- Energy Recovery, Inc. (NASDAQ: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.
