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Energy Recovery Awarded Over $8 Million in Desalination Contracts in Chile
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Energy Recovery (NASDAQ: ERII) has secured contracts exceeding $8 million to provide PX® Pressure Exchanger® energy recovery devices to desalination facilities in Chile. These projects will produce over 350,000 cubic meters of fresh water daily, supporting the mining sector, which is crucial for copper and lithium production. The PX technology is anticipated to reduce carbon emissions by approximately 140,000 tons annually and cut energy consumption in desalination by up to 60%. Orders are expected to be fulfilled by Q4 2023, reaffirming Chile's leadership in the Latin American desalination market amidst ongoing water scarcity challenges.
Positive
Contracts exceeding $8 million secured, enhancing revenue.
Desalination projects will produce over 350,000 cubic meters of fresh water daily.
Expected reduction of carbon emissions by approximately 140,000 tons annually.
PX technology can lower energy consumption in desalination by up to 60%.
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None.
SAN LEANDRO, Calif.--(BUSINESS WIRE)--
Energy Recovery (NASDAQ: ERII) today announced a collection of contracts totaling over $8 million to supply PX® Pressure Exchanger® energy recovery devices and accessories to desalination facilities in Chile. These contracts are for mining applications and demonstrate the region's continuing investment in desalination.
Chile is the world's No. 1 copper producer and the No. 2 producer of lithium. Industrial mines require fresh water for pumping minerals like lithium to the surface and for copper smelting. Combined, these commissioned desalination projects will provide over 350,000 cubic meters of water each day in this resource-rich, yet water-scarce South American nation. The PX is expected to prevent an estimated 140,000 tons of carbon emissions from entering the atmosphere each year. The orders are estimated to be fulfilled by Q4 2023.
"Chile continues to be a leader in the Latin American desalination market with mining being one of the key drivers for the region. The country is home to valuable natural resources that the world requires to manufacture and power vital products and technologies, yet the country has faced historic droughts in recent times,” said Rodney Clemente, Energy Recovery Senior Vice President of Water. "A desalination plant serves as a critical component for building a sustainable, drought-proof water supply. As the leading energy recovery device for desalination, the PX is trusted around the world to provide significant cost and emissions savings as well as availability, which is critical in operations like mining.”
The PX can reduce energy consumption in seawater reverse osmosis desalination facilities by as much as 60%. The PX provides the lowest life cycle cost of any energy recovery device available on the market, providing significant savings to plant operators and bringing down the cost of clean water.
About Energy Recovery
Energy Recovery (NASDAQ: ERII) creates technologies that solve complex challenges for commercial and industrial fluid-flow markets worldwide. Building on our pressure exchanger technology platform, we design and manufacture solutions that make commercial and industrial processes more efficient and sustainable. What began as a game-changing invention for desalination has grown into a global business accelerating the environmental sustainability of customers’ operations in multiple industries. 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. 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.
