Matrix Service Wins LNG Peak Shaving Upgrade Project for Large Mid-Atlantic Utility

TULSA, Oklahoma., October 25, 2022 (GLOBE NEWSWIRE) — Matrix Services Company (Nasdaq: MTRX) today announced that its subsidiary, Matrix NAC, has been awarded the engineering, procurement and construction of upgrades to an existing state-of-the-art LNG peak shaving facility that includes a new gas liquefaction system and a vaporization system. This major utility project located in the mid-Atlantic region of WE has been awarded and will be added to the backlog during the second quarter of fiscal 2023.

“With more than 60 years of experience engineering and building cryogenic infrastructure, and our reputation as a leader in LNG peak shaving facilities, this project highlights our capabilities to provide services that improve and extend the life of critical assets such as this,” said Matrix Services Company President and CEO, John R. Hewitt. “We appreciate the trust this long-time customer has placed in Matrix and look forward to completing this job with the highest possible quality, safely, on time and on budget.”

About Matrix Services Company

Matrix Services Company (Nasdaq: MTRX), through its subsidiaries, is a leading North American engineering, construction and industrial maintenance contractor headquartered in Tulsa, Oklahoma with offices located everywhere United States and Canadaas good as Sydney, Australia and Seoul, South Korea.

The Company reports financial results in three key operating segments: Utilities and Power Infrastructure, Industrial Process and Facilities, and Storage and Terminal Solutions.

By focusing on sustainability, creating strong environmental, social and governance (ESG) practices and living our core values, Matrix is ​​ranked among the top contractors by Engineering-News Record, has been recognized for the diversification of its Board of Directors, is an active signatory of the CEO Action for Diversity and Inclusion, and is recognized as a Nice place work®. To learn more about Matrix Services Companyvisit www.matrixservicecompany.com and read our fiscal 2022 sustainability report.

For more information about Matrix, please contact:

Kevin S. CavanahMatrix Services Company
Vice President and Chief Financial Officer
Such. : 918-838-8822
Email: [email protected]
Kelly SmithMatrix Services Company
Senior Director, Investor Relations
Such. : 918-359-8267
Email: [email protected]

This release contains forward-looking statements that are made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are generally accompanied by words such as “anticipate”, “continue”, “expect “, ” provide “. “, “outlook”, “believe”, “estimate”, “should” and “will” and words of similar effect which convey future meaning, relating to the operations of the Company, economic performance and the best judgment of the direction as to what might happen in the future. Future events involve risks and uncertainties that may cause actual results to differ materially from those we currently anticipate. Actual results for current and future periods and other business developments will depend on a number of economic, competitive and other influences, including the factors discussed in the “Risk Factors” and “Forward-Looking Statements” sections. and elsewhere in reports and filings made from time to time with the Security and Exchange Commission. Many of these risks and uncertainties are beyond the Company’s control, and any one of them, or any combination thereof, could have a material and adverse effect on the Company’s results of operations and financial condition. . We assume no obligation to update the information contained in this press release.

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Source: Matrix Services Company

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