Matrix Service begins construction – GuruFocus.com

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TULSA, Okla., May 09, 2022 (GLOBE NEWSWIRE) — Matrix Service Company (MTRX) today announced that its subsidiary, Matrix Service Inc. (“Matrix Service”) has begun construction of a boron facility at Small Scale (SSBF) for 5E Advanced Materials, Inc. in Newberry Springs, CA.

“We are excited to advance our SSBF with Matrix Service, a US-listed full-service contractor. This facility, which targets the first production of boron, a key catalyst for decarbonization applications, will serve as the first new source of U.S.-based boron production in more than 50 years,” said Henri Tausch, President and CEO of management of 5E Advanced Materials, Inc. “The SSBF and the ongoing large-scale boron-lithium complex will strengthen U.S. supply as it will provide a new domestic source of materials, critical to the security of U.S. infrastructure for the transition energy and food safety applications.”

The facility is expected to be operational by the end of calendar year 2022 and will enable product sales, additional technology partnerships and pave the way for the development of advanced boron materials.

“As a leading contractor to the advanced materials and chemical industries, we are extremely proud to have been selected by 5E Advanced Materials, Inc. to build this critical infrastructure, which will expand their ability to provide materials to the market. advanced boron solutions,” said John R. Hewitt, President and CEO of Matrix Service Company. “We look forward to further strengthening our relationship with 5E and completing this first phase safely, with the highest quality , on time and on budget.”

About Matrix Service Company

Matrix Service Company (MTRX), through its subsidiaries, is a North American leader in industrial engineering, construction and maintenance. .

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

By emphasizing sustainability, developing 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 CEO Action for Diversity and Inclusion signatory, and is recognized as a Great Place to Work®. To learn more about Matrix Service Company, visit www.matrixservicecompany.com and read our inaugural sustainability report.

For more information about Matrix, please contact:

Kevin S. Cavanah Kelly Smith
Matrix Services Company Matrix Services Company
Vice President and Chief Financial Officer Senior Director, Investor Relations
Such. : 918-838-8822 Such. : 918-359-8267
E-mail: [email protected] E-mail: [email protected]

About 5E Advanced Materials, Inc. 5E Advanced Materials, Inc. (FEAM, Financial) (ASX: 5EA) is positioned to become a vertically integrated global leader in advanced BORON+ materials, with a focus on decarbonization. BORON+ products target high value-added critical applications in the field of electric transport, clean energy, food and homeland security. 5E’s advanced materials business leverages its low-cost, low-environmental-impact boron resource in Southern California, which is designated critical infrastructure by the U.S. government and is the largest new conventional boron deposit. known to the world. 5E’s resource quality, domestic source, and downstream processing capabilities provide a competitive advantage given customer product specifications, resource scarcity, and dependence on one supply. unstable international. There is a growing call for a new stable source of BORON+ as demand in the US and rest of the world accelerates and 5E is strategically positioned to answer that call. We are in the right place, at the right time, with the right asset.

For more information, contact:

Chance Pipitone Investor Relations – United States
[email protected]
Phone: +1 (346) 433-8912

Chris Sullivan, Media
[email protected]
Phone: +1 (917) 902-0617

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 Securities 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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