Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
>>> Texas Pacific Land Corporation (TPL) engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.
The Land and Resource Management segment manages surface acres of land, and oil and gas royalty interest in West Texas. This segment also engages in easements, such as transporting oil, gas and related hydrocarbons, power line and utility, and subsurface wellbore easements. In addition, this segment leases its land for processing, storage, and compression facilities and roads; and is involved in sale of materials, such as caliche, sand, and other material, as well as sells land.
The Water Services and Operations segment provides full-service water offerings, including water sourcing, produced-water treatment, infrastructure development, and disposal solutions to operators in the Permian Basin. This segment also holds produced water royalties. Texas Pacific Land Corporation was founded in 1888 and is headquartered in Dallas, Texas.
<<<
https://finance.yahoo.com/quote/TPL/profile/
---
>>> Badger Meter, Inc. (BMI) manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.
In addition, the company offers ORION Cellular endpoints to power network as a service; ORION mobile read endpoints support for deploying AMR solution; radio products; hardware, instruments, and sensors, and related software, to enhance connected data to a water utility's operation; water quality monitoring solutions, including optical sensing and electrochemical instruments; and high frequency pressure and leak detection sensors to aid in burst pipe and leak events; as well as BEACON, a secure cloud-hosted software suite that establishes alerts for specific conditions and allows consumer engagement tools that permit end water customers to view and manage their water usage activity. Its flow instrumentation products are used in water/wastewater, heating, ventilating and air conditioning, and corporate sustainability markets.
The company serves water utilities, commercial, and industrial industries; and provides training, project management, technical support, and other collaborative services for customers. It sells its products and software directly, as well as through resellers and representatives. The company was incorporated in 1905 and is based in Milwaukee, Wisconsin.
<<<
https://finance.yahoo.com/quote/BMI/profile/
---
Gates holding - >>> Veralto Corporation (VLTO) provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI).
The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands. This segment provides water solutions, including chemical reagents, services, and digital solutions.
The PQI segment offers inline printing solutions for products and packaging with marking and coding systems; marking and coding for packaged goods and related consumables; design software and imaging systems for the creation of new packaging designs; color management solutions for printed packages and consumer and industrial products; color standard services for the design industry; and a software solution that provides digital asset management, marketing resource management, and product information management. This segment sells its products and services through the Videojet, Linx, Esko, X-Rite, and Pantone brands to regulated industries, including municipal utilities, food and beverage, pharmaceutical, and industrials.
The company was formerly known as DH EAS Holding Corp. and changed its name to Veralto Corporation in February 2023. Veralto Corporation was incorporated in 2022 and is headquartered in Waltham, Massachusetts.
<<<
https://finance.yahoo.com/quote/VLTO/profile/
---
BMI, TRNS, WTS - >>> Zacks Industry Outlook Watts Water Technologies, Badger Meter and Transcat
Zacks Equity Research
August 8, 2024
https://finance.yahoo.com/news/zacks-industry-outlook-watts-water-083000714.html
3 Instruments Stocks Set to Ride on Digitized Technology Demand
The Zacks Instruments – Control industry is likely to benefit from the diligent focus on energy-efficient production processes and integrated software systems. Rising demand for state-of-the-art technology for replacing legacy industrial control systems with automated products is expected to aid growth.
However, elevated customer inventory levels amid a challenging geopolitical environment might hurt the process automation and instrumentation market. Nevertheless, Watts Water Technologies, Inc., Badger Meter, Inc. and Transcat, Inc. are likely to gain from high digitized technology demand, greater emphasis on energy efficiency, focus on cost-reduction initiatives and broad-based endorsement of industrial automation and optimum resource utilization.
Industry Description
The Zacks Instruments – Control industry comprises manufacturers of precision and specialty motion-control components and systems used in a wide range of industries. These companies deliver sophisticated flow measurement, control and communication solutions for air, water and other forms of gas and liquid used for commercial and residential purposes. The companies offer an array of products for fuel, combustion, fluid, actuation, electronic applications, energy control and optimization, particularly for the process industry. Some industry players offer heating, ventilation and air conditioning products. These include water heaters and electric heating systems for under-floor radiant applications for boiler manufacturers and alternative energy control packages. Few firms provide water reuse products, consisting of drainage and rainwater harvesting solutions.
