Energy Recovery
 | This article contains content that is written like an advertisement. (July 2008) |
| Company type | Public (NASDAQ:ERII) |
|---|---|
| Industry | Water Resources |
| Founded | 1992 |
| Headquarters | San Leandro, CA, San Leandro, California , |
Number of locations | 5 (San Leandro, CA; Sunrise, FL; Madrid, Spain; Dubai, UAE; Shanghai, China) as of 2008-07-01 |
Area served | Worldwide |
Key people | Hans Peter Michelet, Executive Chairman of the Board GG Pique, President, Chief Executive Officer and Director |
| Products | PX Pressure Exchanger® Energy Recovery Device: Model: PX-30, PX-45/70/90, PX-140S, PX-220, PX-260, PX Booster Pumps |
| Services | Aftermarket service and support |
| Revenue | $35.4 million in FY 2007 |
| $9.3 million in FY 2007 | |
| $5.8 million in FY 2007 | |
| Total assets | $27.3 million at December 31, 2007 |
| Total equity | $20.1 million at December 31, 2007 (Note: ERI recently completed an IPO where it raised approximately $80 million in proceeds net of underwriting fees. The Company is listed on the NASDAQ as ERII. |
| Owner | Various institutions and individuals |
Number of employees | 83 as of 09 July 2008 |
| Website | http://www.energyrecovery.com |
Energy Recovery Inc. (ERI®) is a California multinational corporation which designs and manufactures energy recovery products and technology for seawater reverse osmosis (SWRO) desalination. The company’s best known product includes a line of PX Pressure Exchanger® energy recovery devices.
Hans Peter Michelet HP Michelet who has been in the Board of Energy Recovery since 1995 is currently the Chairman. G G Pique GG Pique has been the President and CEO since 2002.
History
The company was established in 1992 with the goal of making seawater desalination affordable by reducing energy costs. Based on a rotary positive displacement pump principle, the company's PX® devices recover energy from the high-pressure waste stream of SWRO desalination systems. This technology can reduce the cost of water production to less than half the cost without energy recovery.
Today ERI works with over 80 OEMs (Original Equipment Manufacturers) or engineering companies worldwide. their headquarters is situated in the San Francisco Bay Area; San Leandro, California USA with offices in different parts of the world including: Sunrise, Florida; Madrid, Spain; United Arab Emirates; Shanghai, China.
PX Pressure Exchanger
The company prides itself of producing the technology that desalination companies will eventually use for seawater desalination.
The PX Pressure Exchanger, is based on a rotary-type energy recovery device (ERD) with only one moving part that recovers energy from the waste stream of seawater reverse osmosis (SWRO) systems and applies it to the low-pressure incoming seawater at up to 98% efficiency. At the core of the device is a ceramic rotor which avoids corrosion and has low vibration, providing maintenance-free and fail-safe operation. PX technology dramatically reduces costs associated with the energy intensive SWRO desalination process by up to 60% as compared to desalination plants without any energy recovery devices. The company said its devices reduce the process' energy consumption by about 60 percent.
To date, Energy Recovery had shipped over 6,000 PX devices to desalination plants worldwide, including in China, Europe, India, Australia, Africa, the Middle East, North America and the Caribbean.
The company's chief executive, GG Pique, previously served as the group vice president of US Filter Corp.'s Latin America operations before it was acquired by Vivendi.
Financial and Initial Public Offering
Energy Recovery Inc. has filed plans to list their company on NASDAQ under the ticker symbol "ERII" in which they expect of their 14M shares - 8.1 million of which will be offered by the firm itself, with the remaining 5.9 million to be sold by a stockholder group — to fetch between $7 and $9 apiece.
Awards and Achievements
2006 - Energy Recovery Inc. was named Ex-IM Bank'S Environmental Exporter of the Year. Ex-Im Bank was proud to support groundbreaking small businesses which contribute to environmentally beneficial development in emerging markets while supporting high-quality U.S. jobs as said by their Bank Chairman and President at that time, James H. Lambright. And we quote him saying:
"As a model of such innovation, Energy Recovery Inc. well deserves this year's Small Business Environmental Exporter of the Year award."
2007 - ThinkGlobal/Commercial News USA Exporter of the Year award from ThinkGlobal Inc., publisher of Commercial News USA, the official export promotion magazine of the U.S. Commerce Department.
Energy Recovery Inc. provides seawater reverse osmosis desalination products which are saving 200MW of energy worldwide. The company reported a 165% increase in export sales from 2004. Exports now represent 59% of the company’s total sales.
Gregory Sandler, publisher of Commercial News USA, said that Energy Recovery’s success is indicative of how American companies can benefit from exporting.
“With 95% of the world’s market outside the U.S., there is significant growth opportunity for American manufactures and service providers.”
References
Hans Peter Michelet - Exceutive Chairman of the Board of Directors
Energy Recovery Inc., of San Leandro, California, is named EX-IM Bank's Environemental Exporter of the Year
Energy Recovery discloses expected IPO terms
Energy Recovery registers for IPO
Energy Recovery Inc., MSN Money
Energy Recovery Inc., Inc5000
World Business Review - Energy Recovery, Inc.
Energy Recovery Files IPO for Desalination
http://ggpique.blogspot.com/
http://www.energyrecovery.com/company/GG_Pique.php
http://www.idadesal.org/t-board_063.aspx
http://www.economist.com/search/displaystory.cfm?story_id=11484059
http://eastbay.bizjournals.com/eastbay/stories/2008/05/05/story2.html?b=1209960000^16300134
http://www.sec.gov/Archives/edgar/data/1421517/000095013408010930/f38510a2sv1za.htm