Press Releases
Energy Recovery Awarded $2 Million for Desalination Projects in China
SAN LEANDRO, Calif., May 26, 2016 (GLOBE NEWSWIRE) -- Energy Recovery, Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced several awards for a total $2 million to supply its technology for desalination projects in China. All are expected to ship in 2016. Energy Recovery will supply its devices, including its PXTM Pressure ExchangerTM, for ...... read more
Energy Recovery Awarded $4.2 Million for Desalination Projects in Asia Pacific
SAN LEANDRO, Calif., May 25, 2016 (GLOBE NEWSWIRE) -- Energy Recovery, Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced several new awards for a total of $4.2 million to supply its technology for multiple desalination projects in the Asia Pacific region. All are expected to ship in 2016. Energy Recovery will supply its devices, including ...... read more
Energy Recovery Reports First Quarter 2016 Results
FIRST QUARTER SUMMARY: Record quarter total gross margin of 67.5%(1)Total revenue increased 93% year-over-year to $11.3 millionProduct gross margin increased to 63.4% from 56.8%, an increase of 660 basis points year-over-yearOperating expenses decreased 14% year-over-year to $9.8 millionNet loss of $(2.0) million, or $(0.04) per share compared to net loss of $(8.3) million, or $(0.16) per ...... read more
Energy Recovery Desalination Projects Recognized by Global Water Awards
SAN LEANDRO, Calif., April 21, 2016 (GLOBE NEWSWIRE) -- Energy Recovery, Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today received recognition from the Global Water Awards for its involvement in three separate desalination projects and with two Companies of the Year. The Claude "Bud" Lewis Carlsbad Desalination Plant, in Carlsbad, CA, where Energy ...... read more
Energy Recovery Receives Letter of Award for New Middle East Gas Processing Project For Up to $11 Million
SAN LEANDRO, Calif., April 20, 2016 (GLOBE NEWSWIRE) -- Energy Recovery, Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today received a Letter of Award (the “award”) to provide its IsoBoostTM technology for integration into a major gas processing plant to be constructed in the Middle East. The award value is approximately $7 million worth of equipment ...... read more
Energy Recovery Schedules 2016 First Quarter Financial Results Conference Call
SAN LEANDRO, Calif., April 13, 2016 (GLOBE NEWSWIRE) -- Energy Recovery Inc (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced it will release its financial results for the period ended March 31, 2016 on Thursday, May 5, 2016 after the market close. The Company will also hold a conference call to discuss these financial results on Thursday, May ...... read more
Energy Recovery Reports Fourth Quarter and Full Year 2015 Results
FULL YEAR SUMMARY: Signed 15-year deal with Schlumberger to provide exclusive rights to VorTeq® hydraulic fracturing technology which included a $75 million payment amortized over the term of the agreement (see details below)Total revenue increased 47% compared to a year ago to $44.7 million driven primarily by strengthening demand in the global water desalination industryGross profit margin ...... read more
Energy Recovery Schedules 2015 Fourth Quarter and Year End Financial Results Conference Call
SAN LEANDRO, Calif., Feb. 17, 2016 (GLOBE NEWSWIRE) -- Energy Recovery Inc (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced it will release its financial results for the period ended December 31, 2015 on Thursday, March 3, 2016 after the market close. The Company will also hold a conference call to discuss these financial results on Thursday, ...... read more
Energy Recovery Announces Share Repurchase Program
SAN LEANDRO, Calif., Jan. 13, 2016 (GLOBE NEWSWIRE) -- Energy Recovery Inc. (NASDAQ:ERII), announced today that its Board of Directors approved a share repurchase program that authorizes the company to purchase up to $6 million of the company’s outstanding common stock. Energy Recovery’s President and CEO Joel Gay commented, “The board’s authorization to buy back shares underscores our ...... read more
Energy Recovery Announces Successful Completion of Field Trials for VorTeq Hydraulic Pumping System
SAN LEANDRO, Calif., Jan. 07, 2016 (GLOBE NEWSWIRE) -- Energy Recovery, Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced the successful completion of field trials for its VorTeq® hydraulic pumping technology. In partnership with Liberty Oilfield Services, full scale field testing concluded in December 2015 with the most ambitious test to ...... read more