Energy Recovery Inc (NASDAQ:ERII), a leader in the design and development of energy recovery devices for desalination and other industrial processes, today announced the hire of seasoned oil and gas expert Ismail Nawaz as its Vice President, Oil & Gas Product Development. With over 25 years of experience at Schlumberger, Nawaz will bring his extensive expertise in product development and commercialization to lead ERI’s planned expansion strategy into the oil and gas market.
An oil and gas industry veteran, Nawaz joins ERI as the company looks to build on its strong position in the desalination market to refine products and applications for new, large addressable markets. ERI technologies serve to repurpose pressure energy that is otherwise lost in high-pressure fluid applications, and the oil and gas market represents a compelling new business opportunity. The company anticipates that Nawaz’s unique skills in management, product development, and market development will accelerate ERI’s penetration into the oil and gas market and help establish it as a leader in energy recovery for this new market.
“During his 25-year tenure at Schlumberger, Nawaz developed invaluable global experience in launching innovative products for oil and gas applications. He represents an ideal fit to lead development in this critical strategic market,” said Thomas S. Rooney, chief executive officer, ERI. “We are very pleased to have him join ERI at this important phase of the company’s growth.”
An MBA graduate of the MIT Sloan School of Management and a B.S. graduate of the University of Engineering in Lahore, Pakistan, Nawaz’s 25 years of experience with Schlumberger in the oil and gas industry have taken him to numerous destinations across the globe. Starting in 1985 as a field engineer, he has held various positions in the Middle East, Latin America, North America and Europe. Most recently, Nawaz was Global Product Line Manager, Intelligent Completions, where he was responsible for leading a business team to develop new products to take to market that address market gaps. “ERI’s impressive track record for creating energy recovery devices for the desalination industry makes the company well-positioned to exploit a significant new market opportunity,” said Nawaz. “I look forward to contributing my experience, guiding the company towards success as it begins developing and refining products for the global oil and gas markets.”