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, 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.
Energy Recovery, Inc. (ERII) reported its Q1 2024 financial results, with revenue of $12.1 million in line with guidance. The company saw a decrease in gross margin due to higher manufacturing costs and increased operating expenses. Loss from operations was $10.9 million, with a net loss of $8.3 million and adjusted EBITDA loss of $6.2 million. Cash and investments stood at $129.5 million. CEO David Moon highlighted signed contracts representing 60% of full-year revenue guidance and progress in the CO2 business.
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