Page 1

August 5 , 2021 energy recovery® Energy Recovery Posts Strong Quarterly Product Revenue Growth in Second Quarter SAN LEANDRO , CA / ACCESSWIRE / August 5 , 2021 / Energy Recovery , Inc. ( Nasdaq : ERII ) today announced its financial results for the second quarter ended June 30 , 2021 , achieving seven percent growth in product revenue , compared to the second quarter of 2020 . " Our desalination business continues to thrive , driven in part by returning demand in segments and regions hard - hit by COVID - 19 , " said Robert Mao , Chairman of the Board , President and Chief Executive Officer of Energy Recovery . Mr. Mao continued , " We continue to make material progress in diversification efforts of our pressure exchanger technology . We have been awarded projects in the chemical manufacturing , landfill leachate and lithium - ion battery manufacturing facilities in China for our new Ultra PX TM energy recovery device , a testament to our efforts to educate the industrial wastewater treatment market on the Ultra PX's energy - saving benefits . Furthermore , our confidence in our PX G1300 TM energy recovery device for CO2 refrigeration has grown stronger through successful tests that underscore the significant financial and sustainability benefits we can bring end customers such as supermarkets . We are already seeking our first commercial deployment and believe our technology can make the transition from climate - damaging hydrofluorocarbons to sustainable natural refrigeration alternatives attractive for retailers . We are excited by these new opportunities and believe our strategy of pressure exchanger diversification will continue to drive long - term value creation for Energy Recovery shareholders . " Financial Results