What's Shaping the Future of Instruments - Control Industry
Thrust on Industrial Automation: Greater focus on increased adoption of automation across all industry verticals and higher investments in new technologies are expected to drive growth over the next few years. North America is expected to continue dominating the market in terms of adopting automation. Rising infrastructural investments in the energy and power sector, increasing demand for organic food and nutritional beverages, and favorable government policies are aiding growth. The pharmaceutical industry's process automation and instrumentation market is also growing due to low-cost factors and an evolving regulatory environment. Focus on high-quality equipment indicates progressive buyer maturity and willingness to partner with process control industry players.
Solid Traction From Green Fuels: The industry participants are increasingly gaining traction from solid demand for power generation, especially in Asia, and continued requirement for backup power for data centers. Higher demand across transportation and power generation markets, especially on-highway natural gas truck business in China, has led to healthy growth momentum. In addition, higher demand for alternative fuels across the marine industry and solid impetus in the global marine market brought on by higher utilization and rising shipbuilding rates are likely to be long-term growth drivers.
Margin Woes Persist: Material cost inflation, resulting from constant inflationary pressures, has been affecting industry players’ margins. Transportation costs are also on the rise. Moreover, high raw material prices due to inflation, escalating Middle East tensions, the prolonged Russia-Ukraine war and the consequent economic sanctions against the Putin regime have affected the production schedules of various firms. While the companies are focused on improving their operating performances, the inability to obtain adequate supplies of raw materials and product parts at favorable prices is likely to hurt their businesses. With firms being unable to pass on the entire increase in raw material prices to customers due to stiff competition, profitability is mostly on the wane. The companies primarily operate in markets that are susceptible to high competitive pressures and are under constant threat from low-cost suppliers, primarily based in China. Due to an international footprint, these firms are further exposed to foreign exchange fluctuations that affect their cash flows. Changes in competitive conditions, including the availability of the latest products and services, the introduction of distribution channels and changes in OEM and aftermarket pricing, are likely to hamper operations and affect sales for industry participants.
Digitized Technologies at the Core: The industry’s growth is driven mainly by the emphasis on digitized technologies in manufacturing activities, such as the Industrial Internet of Things. The demand for process automation, instrumentation products, safety automation systems and multivariable pressure transmitters for the fast-track manufacturing process is likely to fuel long-term growth opportunities. The use of process instrumentation equipment offers a host of benefits, including improvement in the quality of the product and emission reduction. Therefore, the rapid adoption of technology across various industries and growing regulation and compliance requirements will continue to be major growth drivers. In addition, field instruments play a significant role in process control by measuring the key elements, such as temperature, pressure, flow and level, in process industries such as chemicals, mining and pharmaceuticals. These include transmitters that primarily measure the pressure, flow, temperature, level and humidity of liquids and gases, which are essential for achieving optimum productivity. A differentiated product offering gives greater opportunities for companies to strengthen their market positions.
3 Instruments Control Stocks to Keep an Eye on
Watts Water (WTS) : Headquartered in North Andover, MA, the company designs, manufactures and sells various water safety and flow control products to promote safety, energy efficiency and water conservation for commercial and residential buildings. It is benefiting from aggressive cost-reduction actions, along with a strong balance sheet. It is focused on enhancing organic growth, driving margin expansion and reinvesting in productivity initiatives. Watts Water aims to launch smart and connected products, which are likely to provide it with further differentiation in the marketplace. This Zacks Rank #3 (Hold) stock has a VGM Score of B. It has a long-term earnings growth expectation of 8% and delivered an earnings surprise of 11.7%, on average, in the trailing four quarters. The Zacks Consensus Estimate for current and next-year earnings has been revised 10.3% and 6.6% upward, respectively, over the past year.
