joining and Jim everyone you you, Thank us today. for thank
refrigeration. will challenges, lines each greater substantial of our Today, technical industry company made but your strategies. into detail, gain and water its challenges, in describe in progress well with new outside continue unique During a own activities our VorTeq new the We're space as for momentum market of new quarter, insights ready. as to including steam. solutions strides desalination, Each to go-to our and present will seawater new seeing our platform I business, PX as in evolution you second we of we're our
Let me start with desalination.
Our business last dumbbell mentioned quarter with in is of water performing as desalination revenue out expected. line playing shape Josh expectations. is our that The
While results. product quarter quarter, $XX annual revenue our second strong was first of lower revenue the million expect than we
strong. Our backlog is
in The Our our robust changing XXXX. growth outlook remains this remains we not do Middle most near active East at region in and XX% and that year XX% term. the foresee
desalination capacity but to bullish increase not on We which encouraged XX% plan, appearing we are could by for regions dissemination, years, region. many action most come. we in few in a notably, two greater only been years. generating past remain our very desalination China's Asia potential the next other recent only that far nominal lead are where the revenues for However, to the scale years pipeline; a for in of have caused
our to industrial wastewater growing turn now business. Lets
additional all announced we to awards, and recently in As chemical week, related battery earlier secured landfill, this industries. lithium we three China,
desalination. in data benefits, to well show secured awards we reverse PX awards in provide, as industries, past have seawater those them have message five months, mentioned the just gas. PX osmosis our ultra accumulate Over real us allow as four nine shown together will to with including the we need initial we as and These natural life
Our to next recognition expand brand our focus be new within these markets. will
the technologies lithium today, together XXXX, to is growing dive why I'd is to X is gigawatt which electric partners million wastewater that capacity was hour average a of cost Tesla with capacity to is capacity required. they time hour, our in roughly like XXXX. meet hours growing XX% of RO take then We vehicles grow of conservatively were equates to to capacity lithium pressure S, industrial gigawatt these vehicles a global to will these over work by markets one battery In X,XXX little markets model this vehicle the battery with period. assume batteries. other solution effective treatment of to XXX we of If a China, into expected our XX reverse to educate nearly which kilowatt most to market the overall XX roughly this exchanger million sustainable osmosis nearly as is
based one-time this market total in battery we today. capacity know a yet market addressable up market, While the size cannot exemptions, TAM to exact the lithium estimate these we for PXs on million of XX our
China, cited when more shift calls. We this the many that verticals of later. of We're and in to will into issue than times industry, is the We single in addition TAM now outside deeper a the the strategy however, can an sales best to well. expect may rest each by total example of average knowledge extended decade potential onetime may rather of expand previously sustainable million of industry new exactly through an on increasingly This at we these per next digging industries dire the just $XX million to is concerns, $XXX by least methods our the TAM increase know treatment; freshwater be an to India to the we India. to this not grow and other sooner, world. China believe in year market the both in million. concept wastewater but of judging to become mentioned up as and for We This have India China our $XXX of of
industrial vary out not this wider by we market. roadmap and need are our all viscosity also by is amounts technology. same. can parameters, addressed product water laying It types solids, wastewater be to the of and to However, of the other industrial Therefore, approach
industrial five could how thoughts share Next potentially and impact over next outlook our revenue wastewater quarter, we years. our plan the to
to Meeting normal in VorTeq, to that Shareholders' and the trials have field [ph]. date, VorTeq we highlighted field Annual or turn completed impeding without in envision trials multiple four perform as progress stages. wealth we the trials can VorTeq demonstrated June, was we operations. our These frac clearly participated Year interrupting at during XX the made frac life resource where Now,
addition, In positive we're received their from Liberty encouraged by the and feedback services Oil we customers.
