Energy Recovery Awarded Desalination Contracts in Algeria Totaling $28 Million
18 Octubre 2023 - 6:00AM
Business Wire
Energy Recovery, Inc. (NASDAQ: ERII) today announced several
contracts to supply the PX® Pressure Exchanger® (“PX”) to
desalination projects in Algeria totaling over $28 million.
Desalination plays a large role in Algeria’s strategy to combat
water scarcity. Desalination provides 17% of Algeria’s water, and
the country has prioritized increasing desalination’s share to 50%
of the water supply by 2030, in response to climate change and a
severe drought in 2021. Algeria’s commitment to desalination is
evident in its water strategy, which includes the creation of a
dedicated desalination agency.
This slate of projects will help bring the country closer to its
goal, as all of these contracted projects will supply PX devices to
municipal desalination projects, providing clean drinking water to
local residents. All orders are scheduled to deliver in 2023.
“Algeria is a clear example of why desalination will continue to
be a critical part of a diversified water supply strategy in the
face of water scarcity around the world,” said Rodney Clemente,
Energy Recovery Senior Vice President of Water. “While Algeria has
also invested in reuse, conservation, and the construction of dams
to increase water capacity, seawater desalination remains the only
drought-proof source. With these new awards, we will have nearly
3.5 million cubic meters per day of installed capacity within the
country. Customers around the world continue to rely on the PX to
be able to meet their water demand while optimizing their
operational costs.”
The PX can reduce energy consumption in desalination by as much
as 60% and offers the lowest lifecycle cost of any energy recovery
device on the market. Energy Recovery estimates that these PX units
will prevent more than 560,000 metric tons of carbon emissions from
entering the atmosphere each year, the equivalent of removing
approximately 120,000 passenger cars from the road.
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 optimize operations 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 https://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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