SAN LEANDRO, Calif., Sept. 14, 2017 /PRNewswire/ -- Energy Recovery, Inc. (NASDAQ: ERII), the leader in pressure energy technology for industrial fluid flows, today announced total awards of $1.4 million to supply its turbocharger technology for desalination projects in Saudi Arabia. The orders are expected to ship in the 4th quarter of 2017.
Energy Recovery will supply its LPT & AT Turbocharger devices for the plants, which will produce a total of up to 64,000 cubic meters of water per day. Energy Recovery estimates the turbocharger devices will reduce the plants' power consumption for all projects by 2.3 MW, saving over 20.1 GWh of energy per year, and helping the plants avoid over 12,000 tons of CO2 emissions per year.
Energy Recovery's President and CEO Joel Gay stated, "These orders further solidify our position as a market leader in the Middle East desalination market, more specifically in Saudi Arabia, and confirm that we provide unparalleled quality beyond our flagship PX technology and into our centrifugal and turbocharger product lines. We have recently introduced an enhanced AT Turbocharger design with increased resiliency which should further reduce failures, thereby helping plants minimize costs. We remain laser-focused on providing best-in-class products across the spectrum of our technology to desalination customers seeking optimized plant savings and efficient operations."
About Energy Recovery
Energy Recovery, Inc. (ERII) is an energy solutions provider to industrial fluid flow markets worldwide. Energy Recovery solutions recycle and convert wasted pressure energy into a usable asset and preserve 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 $1.8 billion (USD) annually. Headquartered in the Bay Area, Energy Recovery has offices in Houston, Ireland, Shanghai, and Dubai. For more information about the Company, 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 expectations regarding the timing of shipments of the orders, reductions in power consumption from the technology, and the increased resiliency of our AT Turbocharger designs. 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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SOURCE Energy Recovery, Inc.