Energy Recovery
{{Short description|U.S. based manufacturer of energy recovery devices}}
{{Multiple issues|
{{Paid contributions|date=December 2023}}
{{Undisclosed paid|date=December 2023}}
}}
{{Infobox company
| name = Energy Recovery Inc.
| logo =
| logo_caption =
| image =
| image_caption =
| type = Public
| traded_as = {{NASDAQ|ERII}}
Russell 2000 Component
| founder = Leif Hauge
| defunct =
| area_served = Worldwide
| key_people = David Moon (CEO)
| industry = Water, CO2 Refrigeration
| products = PX Pressure Exchanger
| production =
| services =
| revenue = $128,349,000{{increase}} (2023){{cite web |title=Energy Recovery Reports Record Full Year and Fourth Quarter Revenue for 2023 |url=https://ir.energyrecovery.com/news-events/press-releases/detail/343/energy-recovery-reports-record-full-year-and-fourth-quarter |website=ir.energyrecovery.com |publisher=Energy Recovery |access-date=31 December 2023}}
| operating_income =
| net_income =
| assets = $252,974,000{{increase}} (2023)
| equity = $219,808,000{{increase}} (2023)
| owner =
| num_employees = 269 (2023){{cite web |title=Company Information |url=https://ir.energyrecovery.com/company-information |website=ir.energyrecovery.com |publisher=Energy Recovery |access-date=21 February 2024}}
| parent =
| divisions =
| homepage = {{URL|energyrecovery.com}}
| foundation = {{start date and age|1992}}
| location_city = San Leandro, California
| location_country =
| locations = 3
}}
Energy Recovery Inc.{{cite web|url=http://www.nasdaq.com/symbol/erii|title=Energy Recovery, Inc. Common Stock|website=Nasdaq|access-date=December 22, 2023}} is an American manufacturer of energy recovery devices for water and CO2 refrigeration industries.{{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}}{{cite news
|first=Leon
|last=Kaye
|title=The Business Case for Sustainable Technology
|newspaper=The Guardian
|date=8 March 2013
|url=https://www.theguardian.com/sustainable-business/business-case-sustainable-technology
}}
History
Energy Recovery was founded in 1992 by Leif and Marissa Hauge and incorporated in Virginia. The company was reincorporated in Delaware in 2001.{{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}} Energy Recovery began selling its PX pressure exchanger products for seawater reverse osmosis (SWRO) desalination applications in 1997 and went public in 2008. It has since expanded its product offerings to include a variety of pressure exchangers operating at multiple pressure ranges for desalination, wastewater treatment, and {{CO2}} refrigeration.
The company is currently led by David Moon, President and Chief Executive Officer.{{Cite news |date=Jan 2024 |title=Energy Recovery Appoints David Moon as President and CEO |language=en-US |url=https://energyrecovery.com/news/energy-recovery-appoints-david-moon-as-president-and-ceo/ |access-date=2021-01-05}}
Products
=PX Pressure Exchanger=
The PX Pressure Exchanger device is Energy Recovery's flagship product used in desalination.{{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}} The Pressure Exchanger's technology utilizes pressure energy to reduce electricity and maintenance costs.{{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}} 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.{{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}} Energy Recovery developed pressure exchanger products for specific applications, including its PX G1300™ for the {{CO2}} refrigeration industry,{{cite web |title=PX G1300 |url=https://energyrecovery.com/px-g1300/ |website=Energy Recovery, Inc. |access-date=23 March 2023}} and its Ultra PX™ for Ultra High-Pressure Reverse Osmosis (UHPRO) applications in wastewater treatment.{{cite web |title=Ultra PX |url=https://energyrecovery.com/industrial-wastewater/ultra-px/ |website=Energy Recovery, Inc. |access-date=23 March 2023}}
Energy Recovery holds a majority market share in the desalination industry.{{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|date=September 2013 |access-date=2016-03-23}} There are more than 30,000 Pressure Exchangers supplied in more than 100 countries worldwide.{{cite web |title=2021 ESG Highlights |url=https://energyrecovery.com/about-us/environmental-social-governance/ |website=Energy Recovery, Inc. |access-date=23 March 2023 |page=18 |format=PDF}} 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.{{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}}
References
{{Reflist}}
External links
- [http://www.energyrecovery.com Official Energy Recovery Inc. website]
Category:Energy companies of the United States
Category:Technology companies based in the San Francisco Bay Area
Category:Companies based in San Leandro, California
Category:Energy companies established in 1992
Category:Non-renewable resource companies established in 1992