our I Thank thank quarter, start that you, and everyone The abated as well and and Energy pandemic managed and today’s call happy Jim, pandemic. the business and healthy. has you at how report with Recovery through COVID-XX today. Energy the this remains safe I a listening has hope and last team Energy as are healthy, for To-date, water as the Recovery the and am sincere operate. well to I that joining want to strong. us have changed families must your not we hoped and it industry world both Recovery whole everyone did
optimistic on are our a livelihoods and the the key point. on We on all employees, shareholders’ Recovery focused remain also of is health protecting first, our but future. inflection and Energy safety at employees’ balancing investments. We
everyone, working of like First, during new normal adjusting we this our challenges through pandemic and the are accordingly.
water to with grow our fresh to of continues we long-term Second, industry who the and show our the base business water millions the technology. support and the people on created of and help rely resilience, continue
must, we point value the is by in end our the Third, the either an monetizing deliver spend. or our where shareholders, VorTeq bringing at to a to by near-term, technology
do gas see – oil we those I company. Recovery, to see when about us, future. & addition I in before I water When look company. What PX a must company, not do think challenges is I an a the Finally, clear see Energy took at I nor
the company. In fact, Energy Recovery is PX
been build platform. has the on VorTeq, significant including the technology to PX made Over our spent years, investment time
presented Let’s the by our turn remains and which economic operational Water the strong to business, despite dynamic challenges Coronavirus. and
project show unaffected by largely channel awards, events our recent strength and water our by to-date. been As mega has to continues evidenced
to as growth but That only shows year. climate to we, water seeing growth need times. weakened shift are in create guidance XXXX and secular tough industrialization. for year-to-date, our these globally affirm more not the this desalination demand COVID-XX not It water of owing change, fresh during a continue has is our population this again, grow in We the needs for XX% The forecast. also results our continues for for in backlog XX% pipeline. to uncertainties reason our to that and
strong, global project confident business we that economic by more the downturn. While OEM channel are our the affected mega will been has remain
XXXX of The water the near-term pressing fact growth underscores Our X%. pipeline a relative around to overall all current water uncertainties, up of despite economic fresh to overall market. are is is, seeing The the water access flat supports and backlog and need stability strength a we modest the real world.
the industry and we secular longer-term, intact, today once in that shift the and risks suggest that pipeline remains demand forecasts a exist the expect economic over pass. rebound desalination Our
That technology we Osmosis Reverse see Jubail in Additionally, announcement. to of industry, largest continue occurring thermal project recently the one and thermal a proof history. Al is conversion to replacement II evidenced of our projects company’s the by our the in
As will translates through per the efficiencies to a and of XX Recovery, from Reverse Osmosis, Water approach Sea This to end additional day eventually in Osmosis offered cubic savings water as XXXX approximately transition Reverse reminder, meters million owing commissioned. existing plants thermal their life was Energy either capacity. billion the useful maintain roughly plant or cost of of capacity to till to before produced into XXXX, $X.X market These by just addressable operations. plants significant
fundamentally is I & to to our our than weeks in November. in named position Interim like was I said I Oil business, As at General I CEO turn a was The two would what Shareholders’ when Meeting stronger repeat Gas it ago. VorTeq
We technical have hurdle have every cleared we faced.
we live with have test has proved to we ready frac long what simulated others June Liberty late testing. Our for believed, are well
what’s which software, that crews. to a frac long concerns. end the nor and VorTeq me quality us this These satisfy at with indication competitive, because VorTeq fact. a what new important. Let as VorTeq the that test are safety This technology should test: customer’s important failure proved frac proved one, and job, will and cause We a when to impede us ago worked, not equipment introducing accomplishments to exactly Two, we that operations industry. did another done vastly restate test mature that that the look had proven can integrate to team’s not
to sand compact concentrations it operations. making is higher The has advantage a handle. we We PX produce lead are proud and frac intrusive costly single of The times with test. VorTeq footprint successes to solution now solution our production the will tested reduced during elegant, which less is our we an with smaller X.X. skid greatly be this It can simple more Liberty takes of less skid model
on In their we model this overall to up will rate, addition, to in the or at next? jobs needs. remain. VorTeq or is, freedom AGM, scale must allows investment configuration job VorTeq. what’s We operators pass The their and now for As pressure cease three configure flow hurdles question all we mentioned the shareholders the down hurdle our depending each
successfully we well live must complete X X at or least First, fracs.
