Plexus Regulatory News (POS)

Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

20 September 2022

Plexus Holdings PLC

 ('Plexus' or 'the Company')

 Plexus Shortlisted in the OWI Global Awards 2022

Shortlisted in the 'Environmental Sustainability Innovation'

and 'Significant Contribution to the Industry' Categories

Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time, and cost-saving capabilities, is pleased to announce that it has been shortlisted in the 'Environmental Sustainability Innovation' and 'Significant Contribution to the Industry' categories of the Offshore Network's OWI Global Awards 2022 ('OWI Awards' or 'the Awards').

Commenting on the nominations, Plexus' CEO Ben Van Bilderbeek said: 

"We are absolutely delighted to be included in these two categories and thank the OWI for the nominations. Our proprietary wellhead technology has been supporting the oil and gas industry for many years, particularly with regards to our "through the BOP" and leak-proof "HG"® metal to metal sealing technology, which can help reduce methane gas emissions, over the lifetime of a well, thereby helping operators meet their ESG goals.

"Safe operating practices have always been at the forefront of our technology, which delivers a cost-effective, science-based, preventative leak-free solution that can be verified, monitored, and reported at the well site. I believe that adoption of technology like POS-GRIP is pivotal to the oil and gas industry, if it is to meet its NetZero commitments and combat climate change. We wish all award nominees luck and look forward to the results."

The Awards recognise the best in well intervention excellence and include Schlumberger, Weatherford and Expro among the listed nominees. The eight categories are:

· Digital Transformation Leader

· Champion Integrated Well Service Company

· Best Example of Collaboration

· Best Project Outcome

· Environmental Sustainability Innovation

· Most Innovative Solution

· Plug and Abandonment Excellence

· Significant Contribution to the Industry

The Awards will be broadcasted globally and will take place in Aberdeen on the 25th November 2022. For more information on the Awards please visit: https://offsnet.com/owi-awards

**ENDS**

For further information please visit www.plexusplc.com or contact:

Notes to Editors

Plexus Holdings plc (AIM: POS)

Plexus is an IP led company focussed on establishing its patented leak-proof POS-GRIP® wellhead and associated equipment as the go-to technology for energy markets whilst making a genuine contribution to the oil and gas industry's ESG and NetZero goals by championing "through the BOP" (Blow-out Preventer) designs, and lifetime leak-proof HG® metal-to-metal sealing systems. Having protected the environment for many years through these technological innovations, the Company was awarded the London Stock Exchange's Green Economy Mark in July 2021 and continues to place emphasis on its ability to reduce harmful methane emissions and unnecessary maintenance and intervention costs.

Headquartered in Aberdeen, the Company has provided leak-free wellhead performance in over 400 wells worldwide and worked with an array of blue-chip oil and gas company clients. As well as generating direct revenues from securing orders for surface production wellheads particularly in the UK and European North Sea regions, the Company has several licencing/collaboration agreements with major partners including FMC Technologies, which is a subsidiary of TechnipFMC and Cameron, a Schlumberger Group company. Cameron has a non-exclusive licence to use the POS-GRIP and HG® metal-to-metal seal method of wellhead engineering for the development of conventional and unconventional oil and gas surface wellheads, and Plexus entered into a Cooperation Agreement, which enabled Plexus to return to the Jack-up Exploration (Adjustable) Wellhead rental business for 'through the BOP' jack-up applications, where Cameron will help to provide Plexus with sales leads and market insight through a formal Sales Advisory Board.

Plexus' current suite of products and applications include: "HG" wellheads, which combine POS-GRIP technology with gas tight leak free metal-to-metal sealing; the Python® subsea wellhead, developed in a Joint Industry Project with several industry leaders; the POS-SET™ Connector for the de-commissioning and abandonment market; and Tersus-PCT, an innovative HP/HT tie back connector product. Having proved the superior uniquely enabling qualities of POS-GRIP Technology, Plexus is now also focused on establishing its technology and equipment in other markets such as Plug and Abandonment de-commissioning, carbon capture, gas storage, hydrogen and geothermal where it can play an important role in reducing harmful methane emission risks as operators strive to deliver on ESG commitments and NetZero goals in a safe and cost-effective way.

For more information visit: https://www.plexusplc.com/