Energy Recovery Awarded $2.7 Million for Mining Desalination Projects in Chile
SAN LEANDRO, Calif., Dec. 6, 2018 /PRNewswire/ -- Energy Recovery, Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced total awards of $2.7 million to supply its PX® Pressure Exchanger® technology for desalination projects in Chile. These desalination projects will be used specifically in the mining process and are expected to ship in the fourth quarter of 2018.
Energy Recovery will supply its PX-Q300 Pressure Exchangers for multiple facilities, which will produce up to 148,000 cubic meters of water per day. Energy Recovery estimates the PX devices will reduce the facilities' power consumption for all projects by 12.7 MW, saving over 110 GWh of energy per year, and helping the facilities avoid over 65,740 tons of CO2 emissions per year.
Energy Recovery's President and CEO Chris Gannon stated, "2018 is shaping up to be a potential record year thanks to the continued success of our PX Pressure Exchanger and the value it generates for our customers. These recent awards in Chile confirm the efficacy and strength of the PX technology. We are excited about the growth opportunities for our Water business and the continued strength and activity level for desalination throughout 2018 and into 2019. Moving forward we will continue to aggressively pursue tactical initiatives across the broader water industry."
Rodney Clemente, Energy Recovery's Vice President, Water, added, "Energy Recovery has had its eye fixed on Chile as a strategic market and accordingly has positioned our company to assist these facilities in maximizing the overall profitability of their operations through an increased understanding of the critical mining-water nexus. Energy Recovery's PX Pressure Exchanger technology has the lowest-life-cycle cost of any energy recovery device on the market today, and this industry-leading value proposition resonates well with both our customers and end-users in Chile. More specifically, our uptime advantage in mining applications is unmatched – vitally important when every day of downtime translates to millions of lost dollars for our customers. We are excited to add another critical project to our successful global reference list."
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, Shanghai, and Dubai. For more information about the Company, please visit www.energyrecovery.com.
Forward-Looking Statements
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, the potential of 2018 being a record year, grown opportunities throughout 2018 and 2019, and the Company's pursuit of tactical initiatives across the broader water industry. 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.
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