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Commercial update from SRJ Technologies

Published by , Senior Editor
World Pipelines,

A rapidly growing appetite among capital markets for more sustainable energy solutions, while economies continue to recover from the global health pandemic, has made for an interesting if not challenging backdrop for containment and coupling specialist SRJ Technologies.

Despite numerous external challenges since successfully listing on the Australian Securities Exchange in September, SRJ has gone about strategically implementing its commercial growth plan.

Cornerstone to its growth has been successfully securing new orders with global customers, expanding its national footprint in Australia, increasing development of product inventory and locking down strategic alliances with some of the world’s largest established energy operators.

Recent announcements include agreements with Japan’s US$30 billion infrastructure company Mitsui & Co, FPSO operator MODEC and John Crane, a US subsidiary of diversified multinational Smiths Group.

Progress is also being made with approved partner and local equipment specialist Piping Specialty Supply Service, which is using SRJ products to service its tier-one client base including UGL, Santos, Origin and ConocoPhillips.

While inroads continue to be made, simultaneously the company is working to educate the broader market that its technologies and piping products are a key part of the solution for the rapidly evolving energy transition.

SRJ Chief Executive Officer Alexander Wood says although the company and industry have endured many challenges since listing on the ASX, SRJ is strategically well positioned to be part of the next generation of clean energy and efficiency.

“Industry is transitioning its fuel sources towards more renewable alternatives like hydrogen to create energy efficiency, leading to sustainability and greater emissions abatement,” Mr Wood said.

“We continue to see first-hand just how quickly the appetite is growing among capital markets for renewable energies and pleasingly, our solutions have been developed to be relevant in this space, while also being an ideal solution to safely extend the life of ageing assets.

“Putting the bigger picture to the side for a moment, commercially our priority has remained clear and that is to ensure we deliver against our strategic roadmap, while also growing our revenue and order book.”

SRJ currently has several inventory orders in production which will be distributed to a variety of international clients in the coming weeks, as well as a series of official strategic alliances with multinational partners.

“We’ve treated the global health pandemic as an opportunity to mobilise our products, secure strategic partnerships and then leverage these alliances to tender on new contracts across Australia, Africa, North America and Brazil,” Mr Wood said.

“Given the foundation we’ve developed, we firmly believe our outlook is bullish at a time when commodity prices are strengthening and the global pandemic recovery is building, largely on the back of approved vaccines hitting the market.”

SRJ Technologies provides specialised engineering services and containment management solutions, elevating customers’ integrity management performance.

SRJ sees real value in offering a wider range of asset integrity consulting services helping its customers to better understand the operational risks and where best to focus resource to minimise these risks.

SRJ’s range of industry accredited products are designed to maintain and assure the integrity of pressure containment systems and therefore play an important role in the overall integrity of operating facilities.

Using pre-qualified service providers and manufacturers local to customers, SRJ is location flexible and able to deliver a range of high quality, agile and cost-conscious solutions globally.

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