Energy Recovery Announces Leadership Transition

Energy Recovery, Inc. (Nasdaq: ERII) today announced Mr. David Moon, a current member of the Energy Recovery Board of Directors, has been appointed interim Chief Executive Officer, effective immediately. Mr. Bob Mao will remain a member of the Board, and Ms. Pamela Tondreau, current Lead Independent Director, has been elected as the new Chairperson of the Board. A comprehensive search process to identify a permanent President and Chief Executive Officer, which includes internal and external candidates, has been underway with the assistance of a leading executive search firm.

"The Board has firm conviction in Energy Recovery’s long-term potential and is confident Mr. Moon is the right leader for this moment of transition, alongside the rest of the management team,” said Ms. Tondreau. “The Board will work closely with the management team to ensure this transition is seamless for Energy Recovery’s shareholders, customers, employees, and suppliers.”

Ms. Tondreau continued, “The Board thanks Mr. Mao for his leadership in developing the concept of our PX technology as a platform. This change in leadership reflects the company’s changing needs as we progress into our next phase of growth, scaling the commercialization of our offerings in refrigeration and wastewater treatment.”

“Energy Recovery’s position as a global leader in energy efficiency technology reflects the hard work of our incredible team. I am honored to serve in this role at such an important time for the business, and I look forward to working alongside the Board and our team to help the company reach its full potential,” said Mr. Moon.

Mr. Moon joined Energy Recovery’s Board of Directors in July 2023 and brings with him a wealth of senior leadership experience developing and commercializing technologies with a focus in the heating and cooling industry. Mr. Moon previously served as President of Carrier Commercial Refrigeration (CCR), a division of Carrier Global Corporation. CCR is a leading supplier of high-efficiency CO₂ turnkey refrigeration systems and services to the food retail, processing, and storage segments and pharmaceutical segment in EMEA and Asia. Prior to that, Mr. Moon worked as an Advisor for Ares Management LLC on the acquisition of CoolSys and joined the CoolSys Board of Directors post-acquisition.