Energy Recovery: Difference between revisions
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Fuzzmartin (talk | contribs) Updated infobox content to reflect current information. Removed "products" no longer provided. Cleaned up sources. Rewrote content to be more encyclopedic. Tag: COI template removed |
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{{Undisclosed paid|date=October 2020}} |
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{{Infobox company |
{{Infobox company |
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| name = Energy Recovery Inc. |
| name = Energy Recovery Inc. |
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| defunct = |
| defunct = |
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| area_served = Worldwide |
| area_served = Worldwide |
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| key_people = Robert Mao, [[chief executive officer|CEO]] |
| key_people = Robert Mao, [[chief executive officer|CEO]] |
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| industry = |
| industry = Water, CO<sub>2</sub> |
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| products = PX Pressure Exchanger |
| products = PX Pressure Exchanger |
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| production = |
| production = |
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| services = |
| services = |
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| revenue = $ |
| revenue = $103,904,000{{increase}} (2021)<ref name="2021 ERII 10-K">{{cite web |title=2021 ERII 10-K |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/0001421517/000142151722000037/erii-20211231.htm |website=SEC.gov |publisher=Securities and Exchange Commission |access-date=23 March 2023}}</ref> |
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| operating_income = |
| operating_income = |
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| net_income = |
| net_income = |
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| assets = $213,690,000{{increase}} (2021)<ref name="2021 ERII 10-K" /> |
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⚫ | |||
| equity = $ |
| equity = $178,779,000{{increase}} (2021)<ref name="2021 ERII 10-K" /> |
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| owner = |
| owner = |
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| num_employees = 222 (2021)<ref name="2021 ERII 10-K" /> |
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| num_employees = 188 (2019)<ref name="ERII10k 16">{{cite web|url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1421517/000142151720000011/a10-k2019q4.htm|title=Form 10-K|publisher=Securities and Exchange Commission|access-date=4 Jan 2021|page=16}}</ref> |
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| parent = |
| parent = |
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| divisions = |
| divisions = |
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| subsid = Energy Recovery Iberia S.L.<br />ERI Energy Recovery Ireland Ltd. |
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| homepage = {{URL|energyrecovery.com}} |
| homepage = {{URL|energyrecovery.com}} |
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| foundation = 1992 |
| foundation = 1992 |
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| location_city = [[San Leandro, California]] |
| location_city = [[San Leandro, California]] |
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| location_country = |
| location_country = |
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| locations = |
| locations = 6 |
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}} |
}} |
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⚫ | Energy Recovery is based in [[San Leandro, California]], with international offices in Dubai, United Arab Emirates; Shanghai, China; and Madrid, Spain.<ref name="2021 ERII 10-K">{{cite web|url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1421517/000142151720000011/a10-k2019q4.htm|title=Form 10-K|publisher=Securities and Exchange Commission|access-date=4 Jan 2021|page=21}}</ref> |
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'''Energy Recovery Inc.''' (NASDAQ: ERII)<ref>http://www.nasdaq.com/symbol/erii {{Bare URL inline|date=August 2022}}</ref> manufactures [[energy recovery]] devices for fluid-flow industries globally, most notably Sea Water Reverse Osmosis (SWRO).<ref name=Leon>{{cite news |
