KBR Awarded Contract for Plastics Recycling Projects by PKN ORLEN

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Aug 31, 2021, 06:00 ET

HOUSTON, Aug. 31, 2021 /PRNewswire/ -- KBR (NYSE: KBR) announced today that it has been awarded a feasibility study contract by PKN ORLEN to evaluate plastics recycling projects in Central Europe utilizing KBR's Hydro-PRT℠ technology. KBR and PKN ORLEN have also signed a Letter of Intent to collaborate on the development of future projects.

Along with KBR, PKN ORLEN will assess the implementation of Hydro-PRT as the core technology for recycling waste plastics to support PKN ORLEN's corporate ESG and circularity objectives. Hydro-PRT is an advanced recycling technology that converts waste plastic into petrochemical and refinery products and is offered by KBR in alliance with Mura Technology.

"This contract represents an important milestone for KBR and PKN ORLEN to assess the long-term potential of this breakthrough technology," said Doug Kelly, KBR President, Technology. "We are confident that Hydro-PRT will enable PKN ORLEN to achieve its corporate ESG and decarbonization objectives."

KBR has been a leader in process technology development, commercialization, and plant design solutions for over 50 years.

About PKN ORLEN

PKN ORLEN is a leading company in the refining, petchem and energy sectors in Central and Eastern Europe and has a presence in over 10 European counties along the entire value chain. PKN ORLEN is the first fuel company in Central Europe to have declared an intention to achieve emission neutrality by 2050.

For more details, visit: Visit www.orlen.pl

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 29,000 people worldwide with customers in more than 80 countries and operations in 40 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

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.

KBR'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 KBR has identified that may affect the business, results of operations and financial condition. Except as required by law, KBR undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

SOURCE KBR, Inc.