SAN LEANDRO, CA, February 11, 2009
/24-7PressRelease/ -- In November 1997, ERI introduced and marketed its first ceramic-based PX device. Today, there are over 6,000 PX devices installed in more than 300 desalination plants worldwide, and by the company's claims, saving customers an estimated 500 MW of energy, or over $350 million in annual operating costs for the production of over 1.4 billion U.S. gallons of fresh water every day. The Discovery Channel has called the PX "the most significant engineering breakthrough" in a lifetime.
The company is active in the fastest growing markets for desalination, including China, Algeria, Australia and India, which according to Global Water Intelligence or GWI, are expected to grow at least 20% annually from 2005 to 2015. GWI is a monthly publication providing analysis and strategic data on the international water market. Other key markets for ERI include Spain, Saudi Arabia, and the Middle East. International revenues represented about 84% of the company's total revenues in the recent third quarter.
In a 2007 interview with Sramana Mitra, an entrepreneur and a strategy consultant in Silicon Valley since 1994, HP Michelet said, "You don't have to go overseas to look at the critical aspects of desalination. It's enough to just go to California. We demonstrated that we could now, in California, desalinate a cubic meter of water for a total of 1.58 kilowatt hours. Colorado today spends about 1.9 kilowatt hours just to pump the state water around to California. In addition to that, about 1.6 kilowatt hours of additional energy is spent just to slush the Colorado River water around in California. When you look at all the energy being consumed by California today just by pumping water around, you realize that it is actually cheaper to desalinate water from the Pacific Ocean".
Founded in 1992, Energy Recovery went public in July, raising some $76.8 million in the Initial Public Offering or IPO. The company history is akin to a Bond flick, mixed with equal measures of thrill and adventure.
About ERI(R)
Energy Recovery, Inc. (ERI) is a leading manufacturer of energy recovery devices, which by significantly reducing energy consumption is helping make desalination affordable. ERI's PX Pressure Exchanger(R) technology (PX(R)) is a rotary positive displacement pump that recovers energy from the high pressure waste stream of sea water reverse osmosis systems at up to 98% efficiency with no downtime or scheduled maintenance.
The company has research, development and manufacturing facilities in the San Francisco technology corridor as well as direct sales offices and technical support centers in key desalination hubs such as Madrid, UAE, Shanghai and Florida. ERI service representatives are based in Algeria, Australia, China, India, Korea, Mexico, Taiwan and the Caribbean.
As the demand for clean, potable water increases; ERI is poised to face the global challenges ahead. For more information on ERI and PX technology, please visit http://www.energyrecovery.com.
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