HOUSTON, March 16,
2023 /PRNewswire/ -- KBR (NYSE: KBR) announced today
that CVR Energy, Inc.'s Board of Directors has approved the next
phase of the revamp of the alkylation unit at its subsidiary's
crude oil refinery located in Wynnewood,
Oklahoma.
This phase entails the completion of engineering, design, module
fabrication and construction for KBR's Solid Acid Alkylation
Technology (K-SAAT™) unit to eliminate hydrofluoric (HF) acid from
the refinery. KBR's contract includes the supply of a fully
engineered and fabricated modular solution along with KBR's
proprietary catalyst for the project.
"We view this as a landmark project for the U.S. refining
industry," said Doug Kelly, KBR
President, Technology. "The Wynnewood refinery will be the first U.S.
implementation of K-SAAT technology, which in addition to
delivering higher alkylate yield, should provide tangible
environmental and safety benefits. We believe other leading
refiners will adopt this technology given its clear ESG
advantage."
"We are pleased to move forward with this important project,"
said Dave Lamp, President &
Chief Executive Officer of CVR Energy. "It represents yet another
example of CVR Energy's efforts to focus on safe, efficient and
reliable operations, and should increase gasoline production by
upgrading lower-valued propylene."
KBR's K-SAAT provides an opportunity to maximize the yield and
quality of an ultra-clean gasoline blendstock with the ExSact™
catalyst, a revolutionary solid-acid catalyst that has been
engineered to outperform liquid acid catalysts.
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 implementation and
adoption of KBR's K-SAAT technology, 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.
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SOURCE KBR, Inc.