KBR's Sustainability Focus Demonstrated with Master Services Agreement for Carbon Recycling Technology Company LanzaTech

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Jan 07, 2021, 06:00 ET

HOUSTON, Jan. 7, 2021 /PRNewswire/ -- KBR (NYSE: KBR) announced today it has been awarded a Master Services Agreement by LanzaTech to provide engineering services for their global carbon recycling technology projects.

Under the terms of the contract, KBR will provide basic engineering design services and technical support for LanzaTech's projects in various locations. This work is expected to be performed over five years and will be led by KBR's Wilmington, Delaware office with support from KBR's global subject matter experts.

"We are excited and proud to take part in LanzaTech's carbon capture projects and help build on their sustainable solutions to reduce, recycle and reuse carbon. This win is indicative of KBR's commitment to sustainability and aligns with our robust sustainability action plan which includes reducing carbon footprints around the world," said Jay Ibrahim, KBR President, Technology Solutions.

For many years, KBR has been an industry leader in energy transition, offering proprietary sustainable technologies and professional services to clients to support decarbonization.

About LanzaTech

Carbon recycling company, LanzaTech is a global leader in gas fermentation, making sustainable fuels and chemicals via biological conversion of waste carbon emissions, including industrial off-gases; syngas generated from any biomass resource (e.g. municipal solid waste), organic industrial waste, agricultural waste); and reformed biogas. LanzaTech's expertise in fermentation scale up, reactor design, machine learning and synthetic biology has enabled the company to commercialize its recycling process and demonstrate production of over 100 different chemicals. With global investors and partners, LanzaTech has a pipeline of commercial projects around the world and is working across the supply chain to provide novel circular solutions to mitigate carbon by producing consumer goods that would otherwise come from fresh fossil resources.

Founded in New Zealand, LanzaTech is based in Illinois, USA and employs more than 170 people, with locations in China, India and Europe.

Further information is available at www.lanzatech.com

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 28,000 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; the company's ability to respond to the challenges and business disruption presented by the COVID-19 pandemic; the recent dislocation of the global energy market; the company's ability to realize cost savings and efficiencies relating to the streamlining of its Energy Solutions business; the company's ability to manage its liquidity; the company's ability to continue to generate anticipated levels of revenue, profits and cash flow from operations during the COVID-19 pandemic and any resulting economic downturn; 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; the scope and enforceability of the company's indemnities from its former parent; changes in capital spending by the company's customers, including as a result of the COVID-19 pandemic; 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; 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.