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|first=Leon |
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|last=Kaye |
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|title=The Business Case for Sustainable Technology |
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|newspaper=The Guardian |
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|date=8 March 2013 |
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|url=https://www.theguardian.com/sustainable-business/business-case-sustainable-technology |
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}}</ref> Different applications of the company’s core technologies harness untapped fluid energy or facilitate the transfer of energy between two different fluids, reducing overall operating costs and carbon emissions in a variety of industrial applications such as desalination, wastewater treatment, and CO2 refrigeration.<ref name=":1" /> Energy Recovery produces its equipment in a facility located at the company’s headquarters.<ref>{{Cite web|url=https://www.forbes.com/sites/uciliawang/2013/07/30/an-energy-capture-tech-to-power-the-largest-seawater-desalination-plant-in-the-u-s/?partner=yahootix#d5af0bd16eca|title=An Energy Capture Tech To Power The Largest Seawater Desalination Plant In The U.S.|website=Forbes|access-date=2016-03-23}}</ref> |
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Energy Recovery is based in [[San Leandro, California]], with international offices in Dubai, United Arab Emirates; and Shanghai, China; and Madrid, Spain.<ref name="ERII10k 21">{{cite web|url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1421517/000142151720000011/a10-k2019q4.htm|title=Form 10-K|publisher=Securities and Exchange Commission|access-date=4 Jan 2021|page=21}}</ref> |
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==History== |
==History== |
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Energy Recovery was founded in 1992 by Leif and Marissa Hauge and incorporated in Virginia. The company was reincorporated in Delaware in 2001.<ref name=" |
Energy Recovery was founded in 1992 by Leif and Marissa Hauge and incorporated in Virginia. The company was reincorporated in Delaware in 2001.<ref name="Business Journal">{{Cite web|url=http://www.bizjournals.com/sanfrancisco/stories/2008/06/30/daily30.html|title=San Leandro's Energy Recovery shines in IPO - San Francisco Business Times|website=San Francisco Business Times|access-date=2016-03-23}}</ref> Energy Recovery began selling its PX pressure exchanger products for seawater reverse osmosis (SWRO) desalination applications in 1997 and went public in 2008.<ref name="Business Journal" /> |
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On October 19, 2015, Energy Recovery signed a 15-year licensing agreement with Schlumberger Technology Corporation granting Schlumberger the exclusive rights to utilize Energy Recovery’s VorTeq technology in on-shore oil and gas well completions globally.<ref name="reuters.com">{{Cite news|url=https://www.reuters.com/article/energy-recovery-fracking-idUSL1N12G29Y20151019|title=Energy Recovery lands $125 mln deal with Schlumberger|date=2015-10-19|newspaper=Reuters|access-date=2016-03-23}}</ref> |
On October 19, 2015, Energy Recovery signed a 15-year licensing agreement with Schlumberger Technology Corporation granting Schlumberger the exclusive rights to utilize Energy Recovery’s VorTeq technology in on-shore oil and gas well completions globally.<ref name="reuters.com">{{Cite news|url=https://www.reuters.com/article/energy-recovery-fracking-idUSL1N12G29Y20151019|title=Energy Recovery lands $125 mln deal with Schlumberger|date=2015-10-19|newspaper=Reuters|access-date=2016-03-23}}</ref> As of 2022, Energy Recovery no longer produces the VorTeq product.<ref>{{cite web |last1=Accesswire |title=Energy Recovery Announces Exit From VorTeq(TM) Exclusive Licensing Agreement with Schlumberger |url=https://www.yahoo.com/now/energy-recovery-announces-exit-vorteq-200200115.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAJ3L45GqIz7WB7g6LctamSNbnTvFw-GFq0AeVLa1jEMImX_Ql_FV9u9Hxm9V-ygesfTI137NAq8Gq3cborLTZVVYHzZcTkPvtJpzeWCl_SGE2WHjbLJCB6Rn-6-gYcPZF3qjIDvHzWk5wKE5cH7LML5ik_-wob0KeuwQjKfr8Eom |website=Yahoo.com |publisher=Yahoo! |access-date=23 March 2023}}</ref> |
