Energy Recovery Wins Contracts Totaling over $21.9 Million for SWRO Plants in Kingdom of Saudi Arabia
*SAN LEANDRO, CA / ACCESSWIRE / October 26, 2021 / *Energy Recovery (NASDAQ:ERII) today announced contract awards totaling more than $21.9 million for its PX® Pressure Exchanger® (PX) energy recovery devices and related equipment and services for seawater reverse osmosis desalination (SWRO) plants in the Kingdom of Saudi Arabia. The orders are expected to ship through Q2 of 2022, and the plants will be able to produce a combined total over one million cubic meters of water per day (m^3/day).
Energy Recovery's PX reduces energy use by up to 60% in SWRO facilities and provides the lowest lifecycle cost of any energy recovery device available on the market - significant savings that make SWRO desalination an attractive option to governments seeking to build a more robust water supply strategy. The Kingdom of Saudi Arabia, which has a population of about 33.4 million, is the world's third largest per capita consumer of water after the United States and Canada. Safe and reliable water is essential for the region, and the SWRO plants leveraging the industry-leading PX will support that essential need.
"Climate change and industrial wastewater pollution both impact an increasingly strained water supply in the world's most arid regions," said Rodney Clemente, Energy Recovery's Senior Vice President of Water. "Our customers trust Energy Recovery to provide best-in-class products and impeccable service for desalination and industrial wastewater treatment plants. The power and performance of our PX has been proved time and again in the Kingdom of Saudi Arabia where we have 24 mega project sized facilities that provide a total of 8 million m3/day of essential clean water."
The unique design of the PX provides unparalleled reliability and performance for desalination facilities. The ceramic core at the heart of each PX is composed of four simple components and only one rotating part. The powerful and efficient system requires no scheduled maintenance over the lifetime of a plant and helps ensure uninterrupted operations as well as significant energy savings. Energy Recovery estimates that the PXs supplied to the plants will prevent more than 490,810 metric tons of carbon dioxide emissions per year, equivalent to removing more than 106,741 passenger vehicles from the road annually.
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; our belief that our technology provides the lowest lifecycle cost of any energy recovery device available on the market; our belief that the PX provides unparalleled performance and reliability for desalination plants; and estimates of the reduction in these facilities annual carbon dioxide emissions. 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.
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*SOURCE:* Energy Recovery
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