do have we As mentioned, with to actively working Liberty so. we are together
think American current in North of challenges I us the pressure pumping. all understand
our to partner, is Liberty. preference with achieve Our this
needed. with approach However, explore well we for we other these live if the We whole also market the our cannot to now search return beta are market, tests. operators wait to frac opportunities to that to expand free accomplish will
to well with from year. that customer Second, our can up the value live we the is to We whether calculated must we prove proposition data achieve frac and savings must $X per million fracs. our per of related, validate fleet
customers validate more data a data have that site a industry vetted this quantify, will calculated, nevertheless beyond live extends valuable OpEx While with frac our areas to direct experts, have but We to our savings extremely note that should value we difficult encompasses the also we and calculations. to customer. assumptions but on the
example, become become obtained efficiencies operational organizational For challenges more logistics and and could more maintenance significant predictable. breakdowns manageable and as be
redundancy oil in of to equipment downtime broken addition, in frac increasing promote as and and fewer associated complete VorTeq on site fleet the production, a costs completion operations. would pumps manufacturing pump lower minimizing also increase, a gas well for and indirectly with and testing resources potential the lower trips frac redundant further help time. truck turn safety replace Also, expended over which of means reduced using the In number required day the energy This fleet lower to job by can can lifespan, increase turn equipment less stages emissions VorTeq, exposure may with longer lifespan can the a the equipment. & costs each reduce can on reducing repair equipment revenue Increasing for personnel. by
the frequency and we any to are a reduce of of and repair the want both product. largest commercial where final the by of not I sand through a the Exchangers do VorTeq. is our year. be third number not This sand meeting or use amount targets critical maximize We the the processed cartridges, Pressure per needed before resurfacing there have do the themselves. Pressure to and hurdles, amount yet. processed can frac clear. profit requires driver single it cost are will fleet be one own we to Exchangers of These the three Increasing each not we that very If replacement. must would cartridges of pass these cartridges relates The for hurdle single
We also do not have much time.
must activities, of I an give less in life you before can not significant than happen year, we of end year. of is all exact to cartridges this tell and each possible must the that the it in this progress While show the to these a timeline
are that amount our only discuss will have we ROI We market market our if that profit of addressable We’ll place, are not to and reasonable ready line market. we commercialize in technically potential finish a frac our but go-to like good would have targets as I a the achieve we strategies at time. also a now in entire yet. product the and is
licensing are stages do make any achieved We potential firm arrangements not remaining analysis, in to early on decisions or and we expect our hurdles. of sufficiently partnership have this until the
larger, our will basic change, around planning a PX as in we new coming model described months. we we we not approaching the previously, go-to are strategy single of market launch, system. as The have the pressure our well leasing established will pumping centered much companies However, be economics
is, the diversify? extension know by mean better our it than of turn be does world. financials, truth What PX our we from in we strength grow the unique margin my in stems and savings, top the The we growth, and underlying Because line how by will and PX so The tangible our our high business discussion to in to it of high form this in is company anyone future. delivering platform. on focused our waste the applications to the have we technological Now, our PX and to a incubation creates a We platform. in customers our margins. technology tangible turn reduced growing of to the efforts focusing financials value value and of on tremendous achieve form potential additional believe technology
has For decades, the over to the roughly pressure Exchanger relatively two and of proven water. effortlessly clean sea Pressure PSI X,XXX ability handle
will into other on have are projects began many address technology to applications within in the square allow the pressures and VorTeq harsh PX new of on these expand of This of potential business Two the be least for of X,XXX we year per variety but the applications work sandbox hydraulic at these to inch We our of or many water can and three PX, fluid with more. under only we explore. industries. a industries, projects able the pound industrial at handle for channels pushed us pressures of an not that enabling our work at envelope are adjacent we now will one XX,XXX There also PSI. new
aims further our to project allow of PX third in turn sandbox. technology itself. platform more the The PX applications to expand will the tackle This aperture us within
a begins we and investment, these value, modest to maintaining We months efforts frame. shareholder ensure quarter that commercial late not return technical be our disciplined time and direct have see call This value create on We that commercial not must our during the have the plan they eye involvement on spending and efforts objective can rigorous be ends to hesitate approach on that come but and introduction first can our shelve we financials launch delivering our keep with Incubation third within our to feasibility expect. taking challenged, or includes we a to meet to reasonable confirm in costs product that will hope You in cost October. several investors projects discuss to focus the stop that require the in and explicitly increasing do over next investments, ROI. set. profile new and must
our twelve on focused also order and are we we This will begin that and shelve commercial We can quickly. as not XX. feasibility do within the believe proving it. we commercial first we results months project, new If achieving delivering achieve within technical means commercial a
will will partnership be products close down and or newly achieved. will move four, So, is or terms possible potential will will our project. or of three, unit the timing. applications end cease each limits two, other incubation existing ERI industries pursue to that the not that be of another we products formed in joint unit the venture an the One of believe project, business form into they expected we pursue We the can VorTeq and not do At to four transformative and serve. investment a some we move outcomes we a the into both or business
keep updated launch as to we the future coming continue will these you quarters. in We products
hand Before want discuss to Josh, item. to one off I last I
XX more to we sustainable years, our customers more than help For sought have efficient, operations. achieve
PX up flagship delivers Our Osmosis. savings to Reverse Exchanger Sea in Water Pressure energy XX%
We part sustainable more and and transforming desalination energy major to historically energy-intensive have industry a from one in an efficient. played
concern, remains solution a pride emission. While providing we in significant that reduces and costs water a scarcity both global take carbon
new finding that are efforts good incubation new work. to Our ways continue
to to can can world. also look our we products Recovery the how help better world, our In addition the at need employees we our and Energy shareholders, build how focus for a on
incubation will report a ESG the your time Given could quarter. to to a forward proof issue improvement With And resilient our third stable it real become which continuous seemed reflects our is our Recovery. ideal it exciting this points water on embarking new first with our time Taking I business. growing our on that, journey, projects step the in sustainable as input now provide once we our commitment VorTeq, towards not report, Josh. with business more focus we over business, to We and economic an and strive look to and growing Energy turmoil, more this interesting ESG hand public. at be during a