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In 2016, |
In 2016, Forbes reported that Energy Recovery was the top performing company in California in terms of annual returns on investment, with a return of 317.3%.<ref>{{cite journal|last1=Sola|first1=Katie|title=The Best Performing Company In Every State, Ranked By Return|journal=Forbes|date=25 June 2016|url=https://www.forbes.com/sites/katiesola/2016/06/25/the-best-performing-company-in-every-state-ranked-by-return/#5000af605ad1|access-date=8 August 2016}}</ref> |
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The company is currently led by president and chief executive officer Robert Mao who was appointed in May 2020.<ref>{{Cite news |date=May 2020 |title=Energy Recovery Names Robert Mao President and Chief Executive Officer |language=en-US |url=http://www.energyrecovery.com/media/energy-recovery-names-robert-mao-president-and-chief-executive-officer/ |access-date=2021-01-05}}</ref> |
The company is currently led by president and chief executive officer Robert Mao who was appointed in May 2020.<ref>{{Cite news |date=May 2020 |title=Energy Recovery Names Robert Mao President and Chief Executive Officer |language=en-US |url=http://www.energyrecovery.com/media/energy-recovery-names-robert-mao-president-and-chief-executive-officer/ |access-date=2021-01-05}}</ref> |
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==Products== |
==Products== |
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⚫ | The PX Pressure Exchanger device is Energy Recovery’s flagship product used in [[desalination]].<ref name=":2">{{Cite web|url=http://www.altenergystocks.com/archives/2014/12/energy_recovery_offers_savings_to_gas_industry.html|title=Energy Recovery Offers Savings to Gas Industry {{!}} Alternative Energy Stocks|website=www.altenergystocks.com|access-date=2016-03-23|archive-date=2017-06-27|archive-url=https://web.archive.org/web/20170627081930/http://www.altenergystocks.com/archives/2014/12/energy_recovery_offers_savings_to_gas_industry.html|url-status=dead}}</ref> The Pressure Exchanger's technology utilizes pressure energy to reduce electricity and maintenance costs.<ref name="2021 ERII 10-K" /> The device collides two fluid flows, transferring the energy from one fluid to the next. This energy transfer occurs in a fraction of a second, reducing the interaction between the two fluids.<ref name=":0">{{Cite web|url=http://www.wwdmag.com/desalination/creating-economical-drinking-water-supply|title=Creating an Economical Drinking Water Supply {{!}} The Solutions Source of the Water & Wastewater Industry|website=www.wwdmag.com|date=13 October 2014|access-date=2016-03-23}}</ref> Energy Recovery developed pressure exchanger products for specific applications, including its PX G1300™ for the CO2 refrigeration industry<ref>{{cite web |title=PX G1300 |url=https://energyrecovery.com/px-g1300/ |website=Energy Recovery, Inc. |access-date=23 March 2023}}</ref>, and its Ultra PX™ for Ultra High-Pressure Reverse Osmosis (UHPRO) applications in wastewater treatment.<ref>{{cite web |title=Ultra PX |url=https://energyrecovery.com/industrial-wastewater/ultra-px/ |website=Energy Recovery, Inc. |access-date=23 March 2023}}</ref> |
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⚫ | Energy Recovery holds a majority market share in the desalination industry.<ref>{{Cite web|url=http://www.waterworld.com/articles/wwi/print/volume-28/issue-4/upfront/leader-focus/riding-the-desalination-wave-of-energy-recovery.html|title=Riding the desalination Wave of Energy Recovery|website=www.waterworld.com|access-date=2016-03-23}}</ref> There are more than 30,000 Pressure Exchangers supplied in more than 100 countries worldwide.<ref>{{cite web |title=2021 ESG Highlights |url=https://energyrecovery.com/about-us/environmental-social-governance/?utm_source=IR+Website&utm_medium=ESG+Page&utm_campaign=ESG21 |website=Energy Recovery, Inc. |access-date=23 March 2023 |page=18 |format=PDF}}</ref> The company’s technologies have cut more than 14 billion kWh of energy each year and produced more than 12 billion liters of clean water daily.<ref>{{Cite web|url=http://www.altenergymag.com/content.php?post_type=2169|title=What is osmotic power? {{!}} AltEnergyMag|website=www.altenergymag.com|access-date=2016-03-23}}</ref> |
