/24-7PressRelease/ - SAN LEANDRO, CA, June 29, 2008 - ERI has also enlisted the expertise of current board member and former ERI board chairman C. Pete Darby to oversee the company's product development and engineering programs. While Dr. Stover has been involved in the commercial development of the PX Pressure Exchanger (PX ) energy recovery device for the last six years, organizational change expands and formalizes his role as the Company's sales leader. Dr. Stover retains responsibility for strategic positioning of PX technology, providing technical product support services and managing and expanding ERI's intellectual property holdings. By combining his unique skill sets in technology and business development, ERI will greatly benefit in this decision. In May 2006, Dr. Stover was co-recipient of the Sid Loeb Award for technical excellence from the European Desalination Society (EDS).
Pete Darby will now head the development of new technologies for ERI. He will advise and support the product development and engineering teams while retaining his position as a corporate board member. In July 2007, Mr. Darby received the American Membrane Technology's Association (AMTA) Hall of Fame Lifetime Achievement Award for his continued commitment to membrane and desalination industry through his critical role in pioneering advancements in FRP Pressure Vessels for membrane separation processes. Mr. Darby's industry expertise and leadership has been instrumental in helping ERI become one of the fastest growing global companies in the seawater RO desalination market.
GG Pique, ERI President and CEO said, "We had to drag Pete out of retirement. His lifetime experience is invaluable and we're extremely pleased to have him actively participating in our product development efforts. Dr. Rick is one of the brightest people around and utilizing his strengths in both technology and sales was a clear choice. "
ERI was awarded the Global Water Awards 2007 Environmental Contribution of the Year by desalination industry leaders and named the 2006 and 2007 U.S. Export/Import Bank and US Commerce Department's "Environmental Exporter of the Year;" an honor awarded for its technological leadership and innovation in bringing cost effective desalination to nations around the globe. The San Leandro, California based company was recently ranked No. 11 in the Top Companies in Environmental Services in Inc. 5000's fastest growing companies in America for 2007 and No. 47 in the Top Companies in the San Francisco Bay Area. In 2006, ERI also received the European Desalination Society's prestigious Sidney Loeb Award for outstanding innovation.
Currently, ERI's patented PX technology is making cost efficient desalination of seawater possible in over 30 countries worldwide, covering six continents.
About ERI
Energy Recovery, Inc. (ERI) is a leading manufacturer of energy recovery devices, which by drastically reducing energy consumption is helping make desalination affordable and enabling the rapid expansion of desalination plants worldwide. ERI's PX Pressure Exchanger technology (PX ) is a rotary positive displacement pump that recovers energy from the high pressure waste stream of SWRO systems at up to 98% efficiency with no downtime or scheduled maintenance. With over 6,000 PX devices installed or contracted in plants worldwide, PX technology is reducing the cost to produce over 5.2 million cubic meters (1.4 billion US gallons) a day of fresh water and saving customers an estimated 580 MW of energy, or over $400 million a year in operating costs.
The company has research, development and manufacturing facilities in the San Francisco technology corridor as well as direct sales offices and technical support centers in key desalination hubs such as Madrid, UAE, Shanghai and Florida; including service representatives in Algeria, Australia, China, India, Korea, Mexico, Taiwan and the Caribbean.
As the demand for clean, potable water increases; ERI is poised to face the global challenges ahead. For more information on ERI and PX technology, please visit our web site at http://www.energyrecovery.com.
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