Energy Recovery
| Company type | Public |
|---|---|
| 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 (2021)[1] |
| Total assets | $213,690,000 (2021)[1] |
| Total equity | $178,779,000 (2021)[1] |
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.