Badger Meter (BMI) : Headquartered in Milwaukee, WI, the company provides flow measurement, control and communications solutions, serving water and gas utilities, municipalities and industrial customers worldwide. Its products measure water, oil, chemicals and other fluids, and are known for accuracy, long-lasting durability and providing valuable and timely measurement data. With its industry-leading ORION Cellular endpoints, along with communication and software technologies, Badger Meter is focused on creating robust digital solutions to operationalize real-time data into actionable insights. Its BEACON software-as-a-service offering facilitates the collection and analysis of data within the distribution network to improve operational awareness. The Zacks Consensus Estimate for current and next-year earnings for the stock has been revised 31% and 36.1% upward, respectively, over the past year. The stock has gained 14.5% in the past year. It has a long-term earnings growth expectation of 17.9% and delivered an earnings surprise of 12.9%, on average, in the trailing four quarters. Badger Meter sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Transcat (TRNS): Headquartered in Rochester, NY, Transcat is a leading provider of accredited calibration, repair, inspection and laboratory instrument services. It is focused on providing best-in-class services and products to pharmaceutical, biotechnology, medical device and other FDA-regulated businesses, aerospace and defense, and energy and utilities. The buyouts of Complete Calibrations provide Transcat with a local calibration presence to support the robust and growing life science market in Ireland, while the acquisition of Cleveland, OH-based e2b Calibration will likely help it strengthen its presence across the United States and Canada. The stock has gained 21.8% over the past year. It delivered an earnings surprise of 33.3%, on average, in the trailing four quarters and currently carries a Zacks Rank #2 (Buy).
<<<
---
MIT discovery --> Photo-Molecular Effect - could revolutionize water desalination -
>>> Why Badger Meter Stock Is Off the Charts Today
by Rich Smith
Motley Fool
Apr 18, 2024
https://finance.yahoo.com/news/why-badger-meter-stock-off-154259846.html
Shares of water measurer Badger Meter (NYSE: BMI) jumped 12% through 11:15 a.m. ET Thursday after exceeding expectations with its Q1 2024 earnings report this morning.
Analysts had forecast Badger Meter would earn $0.82 per share on sales of $182.3 million -- but Badger beat those numbers with a stick. Badger's earnings for the quarter came within a whisker of $1 a share -- $0.99 -- and sales were $196.3 million.
Badger Meter Q1 sales and earnings
Badger Meter scored wins across the board this morning, growing sales 23% year over year, expanding its operating profit margin by 290 basis points to 18.6%, and growing its net income a whopping 50%. CEO Kenneth Bockhorst credited both "robust customer demand" and "operating execution" for the "exceptional" results.
Sales growth among water utility customers was particularly strong, up 29% -- continuing a yearlong trend of 30%-ish sales growth in this sector. This suggests that America's long-delayed project to improve water infrastructure is now well underway.
Is Badger Meter stock a buy in 2024?
There are pluses and minuses in this for Badger Meter investors. On the one hand, Bockhorst notes that Badger Meter will face "more difficult prior-year comparisons as the year progresses" in 2024. On the other hand, though, he agrees that the water industry is currently enjoying a "resilient macro trend" that should "drive sales and earnings growth."
My big worry as an investor: Continuation of this trend could already be baked into the stock's price. While 50% Q1 earnings growth was certainly impressive, Badger stock also trades at a very impressive price-to-earnings ratio of 48. That's a fair price to pay if growth keeps going at its present pace, and Badger's share price surge today is certainly justified by the news.
But if growth slows at all, Badger investors could find themselves caught in a trap. Caveat investor.
<<<
---
>>> Veralto Corporation (VLTO) provides technology solutions that monitor, enhance, and protect resources worldwide. Its technologies address challenges across regulated industries, including municipal utilities, food and beverage, pharmaceutical, and industrials. The company core offerings include water analytics, water treatment, marking and coding, and packaging and color. It operates through two segments Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment improves the quality and reliability of water through brands, including Hach, Trojan Technologies, and ChemTreat. The PQI segment promotes consumer trust in products and help enable product innovation through brands, such as Videojet, Linx, Esko, X-Rite, and Pantone. Veralto Corporation was formerly known as DH EAS Holding Corp. and changed its name to Veralto Corporation on February 22, 2023. The company was incorporated in 2022 and is based in Waltham, Massachusetts. Veralto Corporation operates as a subsidiary of Danaher Corporation.
