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EQS-News: Energy Recovery
/ Key word(s): Agreement
Signing Celebration to be Held at EuroShop 2023 Trade Fair SAN LEANDRO, CA and ROESELARE, BELGIUM / ACCESSWIRE / February 22, 2023 / Energy Recovery, Inc.® (NASDAQ:ERII) today announced the appointment of Fieuw Koeltechniek (Fieuw), a leading refrigeration cooling rack and service provider in Belgium, the Netherlands, and Luxembourg (the Benelux region), as Energy Recovery's exclusive distribution agent in the Benelux region. The parties entered into an exclusive distribution agreement, Energy Recovery's first for its PX G1300TM energy recovery device in Europe, which grants Fieuw exclusive rights to sell the PX G1300 within the Benelux region for two years and requires set volume purchase of PX G1300s. "Europe is the world leader in the transition from HFC-based refrigeration to more sustainable solutions like carbon dioxide (CO2) systems," said KC Chen, Energy Recovery's Vice President of CO2. "Energy Recovery is ready to accelerate this transition with our PX G1300, which reduces the energy costs and emissions of CO2-based refrigeration systems. What's more, switching to a PX G1300-enabled CO2 system from alternative CO2 systems typically comes at no additional capital cost to supermarkets, as the PX G1300 offsets the need for other components such as compressors, adiabatic coolers, and valves." A signing celebration between Energy Recovery and Fieuw will be held on Wednesday, March 1 at 14:00 CET in Energy Recovery's booth at EuroShop 2023, the world's number one retail trade fair located in Düsseldorf, Germany. Energy Recovery's booth is in Hall 15, G33. Prior to entering the agreement, Fieuw purchased four PX G1300s in 2022.Two PX G1300 devices were installed in February 2023 in a Carrefour supermarket in Belgium. This installation marks the first system with multiple PX G1300s and demonstrates the PX G1300's ability to serve larger refrigeration systems in both supermarkets and industrial applications. The second set of two PX G1300s is scheduled for commissioning in Q2 2023. "We have been successful because we have provided reliable and sustainable technology to our customers for more than 35 years," said Stefaan Bostyn of Fieuw. "Energy Recovery's PX G1300 is a natural fit for our offerings, as it enables our customers to meet sustainability goals and drive down their energy use and costs, essentially helping both the environment and the wallet." The Benelux region has experienced rapidly rising energy prices in recent years, further driving commercial and industrial refrigeration users to adopt more energy efficient cooling methods. Between October 2021 and October 2022, Belgium's Commission for the Regulation of Electricity and Gas (CREG) reported a 95% increase in energy costs. The European Union has also committed to phasing down HFC refrigerant use by 2030. Based on Energy Recovery's trusted pressure exchanger technology, the PX G1300 has demonstrated significant efficiency gains in its first commercial applications. Through a recent collaboration with a European refrigeration rack manufacturer, a local supermarket chain became the first in Europe to incorporate a PX G energy recovery device into its CO2 refrigeration system. The system achieved efficiency improvements of 25%-30% at temperatures of 35-40°C (95-104°F), compared to an alternative CO2 booster system. About Energy Recovery Energy Recovery, Inc. creates technologies that solve complex challenges for commercial and industrial fluid-flow markets worldwide. Building on an innovative pressure exchanger technology platform, they design and manufacture solutions that make commercial and industrial processes more efficient and sustainable. What began as a game-changing invention for desalination has grown into a global business accelerating the environmental sustainability of customers' operations in multiple industries. Headquartered in the San Francisco Bay Area, Energy Recovery has manufacturing and research and development facilities across California and Texas with sales and on-site technical support available globally. To learn more, visit https://energyrecovery.com/. About Fieuw Koeltechniek Fieuw is a refrigeration company that specializes in providing commercial and industrial customers with sustainable cooling solutions. Our focus is on delivering environmentally-friendly and energy-efficient refrigeration systems that reduce carbon emissions and minimize energy consumption. Our team of experienced technicians use the latest technology to design and install custom refrigeration systems that meet the unique needs of each of our clients. Whether you're looking to upgrade your existing refrigeration system or install a new one, Fieuw Koeltechniek has 35 years of expertise and experience to help you achieve your sustainability goals while also reducing costs. Our slogan "Fieuw energy, more cooling" says everything we do. Together with our sister company HVA Koeling in Genk, we also produce our own cooling plants. Forward Looking Statements Certain matters discussed in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including the Company's belief that a PX G1300-enabled CO2 system typically comes at no additional capital cost to supermarkets. These forward-looking statements are based on information currently available to us and on management's beliefs, assumptions, estimates, or projections and are not guarantees of future events or results. Potential risks and uncertainties and any other factors that may have been discussed herein regarding the risks and uncertainties of the Company's business, and the risks discussed under "Risk Factors" in the Company's Form 10-K filed with the U.S. Securities and Exchange Commission ("SEC") for the year ended December 31, 2022 as well as other reports filed by the Company with the SEC from time to time. Because such forward-looking statements involve risks and uncertainties, the Company's actual results may differ materially from the predictions in these forward-looking statements. All forward-looking statements are made as of today, and the Company assumes no obligation to update such statements. Energy Recovery Contacts Press Inquiries: pr@energyrecovery.com, +1 (510) 219 8462 Fieuw Koeltechniek Contact All inquiries: info@fieuw.be, +32 (0)51 209 073 SOURCE: Energy Recovery
23.02.2023 EST/EDT Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Energy Recovery |
| 1717 Doolittle Drive | |
| San Leandro | |
| United States | |
| Phone: | +1510.483.7370 |
| Fax: | +1510.483.7371 |
| Internet: | www.energyrecovery.com |
| ISIN: | US29270J1007 |
| EQS News ID: | 1566451 |
| End of News | EQS News Service |
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1566451 23.02.2023 EST/EDT
