Press Releases
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
Energy Recovery Awarded $2.3 Million for Mega Desalination Plant in China
SAN LEANDRO, Calif., Dec. 22, 2015 (GLOBE NEWSWIRE) -- Energy Recovery Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced an award for $2.3 million to supply its PX® Pressure Exchanger® technology for a mega desalination plant in China. For the project, Energy Recovery will partner with Beijing Originwater Technology Co., Ltd. The order is ...... read more
Energy Recovery Reports Third Quarter 2015 Results
THIRD QUARTER HIGHLIGHTS: Revenue increased 127% to $12.1 million in the current period, from $5.3 million in the third quarter of 2014 based on strengthening demand and sales in the global desalination market Gross margin improved to 59% from 44%, an increase of 1,500 basis points year-over-year Operating expenses of $7.4 million, down 5% year-over-year Net loss of $(0.3) million, or $(0.01) ...... read more
Energy Recovery Conference Call to Discuss 15-Year License Agreement With Schlumberger
SAN LEANDRO, Calif., Oct. 19, 2015 (GLOBE NEWSWIRE) -- Energy Recovery will host a teleconference at 5:30 a.m. (Pacific Time) on Tuesday, October 20th, 2015 to outline the significance of this company milestone and to answer questions. To listen to the live call, individuals can access the conference call by dialing 877-415-3185, passcode #64509095 approximately 10 minutes before the scheduled ...... read more
Energy Recovery Signs 15-Year License With Schlumberger to Provide Exclusive Rights to Its VorTeq(TM) Hydraulic Fracturing Technology
SAN LEANDRO, Calif., Oct. 19, 2015 (GLOBE NEWSWIRE) -- Energy Recovery, Inc. (NASDAQ:ERII), the leader in pressure energy technology for industrial fluid flows, today announced a 15-year deal with Schlumberger Technology Corporation, the world's leading supplier of geoscience, engineering, drilling, and data management software products and computing services for the exploration and production ...... read more