<<<
---
>>> Harris announces $5.8 billion for water infrastructure projects, says clean water is a right
Associated Press
2-20-24
https://www.msn.com/en-us/news/politics/white-house-is-distributing-5-8-billion-from-the-infrastructure-law-for-water-projects/ar-BB1iz9Eq?OCID=ansmsnnews11
WASHINGTON (AP) — The Biden administration announced Tuesday that states will share $5.8 billion in federal funds for water infrastructure projects around the country, paid for by one of its key legislative victories.
The new round of funding will help pay for projects nationwide, bringing the total awarded to states for water infrastructure improvements to $22 billion. The money comes from the $1 trillion bipartisan infrastructure law that President Joe Biden signed in 2021, according to the White House.
Vice President Kamala Harris, who traveled to Pittsburgh to make the announcement, said everyone in the U.S. should be able to have clean water.
“I shouldn't have to say that, but it does come down to that,” Harris said. "Every person should have a right and the ability to have access to clean water, and it should not matter where you live or how much money you earn or how much money you got in your back pocket,” she said.
Harris said more than $200 million of the new federal funding will go to Pennsylvania, one of several states that will help determine whether Biden is reelected in November. The money will go toward replacing lead pipes and aging water mains and storm drains, she said.
The infrastructure law includes over $50 billion to upgrade America’s water infrastructure and is touted by the Biden administration as the largest investment in clean water in U.S. history.
The White House said Tuesday's announcement includes $3.2 billion for what's known as the Drinking Water State Revolving Fund that can be used for upgrades to water treatment plants, water distribution and piping systems, and lead pipe replacement. It also includes $1 billion for seven major rural water projects and $1 billion in support for Great Lakes drinking water projects.
<<<
---
>>> Why Badger Meter Stock Slumped 5 Percent Today
Motley Fool
By Rich Smith
Sep 29, 2023
https://www.fool.com/investing/2023/09/29/why-badger-meter-stock-slumped-5-percent-today/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article
KEY POINTS
Badger Meter announced its earnings date yesterday.
This morning, investment bank Northcoast responded by downgrading the stock.
It's run up 68% in 52 weeks, but Northcoast says it's time to sell Badger Meter stock.
What happened
Badger Meter (BMI) stock slumped 5.6% through 10:25 a.m. ET this morning after receiving a downgrade to sell from investment bank Northcoast.
According to the analyst, Badger Meter stock, which cost more than $155 a share just last night, is likely to lose 23% of its value and fall to $120 per share within a year.
So what
So why exactly did Northcoast downgrade Badger Meter stock? That's hard to say. Although two separate ratings watchers -- StreetInsider and TheFly -- confirm that the downgrade happened, neither reporter gave any further details on Northcoast's reasoning. But I think we can guess.
It seems reasonable to assume that the catalyst sparking the downgrade came when Badger Meter announced yesterday that it will report third-quarter earnings on Thursday, Oct. 19 -- and that the analyst is worried Badger Meter might disappoint.
Now what
That's not an unreasonable fear. Over the past 52 weeks, shares of this provider of water metering equipment have rocketed 68%, lifted by strong sales and earnings growth (up 28% and 33%, respectively, in the most recent quarter).
That sounds like good news -- and it is. Furthermore, analysts who follow the stock are predicting even more good news in Q3, where the stock is expected to report 21% sales growth (to more than $179 million) and another quarter of 33% earnings growth (to $0.81) per share.
That being said, these are very optimistic targets being set for the company, and if Badger Meter fails to hit them, the stock could fall hard. At last report, Badger Meter shares were selling for nearly 60 times earnings. But with earnings growth projected to slow over time to average about 15% annually over the next five years, this leaves the stock trading for a rather optimistic price/earnings-to-growth (PEG) ratio of nearly 4 -- quite expensive for any manufacturer, even one as successful as Badger Meter has been lately.
Even if you think the risk of Badger Meter underperforming next month is small, Northcoast's sell rating serves as a reminder: Sometimes it's best to take your winnings and declare victory, rather than roll the dice one more time on a stock that has already gone up quite a lot.
