Company Announcements

STAMFORD, Conn.--(BUSINESS WIRE)--Jul. 15, 2025-- July 15, 2025-- ITT Inc. (NYSE: ITT) today announced that its Svanehøj business, a leading designer and manufacturer of specialized cryogenic pumps and aftermarket services for the marine sector, has secured its first agreement to provide flow technology on next-generation Ultra Large Ethane Carriers (ULECs). Under the agreement, Svanehøj will deliver deepwell fuel, cargo and stripping pumps for two ULECs, each with a carrying capacity of 40 million gallons, beginning in early 2026 for a leading European maritime customer.

Ethane, a critical component in energy and petrochemical production processes, is transported in liquefied form at low temperatures to reduce its volume for shipping over long distances. Svanehøj’s highly engineered pump solutions have become the marine industry standard for moving ethane because electrical components are placed outside the tank, simplifying access for maintenance and repair. ULECs are the third generation of large-scale ethane carriers, outperforming older vessels while providing multi-gas transport for greater operational flexibility.

This award follows the company’s successful expansion into the ethane carrier segment beginning in 2019. Since then, Svanehøj has won multiple awards on second-generation ethane carriers, known as Very Large Ethane Carriers (VLECs), and today all VLECs operating globally are equipped with Svanehøj deepwell pumps.

“For nearly 100 years, Svanehøj has led the way with innovative flow technology for the marine sector, operating reliably in the harshest conditions imaginable. This performance has driven our leading market positions across multiple product categories. And now, after demonstrating wide adoption of Svanehøj pumps on earlier ethane carriers, we are advancing our position on ULECs. Once again, ITT’s differentiated product portfolio is equipped to meet growing demand for alternative fuels. We expect this to further the robust orders and sales growth Svanehøj has delivered over the last two years,” said Svanehøj’s Chief Executive Officer Søren Kringelholt.

Svanehøj has also recently secured several other high-profile commercial awards, including fuel pumps deployed in a major offshore natural gas development in the Black Sea region and four underground installations in the Asian Liquefied Petroleum Gas (LPG) market. Read more about these wins and others by visiting https://www.svanehoj.com.

About Svaneh ø j

Svanehøj is a provider of pumps and aftermarket service with leading positions in cryogenic applications for the marine sector. Its products manage critical liquids and are widely regarded as the highest quality offering across multiple verticals.

Founded in 1928, Svanehøj employs ~400 highly skilled professionals and has operations in Denmark, Singapore and France. The company generated ~$160 million in sales in 2024. Svanehøj is a part of ITT’s Industrial Process (IP) segment, a global leader in flow focused on highly engineered pumps, valves and aftermarket services. IP generated ~$1.4 billion in revenue in 2024.

About ITT

ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial and energy markets. Building on its heritage of innovation, ITT partners with its customers to deliver enduring solutions to the key industries that underpin our modern way of life. ITT is headquartered in Stamford, Connecticut, with employees in more than 35 countries and sales in approximately 125 countries. For more information, visit www.itt.com.

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Media:
Phil Terrigno
+1 914-641-2143
phil.terrigno@itt.com

Investors:
Mark Macaluso
+1 914-641-2064
mark.macaluso@itt.com

Source: ITT Inc.