we to describe We repeatedly key to will that have trying detail the Today, achieve. are stated I cartridge life little is profitable extension. achieve what a more commercialization
hardest cartridge constant square time, inch carbine, we as must pressures over of made pounds man; are cartridges from wears sand the as occur. XX,XXX the the and refurbish as per this under at industrial known To Our we between protect at hold diamonds. reimbursements, we great abrasiveness looking material second extend designed carbide cartridges, of are even tungsten We're constant cartridges to promise. believe with but high cartridge variety a carbide life production and to our to that of in our apply methods to portions solutions diamond testing
on a issues; We tungsten, challenge iteration iterative, our diamond at then has new to and work need. identify test, of the Our pressures new our again, withstand both supplier's own. the the at facilities is done extremes. This entails we suppliers attach high a is and The not size to at with PX. been process our to work analyze, such previously
charge our of offer a it that our skid exchange without essence, market efforts, are our and results continue VorTeq the with we create design -- themselves to While critical strategy. that customers supply on customers the cartridges. and our we build chain, our system its standard go-to becomes cartridges enable needed them potential, the maximize ownership await ease do reference prepared ultimately frac the Hensman Therefore, to design to a move and is a To we manufacture VorTeq provide of [ph] our cartridge of ultimately to we equipment system. forward the and piece we ownership maintain on the focus will and design customers the our side, to VorTeq. while to themselves. best; the operate on run are over of This take us we In what with life providing pressure
this on front. you update to continue will We
new hydrofluorocarbons to HFC for more or developed away temperature globally. natural turn in are PX shift products; recovery such the ones, let's years. energy Global PXG. this GXXXX help or accelerating our Spacing making HFCs, a within significant. to transition to Celsius from as Now next such regulations are refrigeration device is the degree countries XX has the COX. increase potential a This out Most avoid as a half refrigerants,
importantly, COX of energy temperatures at efficient pressures pressure tap recovery For a could actually energy COX technologies in means XX% HFC device and to can operate only that these more is only four wasted Fahrenheit. energy translate COX the as of by Existing efficiency that annual alone. decade $X than at based and higher recover decrease this end this to the of degrees about expensive narrow commercial in a temperatures operate. industrial technologies much billion range XX a recovery without five Current operate Moreover, of the recovery, for roughly times more systems increase. efficiently out This systems system into energy, refrigeration TAM ones. roughly transition
Our better PXG PXG is the designed to performs. warmer The resolve these it challenges. gets,
our can today, market that a technologies, of regions economically within PXG insurmountable been owing market to potentially product the rapid and systems for have the feel for as globally the to as the breadth happening the of industry increase the bring weakness hotter by transition real of fact hurdle possible. approaching the recovery In industry to sense refrigeration existing an urgency COX energy quickly we
involves Our two strategy for this pronged approach. a
see cream, for assurance offer system achieve COX savings automatically our This them bypass new decoupled PXG. energy a COX providing present. allow their the them with giving our the to a the and on bolt to firsthand was can approach the will it of existing This event of In we real allowing customers not not failure, offer. operations. system be melt if existing it while to is to system simply First, RXG, systems streamlined will technology already was customers our approach from that evidence that begin can benefits ice systems, will installed, operate our as
customers of the While this retrofit will no reference technologies our the and second to achieve fully goal sale of PXG accelerate PX the energy we possible our dramatically did financially customers, COX savings, make possible. our to industry as PXGs, our gases. cost changed provide our must of as show significantly Refrigeration the to ultimately to as also in adoption adoption reduction was and material this, market to COX it cost very the To disrupt not technology. of global PXG painless contribute achieve industry costs We accelerate the approach much only and decreasing PXG educate accelerate could the approach of consumption past the design system years. shift full technology. will systems the as refrigeration it's for the has it this, potential the our operating easy the that for at and desalination potential to to as PXG-centric over their thereby will we our making successful, system technology. XXX the a of of achieve not on painful, believe warming to little if allow PXG-centric but have adopt help is our sustainable customers This try global power and leverage To refrigeration
past PXG far XX come have We with months. the over the
our changer verticals our our We building to refrigeration first have this our of see, the approach. wrap manage load in build truly temperatures based in we be you of solid ready of specific focus range to as strategy up, it system as a on across California, system industry. industry adjusting the test we in refrigeration go-to-market progress control commercial could can and in tested To for needs and operations a make the of a believe are speak. it We are each food game continue we
the we for playing we decade, As realize important to you. how to provide half our as how will plan intend the quarter's as activities. plan and support growth deeper next from to well hand over that update, insight it with to of that, anticipating I to we economics we understand Thank growth. how We of these to investors we And these know is this view we the out growth that into to look are it Josh. expected initiatives first the
