Energy Recovery Signs Agreement with Vallarta Supermarkets for First Commercial PX G Deployment

Rhea-AI Summary

Energy Recovery, Inc (NASDAQ:ERII) has partnered with Vallarta Supermarkets to install its PX G1300 energy recovery device at a store in Indio, California. This agreement aims to enhance energy efficiency in Vallarta's CO2 refrigeration systems, reducing operating costs and aligning with sustainability goals. Vallarta has already cut electricity consumption by 15% across its locations and received accolades for its clean energy initiatives. The PX G is expected to address energy-intensive CO2 systems, promoting a transition to more eco-friendly refrigerants while saving money.

Positive

• Partnership with Vallarta Supermarkets for PX G1300 installation.
• Potential reduction in operational costs and energy consumption.
• Vallarta's history of energy efficiency achievements and sustainability recognition.

Negative

• Dependence on energy savings for revenue under initial deployment agreement.

SAN LEANDRO, CA and SAN FERNANDO VALLEY, CA / ACCESSWIRE / November 2, 2021 / Energy Recovery, Inc. (NASDAQ:ERII) and Vallarta Supermarkets, a California-based company with more than 50 locations, today announced an agreement to install Energy Recovery's PX G1300 (PX G) energy recovery device in Vallarta Supermarkets' store located in the City of Indio in Southern California.

"As we've committed to doing all we can to reduce our impact on the environment, we have been hunting for new technology and solutions that will enable us to operate our current CO2 refrigeration unit more efficiently and use less energy," said Miguel Gonzalez, CEO for Vallarta. "We are thrilled to find a solution with Energy Recovery, and the efficiencies made possible by the PX G will ultimately help us meet our sustainability goals."

Over the last several years, Vallarta Supermarkets has implemented an energy efficiency program that has led to a 15% reduction of electricity consumption across the majority of their stores. In September 2019, Vallarta Supermarkets was awarded the 2019 Clean Energy Champion by Southern California Edison in recognition of the company's sustainability efforts.

Vallarta Supermarkets will install the PX G in the Indio store's carbon dioxide (CO2) refrigeration system. The PX G can reduce the energy consumption and operating costs of CO2 refrigeration in a broad range of operating conditions. While CO2 systems are more environmentally friendly than incumbent refrigerants such as climate damaging hydrocarbons (HFCs), CO2 systems are more energy intensive to operate, especially in warmer climates such as Indio where temperatures regularly reach above 100 degrees Fahrenheit/38 degrees Celsius. The PX G is designed to solve this challenge, making it financially attractive for retailers to make the switch to CO2 systems.

"Left unchecked, HFCs are projected to increase global temperatures by a half-degree Celsius by 2100. With the PX G, our goal is to pave the way for the next-generation CO2 refrigeration system that allows retailers to save on energy costs while complying with regulations phasing out HFCs," said Robert Mao, Chairman of the Board, President and Chief Executive Officer of Energy Recovery. "We are proud to work with a partner who shares our commitment to sustainability. We look forward to demonstrating the PX G's performance in a real world commercial environment. Our confidence in our technology's ability to reduce energy consumption is high and we are putting our money where our mouth is. Under this initial deployment, we will only receive payments based off of the amount of energy we save."

About Vallarta Supermarkets

Since 1985, Vallarta Supermarkets has grown to a total of 53 stores throughout different counties in California (Los Angeles, Ventura, San Bernardino, Kern, San Diego, Santa Barbara, Tulare, Orange and Fresno). The Gonzalez family has adhered to their strong work ethic and has made it part of their company culture ensuring that all their team members, more than 8,000, strive for excellence.

About Energy Recovery

Energy Recovery (NASDAQ:ERII) creates technologies that solve complex challenges for industrial fluid-flow markets worldwide. Building on our pressure exchanger technology platform, we design and manufacture solutions that make 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, 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.

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SOURCE: Energy Recovery

View source version on accesswire.com:
https://www.accesswire.com/670595/Energy-Recovery-Signs-Agreement-with-Vallarta-Supermarkets-for-First-Commercial-PX-G-Deployment

FAQ

What is the agreement between Energy Recovery and Vallarta Supermarkets?

Energy Recovery will install its PX G1300 energy recovery device in Vallarta Supermarkets' Indio store to enhance energy efficiency.

How does the PX G1300 benefit Vallarta Supermarkets?

The PX G1300 helps reduce energy consumption and operational costs, aiding Vallarta's sustainability efforts.

What has Vallarta Supermarkets achieved in energy efficiency?

Vallarta has reduced electricity consumption by 15% across many locations and received clean energy accolades.

What are the environmental impacts of the PX G1300?

The PX G1300 promotes the use of environmentally friendly CO2 refrigeration systems, reducing reliance on harmful HFCs.

What is the stock symbol for Energy Recovery?

The stock symbol for Energy Recovery is ERII.