An interesting IPO which did very well on first day (in bad times). They recover pressure energy back from waste stream to boost the feed seawater, reducing energy consumption of sea-water desalination. Simple concept but very powerful and useful.
This is a good animation of how it works.
http://www.energyrecovery.com/px_technology/ERIPX3DAnimation.mov
Founded in the early 1990s, Energy Recovery develops systems that capture and recycle energy from desalination. The company says that its main product – PX Pressure Exchanger (PX) – conserves up to 98% of the energy.
And, in terms of market coverage, PX systems are installed in over 300 desalination plants. As a result, Energy Recovery's growth rate has been particularly strong. Revenues have gone from $4 million in 2003 to $35.4 million in 2007.
Manoj
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