Enterprise Products Awards Matrix Service EPC For A Second Ethane Storage Tank Along The Texas Gulf Coast

TULSA, Okla., March 29, 2023 (GLOBE NEWSWIRE) -- Matrix Service Company (Nasdaq: MTRX) announced today its subsidiary, Matrix Service, has been awarded the greenfield engineering, procurement, and construction of a second 600,000-barrel cryogenic ethane storage tank for a subsidiary of Enterprise Products Partners L.P. along the Texas Gulf Coast. The project, which was taken into Matrix’s backlog in the second quarter of Fiscal 2023, supports a continued demand for ethane in the global marketplace. Engineering for the storage tank will be completed by Matrix PDM Engineering.

“We value our long-standing relationship with Enterprise and appreciate their trust and confidence in us to engineer and construct this critical infrastructure,” Matrix Service Company President and CEO John R. Hewitt. “The global need for ethane continues to account for an increasing share of total U.S. production for its value as a petrochemical feedstock that can be broken down into ethylene, used in a wide variety of industrial, agricultural, and other applications. This greenfield infrastructure helps support that demand.

“With more than 65 years of legacy expertise in the engineering and design of cryogenic infrastructure, and as a leader in cryogenic storage and terminal solutions, Matrix is fielding a growing number of downstream project opportunities, including those for both ethane and ethylene, LNG, hydrogen, ammonia and propane.”

About Matrix Service Company        

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

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

With a focus on sustainability, building strong Environment, Social and Governance (ESG) practices, and living our core values, Matrix ranks among the Top Contractors by Engineering-News Record, has been recognized for its Board diversification, is an active signatory to CEO Action for Diversity and Inclusion, and is recognized as a Great Place to Work®. To learn more about Matrix Service Company, visit www.matrixservicecompany.com and read our Fiscal 2022 Sustainability Report.

For more information about Matrix, please contact:

Kevin S. CavanahKellie Smythe
Matrix Service CompanyMatrix Service Company
Vice President and CFOSenior Director, Investor Relations
T: 918-838-8822T: 918-359-8267

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