Energy Recovery, Inc. (Nasdaq: ERII) today announced $15 million in contracts to supply its PX® Pressure Exchanger® energy recovery devices to seawater reverse osmosis (SWRO) desalination plants in India. All orders are expected to ship in 2024.
All together, these plants will provide over 670,000 cubic meters of clean drinking water to communities in India each day. As one of the most water stressed countries in the world, India continues to invest in desalination projects in order to supplement its freshwater supply. The country is home to 18% of the world’s population but has only 4% of the world’s water resources.
“India continues to face threats to its water supply on numerous levels including climate change, increasing demand for municipal, industrial, and agricultural use, as well as seawater intrusion into its diminishing groundwater supply,” said Rodney Clemente, Energy Recovery Senior Vice President of Water. “We have been helping India incorporate desalination technologies since our first mega-project installation in 2007. Desalination allows India to utilize its vast coastline to help offset these threats, and incorporating the PX into desalination facilities brings the operating cost to produce fresh water down significantly by reducing energy consumption while increasing operational flexibility and availability.”
Energy Recovery’s PX recaptures otherwise wasted pressure energy within the SWRO desalination process to improve system performance and energy efficiency and reduce operational costs and carbon emissions. The PX can reduce the energy consumption of an SWRO desalination system by as much as 60%. When installed, Energy Recovery estimates the PX will prevent over 300,000 metric tons of carbon emissions from entering the atmosphere from these projects each year.
About Energy Recovery
Energy Recovery (Nasdaq: ERII) is a trusted global leader in energy efficiency technology. Building on our pressure exchanger technology platform, we design and manufacture reliable, high-performance solutions that generate cost savings and increase energy efficiency across several industries. With a strong foundation in the desalination industry, Energy Recovery has delivered transformative solutions that increase operational efficiency and deliver positive environmental impact to our customers worldwide for more than 30 years. Headquartered in the San Francisco Bay Area, Energy Recovery has manufacturing and 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.
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. 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, including the expected delivery dates of these orders. 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, 2022 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.
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