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

Energy Recovery, Inc. 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.

Overview Rating:

Speculative

0100