We describe progress toward a precise measurement of the recoil energy of an atom measured using a modified grating-echo atom interferometer (AI) that involves three standing-wave (sw) pulses. With this technique, an additional sw pulse is used to shift the phase of excited momentum states, which produces a modulation in the contrast of the interference pattern. The signal exhibits narrow fringes that revive periodically at twice the two-photon recoil frequency, $2{\ensuremath{\omega}}_{q}$, as a function of the onset time of the pulse. Experiments are performed using samples of laser-cooled rubidium atoms with temperatures $\ensuremath{\lesssim}$5 $\ensuremath{\mu}$K in a nonmagnetic apparatus. We demonstrate a measurement of ${\ensuremath{\omega}}_{q}$ with a statistical uncertainty of 37 parts per
109 (ppb) on a time scale of $\ensuremath{\sim}$45 ms in 14 h. Further statistical improvements are anticipated by extending this time scale and narrowing the signal fringe width. However, the total systematic uncertainty is estimated to be $\ensuremath{\sim}$6 parts per
106 (ppm). We describe methods of reducing these systematic errors.