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 an energy efficiency technology company that regularly publishes detailed financial and corporate updates, making its news flow important for investors and observers of industrial and infrastructure markets. The company designs and manufactures energy-saving technology built on its proprietary pressure exchanger platform, with a long-standing focus on desalination and broader applications across multiple industries.
News about Energy Recovery frequently centers on quarterly and annual financial results. The company issues earnings press releases that include revenue, margin, and cash flow information, along with segment and channel data for its Water and Emerging Technologies segments and for megaproject, original equipment manufacturer, and aftermarket revenue. These releases are often accompanied by management commentary and letters to shareholders discussing business performance and outlook.
Another recurring theme in ERII news is capital allocation. The company has announced Board-authorized share repurchase programs, describing the size of each authorization, the intended time frame, and the flexibility management has in executing repurchases using cash on hand. Such announcements provide insight into how Energy Recovery balances growth investments with returning capital to shareholders.
Corporate news also includes leadership updates and strategic initiatives. For example, Energy Recovery has reported appointments to key roles such as Chief Technology Officer and Vice President, Wastewater, linking these changes to its strategy and focus on technical and operational excellence. Together, these news items offer a view into how the company manages its technology platform, cost structure, and long-term growth plans. Investors following ERII can use this page to review earnings releases, repurchase announcements, and leadership updates over time.
Energy Recovery (NASDAQ:ERII) announced the appointment of Joan Chow to its Board of Directors, effective immediately. Chow brings extensive marketing expertise and leadership experience from her roles at major companies like Conagra Brands and others. Her background will enhance the board's perspectives as Energy Recovery seeks to expand its PX technology applications. Chow expressed enthusiasm about the company's potential for sustainability and innovation in diverse industries.
Energy Recovery (NASDAQ:ERII) announced a contract to retrofit the desalination facility servicing Palm Jumeirah, Dubai, with its PX Pressure Exchanger devices and PX PowerTrain solutions. This upgrade, set for completion in Q4 2021, aims to enhance operational efficiency for the facility, crucial for the area's water supply and tourism. A significant portion of the UAE's potable water (42%) comes from desalination, underscoring the importance of this project. Energy Recovery emphasizes the reliability and eco-friendliness of its technology in critical water-scarce regions.
Energy Recovery, Inc. (NASDAQ:ERII) announced its Q3 2021 financial results, reporting a 24% decline in product revenue year-over-year at $20.8 million. Despite this, the company projects a strong Q4 with increases in original equipment and aftermarket sales. Net income fell 80% to $1.1 million, with diluted EPS of $0.02. The company continues to invest in raw materials to mitigate supply chain issues while enhancing its industrial wastewater and refrigeration sectors, notably through agreements with grocery chains.
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.
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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.
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