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⚫ | |||
⚫ | The PX Pressure Exchanger device is Energy Recovery’s flagship product used in [[desalination]].<ref name=":2">{{Cite web|url=http://www.altenergystocks.com/archives/2014/12/energy_recovery_offers_savings_to_gas_industry.html|title=Energy Recovery Offers Savings to Gas Industry {{!}} Alternative Energy Stocks|website=www.altenergystocks.com|access-date=2016-03-23|archive-date=2017-06-27|archive-url=https://web.archive.org/web/20170627081930/http://www.altenergystocks.com/archives/2014/12/energy_recovery_offers_savings_to_gas_industry.html|url-status=dead}}</ref> |
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⚫ | Energy Recovery holds a majority market share in the desalination industry.<ref>{{Cite web|url=http://www.waterworld.com/articles/wwi/print/volume-28/issue-4/upfront/leader-focus/riding-the-desalination-wave-of-energy-recovery.html|title=Riding the desalination Wave of Energy Recovery|website=www.waterworld.com|access-date=2016-03-23}}</ref> There are |
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=== VorTeq === |
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VorTeq adapts Energy Recovery’s Pressure Exchanger technology to protect pumps used in the hydraulic fracturing process from fluid damage, improving efficiencies by cutting costs and production time during fracturing jobs.<ref name=":5">{{Cite web|url=http://whitetree.net/2015/01/energy-recovery-erii-insider-buying-and-the-fear-of-missing-out/|title=Energy Recovery – $ERII – Insider Buying and The Fear of Missing Out {{!}} WhiteTree|website=whitetree.net|access-date=2016-03-23}}</ref> The VorTeq hydraulic pumping system was unveiled at Energy Recovery’s December 2014 analyst and investor event in New York City.<ref>{{Cite web|url=http://www.shaleenergyinsider.com/2014/12/08/energy-recovery-inc-commercialises-new-fracking-technology/ |title=Energy Recovery Inc. commercialises new fracking technology {{!}} Shale Energy Insider |website=www.shaleenergyinsider.com |access-date=2016-03-23 |url-status=dead |archive-url=https://web.archive.org/web/20160405072446/http://www.shaleenergyinsider.com/2014/12/08/energy-recovery-inc-commercialises-new-fracking-technology/?utm_source=rss&utm_medium=rss&utm_campaign=energy-recovery-inc-commercialises-new-fracking-technology |archive-date=2016-04-05 }}</ref> That same year, Energy Recovery filed 43 patents to develop VorTeq’s technology for use in [[hydraulic fracturing]].<ref name=":1" /> |
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On October 19, 2015, Energy Recovery announced a 15-year licensing agreement with Schlumberger Technology Corporation, granting Schlumberger the exclusive rights to utilize Energy Recovery’s VorTeq technology in onshore oil and gas well completions globally.<ref name="reuters.com"/> |
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A major pain point in hydraulic fracturing is pump failure caused by the sand or [[proppant]]-filled fluid.<ref name=":3">{{Cite web|url=https://thewaternetwork.com/article-FfV/launch-of-vorteq-for-hydraulic-fracturing-industry-nzaCs8T00ltlvYqVxYRpGQ|title=The Water Network {{!}} by AquaSPE|website=thewaternetwork.com|access-date=2016-03-23}}</ref> Every year, approximately US$4.1 million is spent by frac crews performing maintenance on pumps, resulting in an average 40 percent redundancy in equipment on site.<ref name=":1">{{Cite web|url=http://www.rigzone.com/news/oil_gas/a/136653/Company_Offers_Pressure_Energy_Solution_for_Hydraulic_Fracturing/?pgNum=1|title=Company Offers Pressure Energy Solution for Hydraulic Fracturing|website=www.rigzone.com|access-date=2016-03-23}}</ref> The proppant-filled fluid passes through VorTeq so that high pressure pumps aren’t damaged.<ref name=":1" /> This allows the pump fleet to pump only clean water.<ref name=":1" /> VorTeq’s technology can potentially save companies up to US$1 million per fleet in maintenance costs, and save the hydraulic fracturing industry approximately US$1.4 billion per year.<ref name=":1" /> |
