Answer
Elgiloy offers an extraordinary combination of high strength, excellent fatigue life, and resistance to sulfide stress cracking (SSC) and hydrogen-induced cracking (HIC) in 'sour' gas ($H_2S$) environments. It meets NACE MR0175 standards, which is a prerequisite for subsea oil and gas applications. Its mechanical properties are achieved through a combination of cold work and aging (typically 5 hours at 480C). For a wave spring, this means it can maintain its preload in the presence of acidic brine and high pressure where 17-7PH would fail due to stress corrosion cracking.