Graham Corporation Receives $17 Million of Orders to Support Energy and Petrochemical Expansion Projects in North America and the Middle East

Graham Corporation (NYSE: GHM) (“GHM” or “the Company”), a global leader in the design and manufacture of mission critical fluid, power, heat transfer, and vacuum technologies for the defense, space, energy, and process industries, today announced that it has received approximately $17 million of orders for two expansion projects in the energy and petrochemical markets.

Daniel J. Thoren, President and CEO, commented, “We are excited to work with our North American customer as they aim to create the world's first net-zero carbon emissions integrated ethylene cracker and derivatives site. Graham’s surface condensers with custom venting package allow the turbine drives to operate at peak efficiency and are considered state of the art in our industry. Additionally, we received a notable order to support an expansion project in the Middle East, which we attribute to our strong relationship and our customer’s preference for our high-performance steam jet ejectors.”

The North American order includes three surface condenser systems for critical service in both a main process unit and utility unit. This project aims to advance the eco-friendliness of natural gas refining, with the collective goal to minimize carbon emissions throughout the production process. The order was received in April 2024 and approximately 50% of the revenue is expected to be recognized in fiscal 2025 with the remainder expected in fiscal 2026.

For the Middle East expansion project, the Company was awarded a contract to supply a new vacuum system for a crude to chemical vacuum distillation tower. This project aims to bolster the production of Group II and Group III Base Oils. This order was received in March 2024, with revenue expected to be recognized in fiscal 2025.

About Graham Corporation

GHM is a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy and process industries. The Graham Manufacturing and Barber-Nichols’ global brands are built upon world-renowned engineering expertise in vacuum and heat transfer, cryogenic pumps and turbomachinery technologies, as well as its responsive and flexible service and the unsurpassed quality customers have come to expect from the Company’s products and systems.

Graham Corporation routinely posts news and other important information on its website, www.grahamcorp.com, where additional information on Graham Corporation and its businesses can be found.

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