Energy Recovery Inc Appoints Industry Expert Ismail Nawaz as Vice President, Oil & Gas Product Development
July 19 2011 - 8:00AM
Business Wire
Energy Recovery Inc (NASDAQ:ERII), a leader in the design and
development of energy recovery devices for desalination and other
industrial processes, today announced the hire of seasoned oil and
gas expert Ismail Nawaz as its Vice President, Oil & Gas
Product Development. With over 25 years of experience at
Schlumberger, Nawaz will bring his extensive expertise in product
development and commercialization to lead ERI’s planned expansion
strategy into the oil and gas market.
An oil and gas industry veteran, Nawaz joins ERI as the company
looks to build on its strong position in the desalination market to
refine products and applications for new, large addressable
markets. ERI technologies serve to repurpose pressure energy that
is otherwise lost in high-pressure fluid applications, and the oil
and gas market represents a compelling new business opportunity.
The company anticipates that Nawaz’s unique skills in management,
product development, and market development will accelerate ERI’s
penetration into the oil and gas market and help establish it as a
leader in energy recovery for this new market.
“During his 25-year tenure at Schlumberger, Nawaz developed
invaluable global experience in launching innovative products for
oil and gas applications. He represents an ideal fit to lead
development in this critical strategic market,” said Thomas S.
Rooney, chief executive officer, ERI. “We are very pleased to have
him join ERI at this important phase of the company’s growth.”
An MBA graduate of the MIT Sloan School of Management and a B.S.
graduate of the University of Engineering in Lahore, Pakistan,
Nawaz’s 25 years of experience with Schlumberger in the oil and gas
industry have taken him to numerous destinations across the globe.
Starting in 1985 as a field engineer, he has held various positions
in the Middle East, Latin America, North America and Europe. Most
recently, Nawaz was Global Product Line Manager, Intelligent
Completions, where he was responsible for leading a business team
to develop new products to take to market that address market gaps.
“ERI’s impressive track record for creating energy recovery devices
for the desalination industry makes the company well-positioned to
exploit a significant new market opportunity,” said Nawaz. “I look
forward to contributing my experience, guiding the company towards
success as it begins developing and refining products for the
global oil and gas markets.”
About Energy Recovery Inc
Energy Recovery Inc (NASDAQ:ERII) designs and develops energy
recovery devices that significantly reduce energy consumption for
desalination and other industrial processes. Energy Recovery’s
prominence in the desalination market includes notable technologies
such as the PX Pressure Exchanger™ (PX™) devices, the ERI™
TurboCharger hydraulic turbine energy recovery devices and the ERI™
AquaBold™ and ERI™ AquaSpire™ high- pressure pumps. In total,
Energy Recovery has more than 12,000 devices installed, reducing
the carbon footprint of desalination by saving 1 GW of energy and
offsetting CO2 emissions by more than 5.2 million tons per year.
The company is headquartered in the San Francisco Bay Area with
offices in key centers worldwide, including Madrid, Shanghai, and
the United Arab Emirates. For more information about Energy
Recovery Inc, please visit www.energyrecovery.com.
This press release includes “forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements include our expectation
that we will expand our business into, and penetrate the oil and
gas market and develop a leadership position as a supplier of
energy recovery devices for oil and gas applications. Because such
forward-looking statements involve risks and uncertainties, the
Company's actual results may differ materially from the predictions
in those forward-looking statements. Factors that could cause
actual results to differ materially include, but are not limited
to, our inability to expand our business into the oil and gas
market, our failure or inability to develop or offer commercially
viable products for oil and gas applications and other risks
detailed in the Company's filings with the Securities and Exchange
Commission (“SEC”). All forward-looking statements are made as of
today, and the Company assumes no obligation to update such
statements. For more details relating to the risks and
uncertainties that could cause actual results to differ materially
from those anticipated in our forward-looking statements, please
refer to the Company's SEC filings.
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