<<<
---
Desalination - >>> Drought-struck Barcelona quenches thirst with costly desalination
San Diego Union Tribune
by JOSEPH WILSON
5-29-23
https://www.msn.com/en-us/weather/topstories/drought-struck-barcelona-quenches-thirst-with-costly-desalination/ar-AA1bOSNf?OCID=ansmsnnews11
Where once the population of Barcelona drank mostly from its rivers and wells, Spain’s second city now relies upon a labyrinth-like mesh of green, blue and purple pipes inside an industrial plant to keep it from going thirsty amid a prolonged drought.
Water is pumped from two kilometers (1.2 miles) into the Mediterranean Sea to where the Llobregat desalination plant sits on an isolated stretch of beach. After journeying through several cleaning and filtering systems it reaches its final stop: the twisting and turning multi-colored channels that squeeze every drop of water free of its salt.
Barely used after being built in 2009, Europe’s largest desalination plant for drinking water is running at full throttle to help the greater Barcelona area and some five million people adapt to the impact of climate change, which has contributed to the drying up of southern Europe's fresh water reserves through heat waves and drought.
In April 2021, before the drought, rivers provided 63% of Barcelona’s drinking water, wells provided 34% and desalination just 3%. Two years later desalination makes up 33% of Barcelona’s drinking water, while wells provide 23% and its shrinking rivers just 19%, according to Barcelona’s municipal water company.
With the reservoirs fed by Catalonia’s northern river basins at just 25% capacity, limits have been placed on the amount of water available for agriculture, industry and some municipal uses. But authorities have not had to take drastic action like during the 2006-2008 drought when tanker vessels shipped in drinking water.
“We knew that sooner or later a drought would come,” Carlos Miguel, plant manager, told The Associated Press during a recent visit to the Llobregat plant.
“As long as the drought continues the plant will keep running. That is clear.”
While the building of the Llobregat plant is the result of authorities heeding warnings from climate experts and planning ahead, it comes at high economic and environmental costs.
In the desalination process at the Llobregat plant, for every 0.45 liters of fresh water, around 0.55 liters of extremely salty brine is produced as waste. The reverse osmosis process, where high pressure forces seawater through membranes which separates the salt, also requires a lot of energy that doesn't yet come entirely from renewable energy sources.
The Mediterranean region is heating up at a faster rate than many other areas of the globe, leading to a record-hot 2022 in Spain and a widespread drought that is hurting agriculture. The lack of water is particularly acute in northeast Catalonia, whose water agency forecasts that its water resources will shrink by 18% before 2050.
Water authorities predict that the Barcelona area is heading for an official “drought emergency”, which will imply tighter restrictions, by September.
“We forecast that for the rest of May rainfall will be above average, but that does not make up for 32 months of drought,” Samuel Reyes, head of the Catalan Water Agency, said recently.
Desalination has formed a key part of Spain’s water policy for over half a century. The island of Lanzarote in Spain’s Canary Islands archipelago installed Europe’s first desalination plant back in 1964, and the industry has kept growing in the southern European country prone to long, dry summers. The development and spread of the reverse osmosis technique in the 1980s and 90s, along with reduced costs, led to its buildout across many areas of mainland Spain.
Spain is now fourth in the world for its desalination capacity, about 5% of the global total, behind Saudi Arabia, the United States and the United Arab Emirates, according to the Spanish Association of Desalination and Water Re-utilization. Desalination capacity has steadily gone up worldwide in the past decade, with the technology seeing a bigger uptick in Europe and Africa.
Spain has some 800 desalination plants that can produce 5 million cubic liters a day of water for drinking, agriculture, and industry. If that were dedicated solely for human consumption, it would quench the thirst of 34 million people — over 70% of Spain's population.
As part of a 2.2-billion euro ($2.4-billion) drought response package, Spain's national government said this week that it was setting aside 220 million euros ($238 million) to expand another desalination plant north of Barcelona, plus another 200 million euros ($216 million) for a plant on Spain's southern coast. It also pledged to spend 224 million euros ($242 million) on improving water purification systems in southern Spain.
This small miracle of scientific innovation, however, includes even more costs.
According to the public company that runs the Llobregat plant, a thousand liters of desalinated water costs 0.70 euros to produce, compared to 0.20 euros for the same quantity of water pulled from the Llobregat river and purified for drinking. That means a heavier tax burden and, possibly, higher water bills.
