Welcome to our dedicated page for Energy Recovery news (Ticker: ERII), a resource for investors and traders seeking the latest updates and insights on Energy Recovery stock.
Energy Recovery, Inc. (NASDAQ: ERII) is a forward-thinking technology company that specializes in transforming wasted pressure energy into valuable assets. Headquartered in the Bay Area, with additional offices in Ireland, Shanghai, and Dubai, Energy Recovery leverages award-winning technology to enhance the productivity, profitability, and efficiency of industrial systems. The company's core operations span the oil & gas, chemical processing, and water industries.
Energy Recovery is committed to sustainability and efficiency. Their innovative solutions help save clients more than $1.5 billion annually by preserving pumps that operate in hostile environments and simplifying complex industrial processes. The company is deeply engaged in engineering, designing, manufacturing, and supplying efficient and sustainable solutions, making industrial processes more efficient.
The company operates in three primary segments: Water, Emerging Technologies, and Corporate. It is particularly renowned for its energy recovery devices (ERDs) and pumps, which are essential to the global reverse osmosis desalination market. The Water segment is the primary revenue driver, reflecting the company's dominant position in this critical area.
Recent achievements include strategic partnerships that further their mission of enhancing industrial efficiency. Energy Recovery continues to innovate, developing new technologies that not only improve industrial processes but also contribute to a more sustainable future.
For detailed information about their products, services, and latest updates, visit their official website at www.energyrecovery.com.
Energy Recovery (NASDAQ: ERII) has secured contracts exceeding $8 million to provide PX® Pressure Exchanger® energy recovery devices to desalination facilities in Chile. These projects will produce over 350,000 cubic meters of fresh water daily, supporting the mining sector, which is crucial for copper and lithium production. The PX technology is anticipated to reduce carbon emissions by approximately 140,000 tons annually and cut energy consumption in desalination by up to 60%. Orders are expected to be fulfilled by Q4 2023, reaffirming Chile's leadership in the Latin American desalination market amidst ongoing water scarcity challenges.
Energy Recovery, Inc. (NASDAQ: ERII) will announce its financial results for the first quarter ending March 31, 2023, on May 3, 2023, after market close. The company will hold a live conference call to discuss these results at 2 p.m. PT / 5 p.m. ET the same day. Investors can join the call by dialing the toll-free number or by accessing it online. A replay will be available shortly after the call, lasting until June 2, 2023.
Energy Recovery designs technology solutions aimed at efficiency and sustainability in fluid-flow markets globally, with a strong focus on commercial and industrial processes.
Energy Recovery (NASDAQ:ERII) announced its PX G1300 energy recovery device is central to Epta Group's next-generation CO2 refrigeration system, the XTE, revealed at EuroShop 2023 in Düsseldorf, Germany. The PX G1300 improves energy efficiency and reduces the carbon footprint of CO2 refrigeration systems. It offers significant benefits, including a 25%-30% efficiency boost in the first European supermarket utilizing it. The device is part of a broader transition from traditional refrigeration to eco-friendly alternatives, responding to EU regulations aimed at reducing greenhouse gas emissions.
Energy Recovery, Inc. (NASDAQ:ERII) has appointed Fieuw Koeltechniek as its exclusive distributor for the PX G1300 energy recovery device in the Benelux region. The two-year agreement includes guaranteed sales volumes, marking a significant step in Energy Recovery's European expansion. Fieuw has already installed PX G1300s in a Carrefour supermarket in Belgium, demonstrating its capability in larger refrigeration systems. Rising energy prices in Belgium, with a reported 95% increase, drive demand for energy-efficient solutions. The European Union's commitment to phase down HFC refrigerants by 2030 further supports this transition.
Energy Recovery, Inc. (NASDAQ:ERII) reported strong financial results for Q4 2022, achieving record revenue of $42.3 million, up 26% year-over-year. The full-year revenue grew 21% to $125.6 million, driven by its core desalination and industrial wastewater sectors. Gross margin improved to 69.6%, and net income rose 69% to $24 million, with earnings per share increasing 75% to $0.42. Operating expenditure increased 9%, driven by VorTeq costs and litigation. The company anticipates continued growth, especially in the CO2 refrigeration market, through strategic investments and new products.
Energy Recovery, Inc. (NASDAQ:ERII) announced contracts exceeding $9 million to supply its PX Pressure Exchanger energy recovery devices to desalination facilities across China, India, South Korea, and Indonesia. The orders are expected to be fulfilled by the end of Q3 2023. These contracts highlight the ongoing investment in desalination driven by industrialization and urbanization in these regions. The PX devices are projected to prevent nearly 170,000 tons of carbon emissions annually, equivalent to removing over 36,000 cars from the road. This initiative supports the need for sustainable water solutions amid growing water scarcity.
Energy Recovery, Inc. (NASDAQ:ERII) announced it will release its financial results for the year and quarter ending December 31, 2022, on February 22, 2023, after market close. The company will host a live conference call to discuss these results at 2 p.m. PT / 5 p.m. ET on the same day. Investors can access the call via toll-free numbers in the US/Canada or internationally, with a replay available until March 22, 2023. Energy Recovery specializes in technologies that enhance efficiency and sustainability within commercial and industrial fluid-flow markets globally, with a strong focus on environmental sustainability.
FAQ
What is the current stock price of Energy Recovery (ERII)?
What is the market cap of Energy Recovery (ERII)?
What does Energy Recovery, Inc. specialize in?
Which industries does Energy Recovery serve?
What are Energy Recovery's primary segments?
What is the main revenue driver for Energy Recovery?
How much do Energy Recovery's solutions save clients annually?
Where is Energy Recovery headquartered?
Does Energy Recovery have international offices?
What products does Energy Recovery offer?
How does Energy Recovery contribute to sustainability?
Where can I find more information about Energy Recovery?
