Energy Recovery Buys Pump Engineering
Energy Recovery Inc. (Nasdaq: ERII) has acquired Pump Engineering LLC, a New Boston, Mich.-based provider of centrifugal turbine energy-saving technology for seawater and brackish desalination applications. The deal is valued at approximately $26.7 million, including $20 million in cash and one million shares of Energy Recovery common stock. Pump Engineering raised an undisclosed amount of VC funding earlier this year from Plymouth Venture Partners.
30 December 2009•2 mins read
