Benzinga | Jul 22, 2021 08:03AM EDT

Energy Recovery Announces Project Awards In Asia Totaling Over $6M

Energy Recovery (NASDAQ:ERII) today announced contract awards totaling over $6 million for its PX(r) Pressure Exchanger(r) (PX) energy recovery devices and related equipment and services to multiple seawater reverse osmosis (SWRO) desalination facilities in Asia. These orders are currently shipping to customers and are scheduled to be fulfilled by the end of Q3 2021.

Asia's need for clean water is intensifying, driven by population growth, industrialization, rapid urbanization, and climate change. 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 drought-proof their water infrastructure.

Energy Recovery estimates that the PXs supplied to these facilities will prevent more than 126,000 metric tons of carbon dioxide emissions per year, equivalent to removing more than 27,000 passenger vehicles from the road annually. Once these contracts are completed, Energy Recovery will support the production of over 118 million cubic meters of fresh water per year.

"Water related challenges are particularly acute in Asia, which is home to half the world's population but has less fresh water than any continent except Antarctica. At the same time, the region's population is projected to increase rapidly over the coming years," said Rodney Clemente, Energy Recovery's Senior Vice President of Water. "These project awards reflect a concentrated effort by many Asian countries to drought-proof their water systems. We are seeing this play out with China's five-year plan to increase seawater desalination utilization to ensure sufficient fresh water supply. We are very proud that Energy Recovery's trusted PX solutions can help deliver essential water resources to communities in need, all while significantly reducing wasted energy and emissions that can be extremely harmful to our planet."