Energy Recovery Establishes Corporate Emissions Reduction Target; Surpasses $5.9 Billion in Energy Savings for Customers According to Latest Sustainability Report
SAN LEANDRO, Calif.--(BUSINESS WIRE)-- Energy Recovery, Inc. (NASDAQ: ERII), a trusted global leader in energy efficiency technology, today released its fourth annual Sustainability Report, underscoring the strong connection between the company’s business goals and its sustainability efforts. Energy Recovery has set its first corporate emissions reduction target, committing to reduce its emissions in relation to revenue by 65% by 2026 from a 2021 baseline.
“Energy Recovery’s role in helping our customers achieve reliable, sustainable operations is a source of pride for my team and me,” said Robert Mao, Chairman of the Board, President, and Chief Executive Officer of Energy Recovery. “With our sustainability strategy in place, we are well-positioned to be resilient in a changing world and ensuring a stable foundation for growth.”
Energy Recovery’s pressure exchanger (PX) technology reduces energy costs and emissions in several critical industries, including desalination, wastewater treatment, and CO2 refrigeration. According to the report, the company helps its customers prevent 17.2 million metric tons of carbon emissions from entering the atmosphere every year, while saving $5.9 billion in energy expenses for customers. Energy Recovery’s PX is a key enabler of the transition to more sustainable forms of refrigeration, water production, and wastewater treatment.
Steps to embed sustainability and safety into its business strategy have improved Energy Recovery’s operations, including certification for a second year in a row as a Great Place to Work. Other takeaways from the report include:
- All Energy Recovery’s sustainability goals set in 2020 have either been achieved, are on track, or are demonstrating progress.
- Energy Recovery’s Environmental Management System (EMS) was certified to the internationally recognized ISO 14001 standard at the end of 2022.
- Per its goal to fully align with the recommendations of the Task Force on Climate-related Financial Disclosures by the end of 2024, the company is currently working to conduct a rigorous assessment of its climate-related business risks and opportunities. This will serve to better understand any potential impacts and realign the company’s future approach accordingly.
To download and read the full report, visit the new Sustainability landing page at: https://energyrecovery.com/sustainability
About Energy Recovery
Energy Recovery (NASDAQ: ERII) is a trusted global leader in energy efficiency technology. Building on our pressure exchanger technology platform, we design and manufacture reliable, high-performance solutions that generate cost savings and increase energy efficiency across several industries. With a strong foundation in the desalination industry, Energy Recovery has delivered transformative solutions that optimize operations and deliver positive environmental impact to our customers worldwide for more than 30 years. Headquartered in the San Francisco Bay Area, Energy Recovery has manufacturing and research and development facilities across California and Texas with sales and on-site technical support available globally. For more information, please visit www.energyrecovery.com.
Forward Looking Statements
Certain matters discussed in this press release are "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 are based on information currently available to us and on management's beliefs, assumptions, estimates, or projections and are not guarantees of future events or results. Potential risks and uncertainties and any other factors that may have been discussed herein regarding the risks and uncertainties of the Company's business, and the risks discussed under "Risk Factors" in the Company's Form 10-K filed with the U.S. Securities and Exchange Commission ("SEC") for the year ended December 31, 2022 as well as other reports filed by the Company with the SEC from time to time. Because such forward-looking statements involve risks and uncertainties, the Company's actual results may differ materially from the predictions in these forward-looking statements. All forward-looking statements are made as of today, and the Company assumes no obligation to update such statements.
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Source: Energy Recovery, Inc.
Released September 12, 2023