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 partnered with Vallarta Supermarkets to install its PX G1300 energy recovery device at a store in Indio, California. This agreement aims to enhance energy efficiency in Vallarta's CO2 refrigeration systems, reducing operating costs and aligning with sustainability goals. Vallarta has already cut electricity consumption by 15% across its locations and received accolades for its clean energy initiatives. The PX G is expected to address energy-intensive CO2 systems, promoting a transition to more eco-friendly refrigerants while saving money.
Energy Recovery (NASDAQ:ERII) has secured contracts exceeding $21.9 million for PX Pressure Exchanger energy recovery devices for seawater reverse osmosis desalination plants in Saudi Arabia. These plants will collectively produce over 1 million m3/day of water. The PX technology is noted for reducing energy use by up to 60% and preventing over 490,810 metric tons of CO2 emissions annually. Shipments are anticipated by Q2 2022, enhancing the water supply amidst rising consumption in the region.
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.
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