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The device is designed to handle up to 110 barrels per minute with a treating pressure of up to 15,000 psi and the core is made of tungsten carbide, which is 1,000 times more resistant to abrasion than steel.<ref name=":3" /> |
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Liberty Oilfield Services will be the first company to test VorTeq in 2015 and will conduct the first live well field trials.<ref name=":2" /> |
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According to Neal Hagerman, engineering manager at Integrated Petroleum Technologies, “Incorporating the VorTeq system could represent a paradigm shift in how the service company industry approaches preventative maintenance, because hydraulic horsepower pumps will no longer be exposed to the abrasive slurry mixture of proppant and water, the source of most maintenance issues. Eliminating these issues will reduce backup requirements and improve overall operational efficiency.” <ref>{{Cite web|url=http://www.flowcontrolnetwork.com/new-pump-protection-system-touted-as-paradigm-shift-for-hydraulic-fracturing/|title=New Pump Protection System Touted as 'Paradigm Shift' for Hydraulic Fracturing {{!}} Flow Control Network|website=Flow Control Network|language=en-US|access-date=2016-03-23}}</ref> |
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===IsoBoost=== |
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Energy Recovery’s IsoBoost system reduces the wear on pumps used in gas processing and ammonia production, reducing maintenance costs and increasing plant runtime.<ref name=":4" /> |
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The IsoBoost system is the highest efficiency energy recovery system on the market for [[amine]] processing.<ref name=":4">{{Cite web|url=http://www.oilandgasonline.com/doc/isoboost-system-0001|title=Energy Recovery's IsoBoost™ Saves Energy And Reduces Carbon Footprint|website=www.oilandgasonline.com|access-date=2016-03-23}}</ref> IsoBoost’s technology is designed to harness energy from pressure drops in one liquid process flow to boost the pressure in an adjacent flow.<ref name=":4" /> At the heart of the IsoBoost system is a hydraulic turbocharger, which is customized for each application to yield optimal operational flexibility at high efficiencies.<ref name=":4" /> |
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The IsoBoost system employs a liquid phase turbocharger with maximum flexibility.<ref name=":4" /> The device recovers energy in acid gas treatment processes at up to 80 percent efficiency, increasing productivity and profitability and reducing the [[carbon footprint]] created during the processes.<ref name=":4" /> |
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Energy Transfer partners’ Jackalope plant in Hebronville, Texas, installed IsoBoost in 2008, and the plant’s total maintenance costs have fallen by 67 percent.<ref name=":1" /> |
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===IsoGen=== |
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Energy Recovery’s IsoGen system generates electricity by taking the energy in the fluid and converting it into usable electrical power.<ref name=":5" /> |
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The IsoGen turbine, with an electrical generator, captures the pressure energy released by pipelines when fluids flow downhill.<ref name=":1" /> When oil or gas travels downhill in a pipeline, it builds pressure, and pipelines use choke valves to release that excess pressure. The energy that is released through this pressure letdown is usually wasted.<sup>[12]</sup> Through the IsoGen, this energy can be captured and used at the pumping station or transferred into the power grid.<ref name=":1" /> |
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In 2015, [[Saudi Aramco]] commissioned an IsoGen system for a gas processing plant in the Middle East.<ref>{{Cite web|url=http://www.energyrecovery.com/media/energy-recovery-commissions-first-isogen-turbogenerator-system-saudi-aramco/|title=Energy Recovery Commissions First IsoGen Turbogenerator System for Saudi Aramco - Energy Recovery|website=Energy Recovery|language=en-US|access-date=2016-03-23}}</ref> |
