KBR and Giammarco-Vetrocoke Sign Master Services Agreement for Carbon Capture Technology

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Sep 22, 2022, 06:00 ET

HOUSTON, Sept. 22, 2022 /PRNewswire/ -- KBR (NYSE: KBR) announced today that it has signed a master license and engineering agreement with Giammarco-Vertrocoke S.R.L. for KBR to license its carbon capture technology globally.

This carbon capture technology is well proven, energy efficient, flexible and can be integrated across the value chain for blue ammonia, petrochemical, and refining industries today.

"We are excited to enter into this agreement with Giammarco-Vetrocoke, as it enables us to integrate and deploy critical carbon capture solutions today to help our clients meet their sustainability targets," said Doug Kelly, KBR President, Technology. "Further, by leveraging this solution across the breadth of our portfolio, we believe we can implement smart and efficient carbon capture solutions on both existing and new projects."

"Expanding our working relationship with KBR will grow our footprint in industries globally," said Luigi Tomasi, General Manager, Giammarco-Vetrocoke. "This agreement aligns with Giammarco-Vetrocoke's mission to reduce the impact of climate change by capturing as much CO₂ as possible."

KBR strives to create a better, safer and more sustainable world and we are committed to developing sustainable solutions that meet the world's most pressing challenges.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 28,000 people performing diverse, complex and mission-critical roles in 34 countries.

KBR is proud to work with its customers across the globe to provide technology, value-added services, and long-term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.

Visit www.kbr.com

About Giammarco-Vertrocoke

Giammarco-Vetrocoke is a world-renowned licensor for CO2 Capture Processes based on activated Hot Potassium Carbonate (HPC) solution. Throughout its 70 years of activity has developed 15 main patents extended worldwide and licensed to almost 400 industrial applications. Giammarco-Vetrocoke is located in Venice, Italy and serves clients around the world.

Forward Looking Statement

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the significant adverse impacts on economic and market conditions of the COVID-19 pandemic and the company's ability to respond to the resulting challenges and business disruption; the recent dislocation of the global energy market; the company's ability to manage its liquidity; the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; changes in capital spending by the company's customers; the company's ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company's ability to control its cost under its contracts; claims negotiations and contract disputes with the company's customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; the possibility of cyber and malware attacks; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.

The company's most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other U.S. Securities and Exchange Commission filings discuss some of the important risk factors that the company has identified that may affect its business, results of operations and financial condition. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

SOURCE KBR, Inc.