Energy recovery announces new share repurchase program

San leandro, calif.--(business wire)--energy recovery, inc. (nasdaq: erii) today announced its board of directors approved a share repurchase program to purchase up to $30 million of the company's outstanding common stock over the next 12 months, beginning in february 2025. the new program is in addition to a $50 million share repurchase program announced in november and completed in q4 2024. under the previous program, the company repurchased 3.2 million shares for an average price of $15.39 p.
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