Energy Recovery soars 23% after adding Raychem founder to board of directors

Energy Recovery Inc. (Nasdaq:ERII) is trading 23% higher today after the company announced it had added Raychem founder Paul M. Cook to the company’s board of directors. The San Leandro, Calif.-based company makes products for water-desalination operations, and it said Cook was an innovator in aircraft wire, heat shrinkable tubing and circuit products. Energy Recovery debuted last week with its initial public offering at $8.50. The stock is now up to $12.71 at 11:42 ET, about $2.47 higher than Monday’s close. Since its first trading day on July 2, the stock has increased about 16.9%.

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