SAN LEANDRO, CA / ACCESSWIRE / June 14, 2022 / Energy Recovery, Inc. (NASDAQ:ERII) today announced three contract awards totaling over $8.2 million to supply its PX® Pressure Exchanger® energy recovery devices to seawater reverse osmosis (SWRO) desalination facilities in Asia. The orders are expected to be fulfilled by the end of Q3 of 2022.
When completed, Energy Recovery estimates the plants will prevent nearly 180,000 metric tons of carbon dioxide emissions each year, the same amount of emissions produced by over 39,000 passenger cars in the same time period. Once these contracts are completed, Energy Recovery will support the production of over 4 million cubic meters of water per day in Asia.
Continued water scarcity, industrialization, rapid urbanization, and population growth continue to amplify the need for stable and energy-efficient supply of freshwater in parts of Asia. All three facilities, located in China and India, will supply communities that are highly water-stressed.
"China and India both fall well below the global average of renewable freshwater resources at 2,000 and 1,000 cubic meters per capita, respectively - a small fraction of the global average of 5,600 cubic meters per capita," said Rodney Clemente, Energy Recovery Senior Vice President of Water. "Both countries are increasingly looking to SWRO desalination as part of their strategies to build a more resilient, robust, and reliable water supply, thanks to leading innovations like the PX that have helped make the economic and environmental impacts of SWRO more sustainable. As the leading energy recovery device for desalination, the PX is trusted around the world to provide significant cost and emissions savings."
Energy Recovery's PX can reduce energy consumption in SWRO facilities by as much as 60%. The PX provides the lowest life cycle cost of any energy recovery device available on the market, providing significant savings to plant operators and bringing down the cost of clean water.
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 Company's estimates on order shipment and avoided carbon dioxide emissions; our belief that China and India are increasingly looking to SWRO desalination as part of their strategies to build a more resilient, robust and reliable water supply; our belief that the PX has helped make the economic and environmental impacts of SWRO more sustainable; our belief that the PX is the leading energy recovery device for desalination; our belief that the PX is trusted around the world to provide significant cost and emissions savings; and our belief that the PX can reduce energy consumption in SWRO facilities by as much as 60%; and our belief that our technology provides the lowest lifecycle cost of any energy recovery device available on the market. 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 and any other factors that may have been discussed herein regarding the risks and uncertainties of the Company's business, and the risks discussed under "Risk Factors" in the Company's Form 10-K filed with the U.S. Securities and Exchange Commission ("SEC") for the year ended December 31, 2020 as well as other reports filed by the Company with the SEC from time to time. Because such forward-looking statements involve risks and uncertainties, the Company's actual results may differ materially from the predictions in these forward-looking statements. All forward-looking statements are made as of today, and the Company assumes no obligation to update such statements.
About Energy Recovery
Energy Recovery (NASDAQ:ERII) creates technologies that solve complex challenges for industrial fluid-flow markets worldwide. Building on our pressure exchanger technology platform, we design and manufacture solutions that make industrial processes more efficient and sustainable. What began as a game-changing invention for desalination has grown into a global business accelerating the environmental sustainability of customers' operations in multiple industries. Headquartered in the San Francisco Bay Area, Energy Recovery has manufacturing, research, and development facilities across California and Texas with sales and on-site technical support available globally. For more information, please visit www.energyrecovery.com.
SOURCE: Energy Recovery
06/14/2022 EQS Newswire / EQS Group AG