SRJ Technologies (ASX:SRJ) has received 2 new contracts — together valued at $225,000 — with US-based companies for the supply of its BoltEx product.
The $15.77 million market capitalisation company’s BoltEx equipment is designed to ensure flange integrity during bolt replacement under pressure and is proven to perform at 1.5 times the design pressure even with all flange bolts removed.
One new US contract is with natural gas and electricity producer and distributor Black Hills Energy Corp (NYSE:BKH) to support the asset integrity management of its US gas distribution network.
The other contract has been secured with Magnolia Torque and Testing for the supply of BoltEx flange clamps to support maintenance work offshore in the Gulf of Mexico.
Magnolia is a maintenance and repair contractor specialising in Flange Management Services, with clients including BP, Shell, Chevro, OXY, and ConocoPhillips.
BoltEx flange clamps will enable both Black Hill and Magnolia to conduct maintenance and repair work while avoiding costly operational outages.
SRJ Technologies Chief Executive Officer (CEO) Alexander Wood says: “I am delighted to announce SRJ’s entrance into the United States utilities and offshore oil and gas markets following the award of 2 contracts with leading operators in the US energy industry.
“These 2 initial contract awards mark a major milestone in SRJ’s strategic outlook as they provide asset reference points to target the USA’s significant addressable market in 2024″
These 2 initial contract awards mark a major milestone in SRJ’s strategic outlook as they provide asset reference points to target the USA’s significant addressable market in 2024.”
SRJ Technologies provides specialised engineering services and containment management solutions, elevating customer integrity management performance.
Images: SRJ Technologies