Xavier Sánchez-Vila, professor of civil engineering and groundwater expert for the Universitat Politecnica de Catalunya, said that while desalination plants like the one in Barcelona have provided a lifeline in a time of crisis, authorities should continue to diversify their strategies and focus on improving water purification and reuse.
“Of course, with climate change we know that droughts are going to be more frequent and therefore there is this need (for desalination)," he said. “But in economic terms, I am not completely sure whether it makes sense to keep building them. A few more maybe, but knowing that these are a really expensive solution.”
Instead, Sánchez-Vila applauds the boost in Barcelona's use of treated sewage water in a separate treatment plant sitting next to the Llobregat desalination facility. This treated water that is reintroduced upstream and then available to be pulled back into the city’s supply now accounts for 25% of Barcelona’s water.
The more pressing problem for the planet is the energy-intensive processes involved in desalination.
Spain generated 42% of its electricity from renewable energy sources in 2022 and it hopes to reach 50% this year, but it still uses large amounts of planet-warming natural gas. The electricity generated by the solar panels on the Llobregat plant goes into the electrical grid, not directly to the site's operations.
Julio Barea, water expert for Greenpeace in Spain, insists that desalination is not a panacea.
Barea cited the steady increase of water use in Spain over past decades to support two of the country’s economic pillars: agriculture and tourism. Some 80% of Spain’s water goes to agriculture, Greenpeace calculates, while coastal areas including Barcelona are huge tourist magnets, many offering hotels with swimming pools that need filling. Soon-to-be implemented water restrictions in Catalonia will prohibit the filling of private pools, while hotels will still be able to fill theirs.
And then there is the impact of dumping the brine waste product into the sea, where its super salty load can hurt the ecosystem.
“(Authorities) have to provide drinking water for people, but desalination plants have an impact because they are essentially water factories that need a lot of energy,“ Barea said. "It should be a last resource, and we should ask ourselves how we have gotten into this situation."
<<<
---
>>> Energy Recovery Generates Soaring Profits On Environmental Expertise; Growth Stock Acts Well
Investor's Business Daily
by STEVEN BELL
03/09/2023
https://www.investors.com/stock-lists/stock-spotlight/energy-recovery-generates-soaring-profits-on-environmental-expertise-growth-stock-acts-well/?src=A00220
There are many companies that boast about their environmental track record, though few have delivered meaningful changes. Growth stock Energy Recovery (ERII) is an exception and has earned its way into IBD Stock Spotlight amid soaring profits.
The company — headquartered in San Leandro, Calif. — specializes in the production of water desalination devices, wastewater treatment systems and CO2 reduction systems used in refrigeration.
Water security and access to clean water are long-term problems that are projected to get worse as water basins dwindle and climate change results in less predictable weather and longer droughts.
Nevertheless one needs to look no further than company earnings to see growth in these industries is occurring now.
Growth Stock Reports Solid Fourth-Quarter Profits
Energy Recovery reported fourth-quarter results on Feb. 22. As demand for desalination devices took off, earnings came in at 24 cents per share, up 167%, amid record revenue of $42.3 million. Growth has been impressive, with earnings for the quarter alone matching the full-year EPS in 2021.
While shareholders have been rewarded for strong results, the ride has been bumpy. After the company reported poor third-quarter results Nov. 3, shares dropped over 27% in a single day. This highlights the risk to a company that is largely dependent on a few devices.
Nevertheless, investors can take some solace that the company has been making inroads in its diversification into CO2 reduction devices used in refrigeration.
On Feb. 22, Energy Recovery announced an exclusive distribution agreement with Belgium-based Fieuw Koeltechniek to use CO2 reduction devices in its refrigeration systems.
Newest Desalination Device Unveiled
Energy Recovery also recently unveiled its newest desalination device, the PX Q-400, which is 25% more effective than previous models.
In the longer term, further inroads to reducing the cost of water desalination — which continues to be expensive — is critical for Energy Recovery to maintain its competitive advantage over peers and provide increased viability for water desalination.
Shares of Energy Recovery are forming a cup base with a 26.44 buy point, according to MarketSmith pattern recognition.
<<<
---