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November 20, 2012
12:51 EDTERIIEnergy Recovery says water demand driving takeover interest, Bloomberg reports
The CEO of Energy Recovery, Tom Rooney, told Bloomberg in a phone interview that lots of industrial concerns are looking at the company given the global demand for water. However, Rooney added they "don't want to be bought out." Shares of Energy Recovery surged 12% to $2.90 following Bloomberg's report.
News For ERII From The Last 14 Days
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August 17, 2015
12:16 EDTERIIEnergy Recovery awarded $1.8M for desalination deal in Morocco
Energy Recovery announced a $1.8M deal to supply its PX Pressure Exchanger technology for a desalination plant in Morocco. The company expects the order to ship in the fourth quarter of 2015. The Pressure Exchangers will be installed by Morocco's National Power Drinking Water Office, which will process 100,000 cubic meters of water per day. They will be using PX-Q300 units, the highest-performing energy recovery devices available on the market. The plant is being developed under ONEE as the first public-private partnership system, and will produce water for 500,000 people. The plant's capacity could potentially be doubled in the future. Energy Recovery estimates that the plant will save 10.5 MW in power equivalent to 92 GWh per year in energy savings. The plant will also reduce its CO2 footprint by 54,200 tons per year.

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