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==References== |
==References== |
Revision as of 13:52, 30 March 2023
Company type | Public |
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Nasdaq: ERII Russell 2000 Component | |
Industry | Water, CO2 |
Founded | 1992 |
Founder | Leif Hauge |
Headquarters | |
Number of locations | 6 |
Area served | Worldwide |
Key people | Robert Mao, CEO |
Products | PX Pressure Exchanger |
Revenue | $103,904,000![]() |
Total assets | $213,690,000![]() |
Total equity | $178,779,000![]() |
Number of employees | 222 (2021)[1] |
Website | energyrecovery |
Energy Recovery is based in San Leandro, California, with international offices in Dubai, United Arab Emirates; Shanghai, China; and Madrid, Spain.[1]
History
Energy Recovery was founded in 1992 by Leif and Marissa Hauge and incorporated in Virginia. The company was reincorporated in Delaware in 2001.[2] Energy Recovery began selling its PX pressure exchanger products for seawater reverse osmosis (SWRO) desalination applications in 1997 and went public in 2008.[2]
On October 19, 2015, Energy Recovery signed a 15-year licensing agreement with Schlumberger Technology Corporation granting Schlumberger the exclusive rights to utilize Energy Recovery’s VorTeq technology in on-shore oil and gas well completions globally.[3] As of 2022, Energy Recovery no longer produces the VorTeq product.[4]
In 2016, Forbes reported that Energy Recovery was the top performing company in California in terms of annual returns on investment, with a return of 317.3%.[5]
The company is currently led by president and chief executive officer Robert Mao who was appointed in May 2020.[6]
Products
PX Pressure Exchanger
The PX Pressure Exchanger device is Energy Recovery’s flagship product used in desalination.[7] The Pressure Exchanger's technology utilizes pressure energy to reduce electricity and maintenance costs.[1] The device collides two fluid flows, transferring the energy from one fluid to the next. This energy transfer occurs in a fraction of a second, reducing the interaction between the two fluids.[8] Energy Recovery developed pressure exchanger products for specific applications, including its PX G1300™ for the CO2 refrigeration industry[9], and its Ultra PX™ for Ultra High-Pressure Reverse Osmosis (UHPRO) applications in wastewater treatment.[10]
Energy Recovery holds a majority market share in the desalination industry.[11] There are more than 30,000 Pressure Exchangers supplied in more than 100 countries worldwide.[12] The company’s technologies have cut more than 14 billion kWh of energy each year and produced more than 12 billion liters of clean water daily.[13]
References
- ^ a b c d e f "2021 ERII 10-K". SEC.gov. Securities and Exchange Commission. Retrieved 23 March 2023. Cite error: The named reference "2021 ERII 10-K" was defined multiple times with different content (see the help page).
- ^ a b "San Leandro's Energy Recovery shines in IPO - San Francisco Business Times". San Francisco Business Times. Retrieved 2016-03-23.
- ^ "Energy Recovery lands $125 mln deal with Schlumberger". Reuters. 2015-10-19. Retrieved 2016-03-23.
- ^ Accesswire. "Energy Recovery Announces Exit From VorTeq(TM) Exclusive Licensing Agreement with Schlumberger". Yahoo.com. Yahoo!. Retrieved 23 March 2023.
- ^ Sola, Katie (25 June 2016). "The Best Performing Company In Every State, Ranked By Return". Forbes. Retrieved 8 August 2016.
- ^ "Energy Recovery Names Robert Mao President and Chief Executive Officer". May 2020. Retrieved 2021-01-05.
- ^ "Energy Recovery Offers Savings to Gas Industry | Alternative Energy Stocks". www.altenergystocks.com. Archived from the original on 2017-06-27. Retrieved 2016-03-23.
- ^ "Creating an Economical Drinking Water Supply | The Solutions Source of the Water & Wastewater Industry". www.wwdmag.com. 13 October 2014. Retrieved 2016-03-23.
- ^ "PX G1300". Energy Recovery, Inc. Retrieved 23 March 2023.
- ^ "Ultra PX". Energy Recovery, Inc. Retrieved 23 March 2023.
- ^ "Riding the desalination Wave of Energy Recovery". www.waterworld.com. Retrieved 2016-03-23.
- ^ "2021 ESG Highlights" (PDF). Energy Recovery, Inc. p. 18. Retrieved 23 March 2023.
- ^ "What is osmotic power? | AltEnergyMag". www.altenergymag.com. Retrieved 2016-03-23.