HOUSTON, Dec. 22, 2021 /PRNewswire/ -- KBR (NYSE: KBR) announced today that it has been awarded a study to help establish a green hydrogen market in Trinidad and Tobago as part of an ongoing technical cooperation financed by the Inter-American Development Bank (IDB).
Under the terms of the contract, KBR will analyze strategies for maximizing opportunities to establish a green hydrogen economy in Trinidad and Tobago, undertaking supply and demand dynamics for green hydrogen generation, transportation, and end use applications.
The study will identify opportunities for the development of a low carbon economy, with a roadmap to Net Zero through technological innovation. It will assess the potential for green hydrogen production as well as the repurposing of the existing facilities for low carbon hydrogen. The assessment will include recommendations for a technical implementation plan.
KBR will work with National Energy Corporation of Trinidad and Tobago Limited (National Energy) and other key stakeholders to identify areas for development in existing infrastructure and policy, with a focus on innovative approaches to advance sustainable growth in this sector – helping diversify its economy.
"This study builds on KBR's proud history of supporting Trinidad and Tobago's advancing focus on clean energy solutions – establishing itself as a leader in the regional hydrogen economy," said Jay Ibrahim, President, Sustainable Technology Solutions, KBR.
"The recent COP26 Summit brought into focus the threat of climate change on island nations. The opportunity to help the country meet its carbon reduction and sustainability targets firmly aligns with KBRs commitment of driving innovative solutions to support sustainability."
For many years, KBR has been an industry leader in energy transition, offering proprietary sustainable technologies and professional services to clients to support decarbonization. KBR has been actively involved in the hydrogen value chain as both a technology provider, an advisor and by providing differentiated project delivery solutions.
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.
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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.
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