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FINANCIAL NEWS
Energy Recovery inks USD11m gas tech contract in ME
19 Jul 2016
(MENAFN) Energy Recovery, a leader in pressure energy technology for industrial fluid flows, has won a purchase order totaling up to USD11 million.
In detail, the order will be allocated to provide its IsoBoost technology for integration into a major gas processing plant to be constructed in the Middle East.
Moreover, the contract is for approximately USD7 million worth of equipment and services, with an option for an additional USD4 million to be determined at a later date.
Additionally, the optional supply may not be confirmed by the client until the latter portion of 2017. Partial recognition of revenue from this project is expected towards the end of 2016.
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