Energy Recovery Secures SWRO Contracts Worth $20M In Gulf Region

Energy Recovery, Inc. ERII has received multiple contract awards totaling more than $20 million in the Gulf region for its PX Pressure Exchanger energy recovery devices.
The orders are expected to be completed by 4Q23, and the desalination plants will be able to provide over one million cubic meters of water each day in this water-scarce region of the world.
Once completed, these projects will produce enough drinking water to fill over 400 Olympic swimming pools per day.
ERII estimates that the PXs supplied to these plants will prevent more than 424,000 metric tons of carbon dioxide emissions per year, equivalent to emissions from over 92,000 passenger cars.
Energy Recovery's PX can reduce energy use in Sea Water Reverse Osmosis facilities by up to 60%.
Price Action: ERII shares are trading higher by 2.31% at $21.03 on the last check Thursday.