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Infrastructure

Desalination IPO On Deck: Energy Recovery (ERII)

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By Douglas A. McIntyre Published
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A company called Energy Recovery, Inc. is set to come public via an initial public offering this week. If pricing does not occur tonight or in the wee hours of Wednesday morning then the offering might have to sit and wait until next week. Assuming we actually get the pricing on a holiday shortened week, the last data we saw on this was a 14 million share IPO with a range of $7.00 to $9.00 per share.

While this sounds like an oil well play, the company is actually a desalination play that turns salt water into fresh water.  The company is a developer and manufacturer of efficient energy recovery devices utilized in the rapidly growing water desalination industry.  It operates primarily in the sea water reverse osmosis segment of the industry.

The deal is set to come from Citigroup and Credit Suisse and will trade under the "ERII" stock ticker on NASDAQ.

Jon C. Ogg
July 1, 2008

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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