- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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