Highlights:
- Energy Recovery’s newly released ESG report discloses nearly $4 billion saved in energy costs and 14.5 million metric tons of emissions avoided annually for its customers.
- The company’s pressure exchanger (PX) technology makes sustainable practices more economical, eliminating the difficult decision of “sustainability vs. bottom line” in critical industries such as desalination, industrial wastewater treatment, and CO2 refrigeration.
- Sustainability and resilience are built into Energy Recovery’s strategy for growth, influencing the company’s approach to innovation and workforce development.
SAN LEANDRO, Calif. – Sept. 13 , 2022 – Energy Recovery, Inc. (NASDAQ: ERII), a premier energy recovery device manufacturer, released its annual Environmental, Social, and Governance (ESG) report this week, underscoring the strong connection between the company’s business goals and its sustainability efforts. This ESG report also showcases the company’s commitment to transparency, offering a comprehensive look at progress against its ESG goals.
Energy Recovery uses its PX technology to reduce energy costs and emissions in critical industries such as desalination, industrial wastewater treatment, and CO2 refrigeration. The report features examples of customers’ use of PX technology in various industries, illustrating how PX-based products can help customers adapt to increasingly stringent global environmental regulations while reducing costs.
“By lowering energy consumption for our customers, we’ve been making sustainability affordable since our company’s inception 30 years ago. Even though we’re pleased with our progress to date, we are always looking to improve and are confident in our ability to continue delivering transformational products that improve sustainability and lower costs. Our ESG goals are designed to help us deliver on this vision and are aligned with strategic imperatives for our business, including fostering innovation, workforce development, and reducing climate impacts,” said Robert Mao, Chairman of the Board, President, and Chief Executive Officer of Energy Recovery.
Energy Recovery’s recent entry into the CO2 refrigeration industry demonstrates the company’s focus on enabling sustainable transformation in critical industries. Mr. Mao adds: “The ongoing global transition from climate-damaging hydrofluorocarbon (HFC) refrigerants to sustainable CO2 refrigeration benefits the environment, but it is more expensive to operate. We help to reduce the higher energy consumption and operating costs associated with CO2 refrigeration, making the sustainable choice much easier.”
Other takeaways from the report include:
- Energy Recovery’s ESG goals, set in 2020, are over 90% on track. The goals include both quantitative and qualitative targets relating to Employees, Environmental & Climate Change Risks, Innovation & Opportunity, and Products.
- With its ISO 45001 certification, Energy Recovery is committed to improving safety practices throughout the business.
- This is the first time the company has reported greenhouse gas (GHG) emissions in its ESG report. Since publishing the 2020 report, the company has calculated its scope 1 – 3 GHG emissions for fiscal years 2020 and 2021.
To read the full report, visit https://bit.ly/ESG_EnergyRecovery.
Energy Recovery (NASDAQ: ERII) creates technologies that solve complex challenges for commercial and industrial fluid-flow markets worldwide. Building on our innovative pressure exchanger technology platform, we design and manufacture solutions that make commercial and industrial processes more efficient and sustainable. What began as a game-changing invention for desalination has grown into a global business accelerating the environmental sustainability of customers’ operations in multiple industries. Headquartered in the San Francisco Bay Area, Energy Recovery has manufacturing, research, and development facilities across California and Texas with sales and on-site technical support available globally. To learn more, visit https://energyrecovery.com/.