Energy Recovery, Inc.

Greetings. Welcome to the Energy Recovery 3Q 2023 earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the phone presentation. If anyone should require operator assistance during a conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to your host, James Sicardi, Vice President of Investor Relations. You may begin.

Hello, everyone, and welcome to Energy Recovery's 2023 Third Quarter Earnings Conference Call. My name is Jim Sicardi, Vice President of Investor Relations at Energy Recovery, and I'm here today with our Chairperson of the Board, Pamela Pondreau, Interim President and Chief Executive Officer, David Moon, and our Chief Financial Officer, Joshua Ballard. During today's call, we may make projections and other forward-looking statements under the Safe Harbor provisions contained in the Private Securities Litigation Reform Act of 1995 Regarding future events or the future financial performance of the company, these statements may discuss our business, economic and market outlook, growth expectations, new products and their performance, cost structure, and business strategy. Forelooking statements are based on information currently available to us and on management's beliefs, assumptions, estimates, or projections. Forelooking statements are not guarantees of future performance and are subject to certain risks, uncertainties, and other factors. We refer you to documents the company files from time to time with the SEC, specifically the company's Form 10-K and Form 10-Q. These documents identify important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. All statements made during this call are made only as of today, November 1st, 2023, and the company expressly disclaims any intent or obligation to update any forward-looking statements made during this call to reflect subsequent events or circumstances, unless otherwise required by law. At this point, I will turn the call over to our chairperson, Pamela Condrell.

Thank you, Jim, and thank you everyone for joining us today. Last Tuesday, October 24th, my fellow directors and I appointed David Moon as Interim Chief Executive Officer of Energy Recovery. Bob Mel will remain a member of the board, and I want to thank him for his many contributions advancing our business. Over the last several years, we have introduced our PXG and created a tremendous opportunity in CO2, built an established and growing business in wastewater, and launched a family of new products to grow that business. We continued to innovate within the desalinization industry with our Q400 and the highest efficiency energy recovery device in the world. The board and I understand and clearly see the opportunity to not only accelerate growth in our existing three markets, but also to expand the PX beyond these markets in the coming years. We're pleased that David agreed to join management as interim president and CEO during this time. David is a seasoned leader in both his previous experience as president, of Carrier Commercial Refrigeration, a division of Carrier Global Corporation, as well as its history of developing and commercializing technological capabilities, provide important insight and perspective while in this role. Our goal is to ensure that this transition period is not only smooth and without operational disruption, but will also allow us to continue along our growth path. I want to be clear. There are no underlying concerns about the business or its strategy. As mentioned in the press release, we have begun the CEO search process and hope to fill the role permanently in the near term. The search committee includes two of Energy Recovery's newest members, Colin Sable and David Moon, who both bring a key operational focus to the business. And we are even now speaking with a number of qualified candidates. With that, it is my pleasure to turn the call over to David Moon.