Sypris Wins Award for the Gorgon Project in Western Australia

Sypris Technologies, Inc., a subsidiary of Sypris Solutions, Inc. (Nasdaq/GM: SYPR), announced today that it has recently received an award to supply specialty high-pressure closures for use in the Gorgon Project to support the optimization of the existing carbon capture and storage facilities. Shipments under this award are anticipated to be completed by year-end 2024. Terms of the order were not disclosed.

The Gorgon Project is one of the world’s largest natural gas projects. The project is located on Barrow Island, Australia and is comprised of three trains with a combined capacity of 15.6 million tonnes of gas per annum, and a domestic gas plant, according to news sources. This project is expected to be an important pillar of the Australian economy for decades to come. Unlocking this energy is expected to put Australia in a prime position to meet future demand and provide a clean-burning fuel, both at home and overseas.

The project includes CO₂ injection and is poised to reach a significant milestone at its Gorgon LNG facility, injecting and trapping five million tonnes of greenhouse gas (carbon dioxide equivalent, CO₂e) into a giant sandstone formation two kilometers under Barrow Island, since safely starting the system in August 2019, according to news sources. The milestone would represent the largest volume of injection achieved within this timeframe by any environmental carbon capture and storage system of comparable specifications. Injecting five million tonnes of CO₂ is equivalent to taking more than 1.6 million passenger vehicles off Australia’s roads for a year.

Sypris has agreed to manufacture and supply its Tube Turns-branded specialty, high-pressure Tool-less closures for use on the filtration systems for the project. These closures will be 44 inches in diameter, will be rated to a pressure of 710 psi and include full wetted surface overlay with Inconel Alloy 625, a nickel-based superalloy that possesses high strength properties and resistance to elevated temperatures.

Brett Keener, General Manager, commented, "Sypris continues to be a leader in supplying high-pressure specialty closures to support energy projects globally. By leveraging our extensive engineering design and manufacturing expertise, we believe we are uniquely qualified to support these types of demanding requirements. We are proud to be a part of a project with a goal to help provide clean, reliable energy and reduce the world’s carbon footprint."