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 (ERII) delivers innovative pressure energy conversion solutions for industrial efficiency across water desalination, oil & gas, and chemical processing sectors. This news hub provides investors and industry professionals with centralized access to the company's latest strategic developments.
Track official press releases covering quarterly earnings, product launches, and operational milestones. Our curated collection features updates on ERII's energy recovery devices, emerging technology applications, and global market expansion efforts.
Key content includes analysis of reverse osmosis innovations, partnerships in sustainable industrial solutions, and regulatory developments impacting energy recovery technologies. Bookmark this page for real-time updates on ERII's engineering advancements and industry leadership.
Energy Recovery (Nasdaq: ERII) has released new performance data for its PX G1300 pressure exchanger, showing successful integration into CO2 refrigeration systems. The technology improves energy efficiency with peaks up to 30% and projected annual energy savings of 15%. It also increases cooling capacity by up to 15% at 95°F, without requiring water usage.
The PX G1300 supports the transition from harmful hydrofluorocarbon (HFC) systems to CO2 refrigeration, which is non-toxic, non-flammable, and has significantly lower global warming potential. The solution addresses efficiency decline in hot weather and provides operational flexibility during heat waves, offering a water-free alternative to current solutions.
Energy Recovery, Inc. (NASDAQ: ERII) has announced an upcoming investor webinar scheduled for November 18th, 2024, from 10 a.m. to approximately noon Eastern Time. The event will feature presentations by key company executives, including:
- CEO David Moon
- CFO Mike Mancini
- Sr. VP of Water, Rodney Clemente
- VP of CO2, Ricardo Freitas
The presentations will focus on the company's strategic vision and will be followed by a live Q&A session for analysts and investors. Interested parties can access the webinar link through the IR Calendar section of Energy Recovery's Investor Relations website. A replay of the event will be made available on the same website after its conclusion.
Energy Recovery (NASDAQ: ERII) has secured contracts worth over $12 million for its PX® Pressure Exchanger® energy recovery devices for three seawater reverse osmosis (SWRO) desalination projects in the United Arab Emirates. The projects have a total capacity of nearly 1 million cubic meters per day, with orders expected to ship by Q4 2024. One contract includes PX installations on a floating desalination barge in the Arabian Gulf.
The contracts will utilize both PX Q400 and PX Q300 models, offering operational sound levels of just 79 decibels. Energy Recovery's PX technology can reduce energy use by up to 60% in SWRO facilities, providing the lowest lifecycle cost of any energy recovery device available. These projects are projected to save over 416 gigawatt hours of energy annually, avoiding 201,265 tons of CO2 emissions per year.
Energy Recovery, Inc. (NASDAQ: ERII) has announced key dates for its upcoming financial disclosures and investor communications. The company will release its third quarter 2024 financial results on October 30, 2024, after market close. This will be followed by a live conference call at 2 p.m. PT / 5 p.m. ET on the same day to discuss the results.
Additionally, Energy Recovery will host an investor webinar on November 18, 2024, at 7 a.m. PT / 10 a.m. ET to present its strategic vision with senior management. The company will provide a registration link and further details for this webinar prior to the third quarter results announcement.
For those unable to attend the live conference call, a replay will be available until November 30, 2024, with access codes provided for both US/Canada toll-free and international toll numbers.
Energy Recovery (Nasdaq: ERII) has secured $27.5 million in contracts to supply its PX® Pressure Exchanger® for seawater reverse osmosis (SWRO) desalination projects in Morocco. These orders are expected to be fulfilled in 2024. The projects will produce over one million cubic meters of potable water daily, serving more than 600,000 Moroccans for municipal and agricultural use.
Morocco aims to supply 50% of its drinking water from desalination by 2030, addressing a severe drought that has depleted reservoirs to 25% capacity. The PX technology can reduce energy consumption in desalination by up to 60% and is estimated to prevent over 475,000 tons of carbon emissions annually once these projects are operational.
Energy Recovery, Inc. (Nasdaq:ERII) reported its Q2 2024 financial results, exceeding revenue guidance with $27.2 million. Despite a 31% year-over-year revenue increase, the company faced challenges with a decreased gross margin of 64.6% and increased operating expenses of $19.6 million. The company reported a net loss of $0.6 million but maintained a strong cash position of $138 million. Energy Recovery reaffirmed its full-year revenue guidance of $140-$150 million, with expectations of higher revenue in Q3 and Q4. The company also highlighted progress in its CO2 business, commissioning nine second-generation PX G1300 deployments.
Energy Recovery, Inc. (Nasdaq: ERII) has appointed Michael (Mike) Mancini as its new Chief Financial Officer (CFO), effective August 5, 2024. Mancini brings extensive experience in high-growth engineering and technology businesses, capital allocation, and operational expertise. He joins from Astranis Space Technologies Corp., where he served as CFO for four years. Previously, he was CFO and Executive Vice President of Strategy at Aerion Supersonic. Mancini's background includes roles in private equity and hedge fund investing. Energy Recovery's CEO, David Moon, highlighted Mancini's analytical skills and collaborative approach as key assets for advancing the company's growth strategy and expansion into new markets.
Energy Recovery, Inc. (NASDAQ:ERII) has announced its plans to release financial results for Q2 2024 and host a conference call on July 31, 2024, after market close. The company will discuss the quarter's results and related matters during the call. Investors can access the live conference call at 2 p.m. PT / 5 p.m. ET via toll-free numbers for US/Canada and international participants. A replay of the call will be available until August 30, 2024. Additionally, investors can access the live call or replay through the company's website 'Events Calendar'. This announcement provides shareholders and analysts with an opportunity to gain insights into Energy Recovery's financial performance and future outlook.
Energy Recovery, listed on Nasdaq as ERII, has announced strategic hires to support its growth. Ricardo Freitas has been appointed Vice President and General Manager for the CO2 refrigeration business, and Matt Hostetler has been named Chief Human Resources Officer (CHRO). Freitas, with three decades of experience in the heating and cooling industry, will lead the expansion into commercial and industrial refrigeration markets starting June 3. Hostetler, joining on June 19, will focus on talent strategies to drive business performance. These appointments aim to optimize products, processes, and talent to fuel future growth.
Energy Recovery, Inc. (NASDAQ: ERII) has secured $15 million in contracts to supply its PX® Pressure Exchanger® energy recovery devices to seawater reverse osmosis (SWRO) desalination plants in India. These projects are set to provide over 670,000 cubic meters of clean drinking water daily to Indian communities in 2024. This initiative aims to address India's severe water scarcity issues due to climate change, groundwater depletion, and rising water demands. The implementation of Energy Recovery's technology is expected to significantly enhance operational efficiency and reduce carbon emissions, contributing to sustainable water supply solutions in India.
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