SRJ Technologies Group (ASX:SRJ) Announcement Highlights

SRJ Technologies Group (ASX:SRJ) has successfully secured two contracts in the United States for the supply of its BoltEx product. The contracts have been awarded to support asset integrity management of the US gas distribution network for Black Hills Energy Corp LLC and to provide maintenance work offshore in the Gulf of Mexico for Magnolia Torque and Testing Inc. These agreements mark SRJ's entry into the US oil and gas markets and have a combined value of AUD$225k (USD$126k).

Executive Commentary from CEO Alexander Wood

I am delighted to announce SRJ's entrance into the United States' utilities and offshore oil and gas markets, following the award of two contracts with leading operators in the US energy industry. These two 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.

Summary of SRJ Technologies Group (ASX:SRJ) Announcement

SRJ Technologies Group (ASX:SRJ) has successfully secured its entrance into the US market with the award of two contracts with Black Hills Energy Corp LLC and Magnolia Torque and Testing Inc. The contracts, valued at AUD$225k (USD$126k) in total, mark a significant milestone in SRJ's strategic outlook, providing reference points for targeting the USA's substantial addressable market in 2024. The contracts will enable SRJ to support asset integrity management of the US gas distribution network and provide maintenance work offshore in the Gulf of Mexico, demonstrating the company's commitment to expanding its presence and offerings in the oil and gas markets. SRJ's BoltEx flange clamps are set to play a crucial role in enabling both companies to undertake maintenance and repair work while avoiding costly operational outages, showcasing the economic value and enhanced safety benefits of using BoltEx for ongoing upkeep of pipework and pipeline systems. The company's successful entry into the US market reflects its strategic ambitions and positions SRJ for potential growth and opportunities in the coming year.