SAN LEANDRO, CA / ACCESSWIRE / September 1, 2022 / Energy Recovery, Inc. (NASDAQ:ERII) today announced a slate of contract awards totaling more than $12.6 million to supply its PX® Pressure Exchanger® energy recovery devices (PX) to seawater reverse osmosis (SWRO) desalination facilities in North Africa, with all orders to be fulfilled by the end of 2022.
Energy Recovery estimates that across the four largest facilities in this group, the PX will prevent more than 130,000 metric tons of carbon emissions each year, the equivalent of removing over 28,000 passenger cars from the road.
When completed, these greenfield desalination facilities will supply hundreds of thousands of cubic meters of clean water each day to communities across North Africa, all of which meet the UN's threshold to be considered water scarce or very water scarce. This investment into new desalination facilities demonstrates that increasing the supply of potable water and access to stable water sources is a major priority in this region.
"North Africa - much like its neighbor, the Middle East - continues to face a dynamic water crisis brought on by climate change, a growing population, and increasing demand from the industrial sector. These countries in North Africa continue to provide a robust and steady market for us as they invest in strengthening and diversifying their water infrastructure, with desalination playing a key role," said Rodney Clemente, Energy Recovery's Senior Vice President of Water.
"We are proud that our desalination customers continue to rely on the PX's product leadership to improve the efficiency of their operations and reduce costs, making clean water more accessible around the world. For nearly 20 years we have been investing and monitoring activity in the region and our investments have paid off in a big way. We now have a cumulative installed capacity in North Africa exceeding four million cubic meters per day, further underscoring our market leadership in the region."
The PX has a peak efficiency of 98% and is capable of reducing energy consumption in SWRO facilities by as much as 60%. With a 25-year design cycle, the PX can provide significant savings to plant operators for years to come.
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 fulfillment; the Company's estimates of the reduction in carbon emissions as a result of the PX; the Company's belief that the countries in North Africa provide a robust and stead market for the Company; and our belief that the PX can provide significant savings to plant operators. 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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