the amount of hydraulic energy our devices will recycle, our expectation that the Asia Pacific region will be one of the fastest growing regions for desalination and our ability to supply such growth. 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.
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