ENERGY RECOVERY, INC.: Osmotic Power Play: Energy Recovery Teams with GS
Engineering & Construction Corp to Develop Highly Available Renewable Energy
South Korean Industrial Conglomerate Adopts Desalination Leader's Proven PX
Pressure Exchanger Technology to Advance New Category of Clean Energy
SAN LEANDRO, Calif., October 15, 2013 - Energy Recovery Inc. (NASDAQ: ERII),
the leader in capturing reusable energy from industrial fluid flows and
pressures cycles, today announced that it has signed a mutual cooperation
agreement with Seoul-based global company GS Engineering & Construction
Corporation (GS E&C Corp) which is a part of Korean conglomerate GS Group, to
significantly advance osmotic power generation using Energy Recovery's
state-of-the-art PX Pressure Exchanger® technology. A pilot program is
already underway and it is anticipated that a unit will be operational in 2014
at GS E&C Corp R&D center in Korea.
The revolutionary process of Pressure Retarded Osmosis (PRO) is created by
mixing of seawater and freshwater and the resulting osmotic power serves as
both a renewable and consistent source of electricity. While still the in the
early stages, the best estimates of global production potential of osmotic
power exceed 1,600 terawatt hours, or the equivalent of half of Europe's
entire energy demand.
Initially developed for seawater reverse osmosis (SWRO) desalination, Energy
Recovery's PX® devices have shown tremendous potential and interest across
multiple industries due to their adaptability, reliability and efficiency.
How Energy Recovery's PX Pressure Exchangers® Work
Energy Recovery's PX devices are currently deployed at SWRO desalination
plants all over the world. By recycling the energy typically wasted as part of
the reject stream, the PX devices-which operate at 98 percent
efficiency-reduce energy use by up to 60 percent, helping to make desalination
an affordable solution to global water scarcity. Energy Recovery's devices
function on a similar principle in osmotic power processes. You can watch a
video of that process here: How the PX Pressure Exchanger works.
How Osmotic Power Works
For many years the idea of PRO or osmotic power was 'pie in the sky'
scientific theory and not seen as a viable energy solution.^ Today, the
fields of chemical engineering and science are looking at this renewable
energy source as a major solution to the world's water and energy scarcity
problems.^ Osmotic power process can convert the pressure differential
between two water streams into hydraulic pressure that can be used to drive a
turbine that produces electrical energy. The PX devices work in unison with
the turbines to cost-effectively enable stable, reliable, environmentally
friendly energy production anywhere freshwater and saltwater are available.
For more information on how Osmotic Power works, see here.
The advantages of osmotic power are numerous:
oGenerates clean power with no harmful emissions
oSeawater is abundant and readily available
oSolution is scalable and applicable worldwide
oMore reliable than other power sources (i.e. Wind and solar) because the
power generated is base loaded
GS E&C Corp is one of the main Korean multinational firms investing heavily in
R&D in the global water and renewable energy markets. In 2011 GS E&C Corp
acquired Spanish desalination facility maker, Inima, one of the world's top
ten reverse osmosis (RO) desalination specialists, for $US 287M. Through this
acquisition, GS E&C Corp aims to expand its RO desalination business
operations. Soon thereafter, GS E&C Corp was issued a multimillion-dollar
grant from the South Korean government to expand their research and
development program to design a pilot plant for a Pressure Retarded Osmosis
(PRO) application. For GS E&C Corp, entering into a joint R&D effort with
Energy Recovery was a logical extension and next step given its market
leadership in reverse osmosis desalination.
"We're thrilled to partner with Energy Recovery on osmotic power technology
that promises to bring about innovative and sustainable change," said Mr.
Jeong Woo Seo, CTO of GS E&C. "We chose the PX based on the value and proven
reliability and performance that it has provided to us and dozens of other
engineering firms worldwide for over two decades."
"GS Engineering & Construction Corp is a visionary company, on the horizon of
the next big thing. We have been looking forward to developing this
technology with a strategic technology partner to make osmotic power a reality
across the world," said Tom Rooney, CEO of Energy Recovery. "It's ideal to
collaborate with a proven engineering market leader such as GS Engineering &
Construction Corp and thrilling to adapt our core technology for new sources
of renewable energy."
About Energy Recovery
Energy Recovery Inc. (NASDAQ: ERII) technology harvests power from
high-pressure fluid flows and pressure cycles. Through collaboration with
industry, Energy Recovery helps make industrial processes within water, oil &
gas, and other industries more profitable and environmentally sustainable.
With over 15,000 energy recovery devices installed worldwide, Energy Recovery
sets the standard for engineering excellence, cost savings, and technical
services to clients across the globe. Year after year, the company's clean
technologies save clients over $1.4 Billion (USD) in energy
costs.Headquartered in the San Francisco Bay Area, Energy Recovery has
offices in Madrid, Shanghai, and Dubai.www.energyrecovery.com
About GS E&C Corp. Headquartered in Seoul, South Korea, GS Group is the 8th
largest conglomerate in Korea. In 2005, GS E&C, an important part of GS Group,
rebranded itself from LG Engineering and Construction to GS Engineering and
Construction. Since then, it has expanded globally, managing megaprojects in
the Middle East, Southeast Asia, and around the world. The Dow Jones
Sustainability Index (DJSI) evaluates it as the top 10 percent best company
among 2,500 market capitalization companies in the world. Please visit their
website for more information.
Andrea Achilli, Tzahi Y. Cath^, Amy E. Childress^, (2009). Power generation
with pressure retarded osmosis: An experimental and theoretical investigation.
Journal of Membrane Science, Vol. 343, Issues 1-2, pp. 42-52.
Chalida Klaysom,Tazhi Y. Cath,Tom Depuydtand Ivo F. J. Vankelecom (2013).
Forward and pressure retarded osmosis: potential solutions for global
challenges in energy and water supply. Chemical Society Reviews, 42,
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Source: ENERGY RECOVERY, INC. via Thomson Reuters ONE
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