SAN LEANDRO, Calif.--(BUSINESS WIRE)--
Energy
Recovery Inc. (NASDAQ:ERII) , the leader in pressure energy
technology for industrial fluid flows, announced today that as part of
its continuing diversification, Mr. Thomas S. Rooney, Jr. will be
resigning as Chief Executive Officer to facilitate a transition during
which the Company will identify and appoint a successor to further lead
the Company’s efforts in the oil and gas industry while continuing to
strengthen its market leading position in desalination. The Company's
Board of Directors will actively seek a Chief Executive Officer in the
coming weeks and will keep investors apprised of its progress.
Mr. Rooney stated, “Over the past four years Energy Recovery has
developed three new and highly-innovative technologies specifically
designed for the oil & gas industry, which have both diversified the
Company’s operations and set it on a path for future growth. We believe
it is in the best interest of our Company and our shareholders to now
bring in an executive with considerable expertise in the oil and gas
industry, with necessary acumen and industry connections to maximize our
potential. I’m excited about the future prospects of Energy Recovery and
will work closely with the Board over the next several months to ensure
a smooth and orderly CEO transition.”
Hans Peter Michelet, Chairman of the Board of Directors stated, “Tom has
been instrumental in our diversification into fluid flows other than in
desalination. During his tenure not only has the company maintained its
commanding position in SWRO, but introduced new products to reduce
energy consumption and energy waste across multiple industries. We truly
appreciate Tom’s contributions in positioning ERI at the forefront of a
new commercial dawn. We are pleased that Energy Recovery has a deep
group of committed and experienced professionals that will continue to
move the Company in the right direction during this transition.”
About Energy Recovery
Energy Recovery Inc. (NASDAQ: ERII) technology harvests power from
high-pressure fluid flows and pressure cycles. Through collaboration
with industry, Energy Recovery helps make industrial processes within
water, oil & gas, and other industries more profitable and
environmentally sustainable. With over 14,000 energy recovery devices
installed worldwide, Energy Recovery sets the standard for engineering
excellence, cost savings, and technical services to clients across the
globe. Year after year, the company’s clean technologies save clients
over $1.2 Billion (USD) in energy costs. Headquartered in the San
Francisco Bay Area, Energy Recovery has offices in Madrid, Shanghai, and
Dubai.
Media:
The Equity Group Inc.
Adam Prior, 212-836-9606
Source: Energy Recovery Inc.