Energy Recovery, Inc. Ranks in the Top 150 Fastest Growing Companies in North America on Deloitte’s 2009 Technology Fast 50...
October 20 2009 - 8:30AM
Business Wire
Energy Recovery, Inc. (NASDAQ:ERII), a leader in the design and
development of energy recovery devices for desalination, today
announced that it ranks in the top 150 on the Technology Fast 500™,
Deloitte LLP’s ranking of 500 of the fastest growing technology,
media, telecommunications, life sciences and clean technology
companies in North America. Rankings are based on percentage of
fiscal year revenue growth during the five year period from
2004–2008, and Energy Recovery grew 1,188 percent during this
period.
“Although Energy Recovery has captured more than 50 percent
market share for global desalination plants, we continue to enhance
the performance of our technology and improve our operational
efficiency. This has enabled us to grow more than 40-fold in the
past seven years,” said G.G. Pique, president and CEO of Energy
Recovery, Inc. “We are proud that this growth has been recognized
by the prestigious Technology Fast 500 list, and we look forward to
even greater success as we continue to help make desalination an
affordable solution to mounting global water shortages.”
Technology Fast 500™ provides a ranking of the fastest growing
technology, media, telecommunications, life sciences and clean
technology companies in North America. This ranking is compiled
from nominations submitted directly to the Technology Fast 500™
website, and public company database research conducted by
Deloitte. Technology Fast 500™ award winners for 2009 are selected
based on percentage fiscal year revenue growth during the five year
period from 2004 to 2008.
“With its impressive five-year growth, Energy Recovery has
earned its position among the fastest growing technology, media,
telecommunications, life sciences and clean technology companies in
North America,” said Mark Jensen, Managing Partner, Technology and
Venture Capital Services, Deloitte & Touche LLP. “Deloitte is
proud to honor Energy Recovery for its achievement.”
Energy Recovery's PX devices operate at up to 98 percent
efficiency and reduce the energy consumption of SWRO systems by up
to 60 percent, making desalination a cost-effective solution for
clean water supply. PX devices also reduce the carbon footprint of
desalination, saving more than 750 MW of energy and reducing CO2
emissions by more than 4.6 million tons per year worldwide. More
than 7,000 PX devices are currently deployed or under contract to
be installed at desalination plants across the globe. For more
information about Energy Recovery's PX Pressure Exchanger
technology, visit http://www.energyrecovery.com or send an email to
info@energyrecovery.com.
Deloitte’s 2009 Technology Fast 500TM Media Guidance
4
In order to be eligible for Technology Fast 500™ recognition,
companies must own proprietary intellectual property or proprietary
technology that contributes to a significant portion of the
company's operating revenues. Using other companies' technology or
intellectual property in a unique way does not satisfy this
requirement. Consulting companies, professional service firms, etc.
are not eligible unless they have proprietary technology that
contributes to a significant portion of their operating revenues.
Technology Fast 500™ award eligibility requirements also include
base-year operating revenues of at least $50,000 USD or CD, and
current-year operating revenues of at least $5 million USD or CD.
These revenues must have more than doubled between 2004 and 2008.
Additionally, companies must be in business for a minimum of five
years, and be headquartered within North America.
About ERI
Energy Recovery, Inc. (NASDAQ:ERII) designs and develops energy
recovery devices that help make desalination affordable by
significantly reducing energy consumption. ERI’s PX Pressure
Exchanger™ (PX™) device is a rotary positive displacement pump that
recovers energy from the high pressure reject stream of seawater
reverse osmosis systems at up to 98% efficiency. The company is
headquartered in the San Francisco Bay Area with offices in key
desalination centers worldwide, including Madrid, Shanghai, Florida
and the United Arab Emirates. For more information on ERI and PX
technology, please visit www.energyrecovery.com.
About Deloitte
As used in this document, “Deloitte” means Deloitte LLP. Please
see www.deloitte.com/about for a detailed description of the legal
structure of Deloitte LLP and its subsidiaries.
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