Energy Recovery bags $10.1mn water projects deal in Saudi Arabia
Energy Recovery will supply its PX-Q300 Pressure Exchangers, VPXPTM circulation pumps and AquaBold high pressure pumps for multiple desalination facilities, which will produce up to 470,000 cubic meters of water per day
Energy Recovery, Inc. (NASDAQ: ERII), the leader in pressure energy technology for industrial fluid flows, has announced total awards of $10.1mn to supply its PX® Pressure Exchanger®, and pump technologies for water projects in Saudi Arabia. The orders are expected to ship in the second and third quarters of 2018.
Energy Recovery will supply its PX-Q300 Pressure Exchangers, VPXPTM circulation pumps and AquaBold high pressure pumps for multiple desalination facilities, which will produce up to 470,000 cubic meters of water per day.
Energy Recovery estimates the PX devices will reduce the facilities' power consumption for all projects by 50 MW, saving over 431 GWh of energy per year, and helping the facilities avoid over 258,000 tons of CO2 emissions per year.
"Megaprojects and the Middle East remain key indicators as to the health of the overall water market, and we see continued strength throughout 2018 and into 2019,” said Energy Recovery's President and CEO Chris Gannon.
“We remain focused on maximizing customer value with end-to-end recovery solutions that combine our PX Pressure Exchanger and pump technologies in a single comprehensive offering, as seen in these recent awards.”
Rodney Clemente, Energy Recovery's Vice President, Water, added, "Historically, the Saudi Arabian market was difficult for membrane desalination technologies to penetrate as low-cost, local power enabled technologies such as thermal desalination to initially gain majority market share.
“Due to advancements in seawater reverse osmosis technologies and increased awareness in energy preservation, there has been a shift from thermal desalination to seawater reverse osmosis solutions.”
Energy Recovery first deployed its PX Pressure Exchanger Technology into Saudi Arabia in 2013, and over the past 5 years it has received 8 mega project references.
The company is strategically positioning itself to unlock emerging market opportunities and remains focused on maintaining market position in growth economies.