KBR Wins Ammonia Technology for Large-Scale, Low-Carbon Ammonia Project

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Mar 01, 2023, 06:00 ET

HOUSTON, March 1, 2023 /PRNewswire/ -- KBR (NYSE: KBR) announced today that its ammonia technology has been selected for a large-scale one million tons per annum low-carbon ammonia facility in the Middle East GCC region.

Under the terms of the contract, KBR will provide the technology license, basic engineering design, proprietary equipment and catalyst for the low-carbon ammonia plant. The project reinforces the region's focus to emerge as a leader in low-carbon fuels by capitalizing on ammonia as a vector for clean hydrogen.

"We are honored that our leading low-carbon ammonia technology has been selected for this world-scale energy transition project," said Doug Kelly, KBR President, Technology. "This project will be amongst the first large energy transition projects to come onstream in the world and we are excited to be part of this journey with several global industry leaders."

KBR is the world leader in ammonia technology with approximately 50% market share of licensed capacity. Since 1943, KBR has licensed, engineered, or constructed over 250 grassroot ammonia plants worldwide.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 30,000 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

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 ongoing conflict between Russia and Ukraine and the related impacts on our business as we wind down our business operations in Russia; the potential adverse economic and market conditions, such as interest rate and currency exchange rate fluctuations, including as a result of pandemics such as COVID-19; 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.