Young Entrepreneur Of The Year(R) 2010 Award Finalist in Northern
SAN LEANDRO, Calif., May 20, 2010 (BUSINESS WIRE) --Energy Recovery Inc (NASDAQ:ERII), a leader in the design and development of energy recovery devices for desalination, today announced that Hans Peter "H.P." Michelet, executive chairman of Energy Recovery's board of directors, has been named as a finalist for the Ernst & Young Entrepreneur Of The Year(R) 2010 Award in Northern California. A serial entrepreneur and investor with considerable success founding and developing a variety of multi-national organizations, H.P. Michelet has been intrinsically involved in most of Energy Recovery's strategic decisions and initiatives since 1994.
According to Ernst & Young LLP, the awards program recognizes entrepreneurs who demonstrate extraordinary success in the areas of innovation, financial performance and personal commitment to their businesses and communities. H.P. Michelet was selected as a finalist from more than 100 nominations by a panel of independent judges. Award recipients will be announced at a special gala event on June 12, 2010 at the San Jose Fairmont Hotel.
"It is a great honor to be selected by Ernst & Young as a finalist for the prestigious Entrepreneur Of The Year 2010 Award in Northern California," said Michelet. "To be acknowledged is a testament to the various companies and people with whom I have collaborated. This is especially true at Energy Recovery Inc, where the devoted, brilliant team has been integral to the sustained success the company has enjoyed as the definitive leader in global desalination energy recovery solutions."
A board member since 1995 and chairman since September 2004, Michelet has helped position Energy Recovery as the world's leading manufacturer of energy recovery devices used in seawater reverse osmosis (SWRO) desalination plants to help address global water scarcity. Energy Recovery's PX(TM) 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 900 MW of energy and reducing CO2 emissions by more than 4.7 million tons per year worldwide. More than 10,000 of Energy Recovery's solutions 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(TM) technology, visit http://www.energyrecovery.com or send an email to firstname.lastname@example.org.
The Ernst & Young Entrepreneur Of The Year awards program celebrates its 24th anniversary this year. The program has expanded to recognize business leaders in over 135 cities in 50 countries throughout the world. Regional award winners are eligible for consideration for the Ernst & Young LLP Entrepreneur Of The Year national program. Award recipients in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year award recipient, will be announced at the annual awards gala in Palm Springs, California on November 13, 2010. The awards are the culminating event of the Ernst & Young Strategic Growth Forum, the nation's most prestigious gathering of high-growth, market-leading companies.
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year awards are pleased to have the Ewing Marion Kauffman Foundation and SAP America as national sponsors.
In Northern California, sponsors include The Big Picture Film & Video Arts Inc., Manpower, Smart Business, Scherzer International and The Summit Group.
About Energy Recovery Inc
Energy Recovery Inc (NASDAQ:ERII) designs and develops energy recovery devices that help make desalination affordable by significantly reducing energy consumption. Energy Recovery technologies include the PX Pressure Exchanger(TM) (PX(TM)) device for desalination and the Turbocharger hydraulic turbine energy recovery device and pumps for desalination, gas and liquid processing applications. In total, Energy Recovery helps reduce CO2 emissions by more than 4.7 million tons per year and produce 1.6 billion gallons of potable water per day. The company is headquartered in the San Francisco Bay Area with offices in Detroit and in key desalination centers worldwide, including Madrid, Shanghai and the United Arab Emirates. For more information about Energy Recovery Inc, please visit www.energyrecovery.com.
About Ernst & Young's Entrepreneur Of The Year(R) Awards Program
Ernst & Young's Entrepreneur Of The Year(R) is the world's most prestigious business award for entrepreneurs. The award makes a difference through the unique way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Ernst & Young Entrepreneur Of The Year(R) celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited located in the U.S.
SOURCE: Energy Recovery Inc
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