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) appointed Lisa Pollina to its Board of Directors, enhancing its leadership with her extensive expertise in banking and capital markets. Pollina's background includes advisory roles for major financial institutions and experience with the U.S. Federal Reserve. She aims to support the company's growth by expanding its technology into new sectors like industrial wastewater treatment and refrigeration. Pollina holds a Bachelor's degree from Western Michigan University and an MBA from Yale.
Energy Recovery announced its membership in the North American Sustainable Refrigeration Council (NASRC) at the silver level on September 15, 2021. This collaboration aims to enhance natural refrigerant adoption, particularly in supermarkets facing regulatory pressures to phase out hydrofluorocarbon (HFC) refrigerants, which are potent greenhouse gases. Energy Recovery’s PX G1300 device is designed to improve the efficiency of CO2 refrigeration systems across ambient temperatures, thereby reducing energy consumption and supporting sustainability efforts.
Energy Recovery, Inc. (NASDAQ:ERII) will release its financial results for Q3 2021 on November 4, 2021, after market close. A conference call to discuss the results will take place at 2:00 PM PT. The call can be accessed via toll-free numbers or through their website. The replay will be available three hours post-call until December 4, 2021. Energy Recovery focuses on creating sustainable solutions for industrial fluid-flow markets, enhancing operational efficiency.
Energy Recovery, Inc. (Nasdaq: ERII) reported a 7% increase in product revenue for Q2 2021, reaching $20.6 million, compared to $19.3 million in Q2 2020. The overall revenue dropped by 53% to $20.6 million due to the cessation of the VorTeq License Agreement. Net income fell 94% to $1.1 million or $0.02 per share. Despite challenges, the company is optimistic about its new Ultra PX technology projects in various sectors, expecting long-term value creation. Operating expenses were reduced, but cash balances remain high at $120.7 million.
Energy Recovery (NASDAQ:ERII) has secured over $6 million in contracts for its PX® Pressure Exchanger® devices to support seawater reverse osmosis (SWRO) desalination facilities across Asia. These contracts, set for fulfillment by Q3 2021, come amid increasing water demand due to population growth and climate challenges. The PX technology reduces energy consumption by up to 60% and is projected to prevent over 126,000 metric tons of CO2 emissions annually while producing over 118 million cubic meters of fresh water yearly.
Energy Recovery, Inc. (NASDAQ:ERII) will release its financial results for Q2 2021 on August 5, 2021, after market close. A conference call will follow at 2:00 PM PDT to discuss these results, hosted by CEO Robert Mao and CFO Joshua Ballard. Investors can access the call via toll-free numbers or through the company's investor relations website. The replay will be available for a month following the event. Energy Recovery specializes in technologies that enhance efficiency and sustainability in industrial processes.
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