Benzinga | Jan 19, 2022 03:38PM EST

Energy Recovery Secures $25M In Contracts With SWRO Plants In Saudi Arabia

* Energy Recovery, Inc. (NASDAQ:ERII) has received contract awards totaling ~$25 million for its PX Pressure Exchanger energy recovery devices for desalination plants in the Kingdom of Saudi Arabia.

* The contract includes several of the company's PX PowerTrain solutions that simplify the integration of PX devices in a facility.

* The capacity for the combined plants will be 1 million cubic meters per day, and the orders are expected to be fulfilled by the close of Q1 2022.

* 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.

* Price Action: ERII shares are trading lower by 1.27% at $19.03 on the last check Wednesday.