HOUSTON, Nov. 14,
2023 /PRNewswire/ -- KBR (NYSE: KBR) announced today
it has signed a Memorandum of Understanding (MoU) with Korea-based
ISU Chemical for a commercial ammonia cracking project to be based
in Ulsan, Republic of Korea. The project will employ KBR's
innovative technology, H2ACT℠, which has rapidly emerged as the
industry's leading ammonia cracking technology.
Under the terms of the MoU, KBR will provide licensing,
proprietary engineering design, proprietary equipment, and catalyst
for the planned 10 MTPD hydrogen production unit, with operations
scheduled to commence in the first half of 2026.
"We are pleased to extend our collaboration with ISU Chemical to
include this important project. This paves the way for the wider
adoption of ammonia cracking for the production of hydrogen in
support of the transition to a hydrogen economy," said Doug Kelly, KBR President, Technology. "KBR is
continuing to lead energy transition projects globally, and along
with ISU, we look forward to demonstrating the value of clean
ammonia and hydrogen towards achieving our net zero targets."
KBR is a world leader in ammonia technology. Since 1943, KBR has
licensed and designed more than 250 ammonia plants across the
globe.
About KBR
We deliver science, technology and engineering solutions to
governments and companies around the world. KBR employs
approximately 34,000 people performing diverse, complex and
mission-critical roles in 33 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 Statements
The statements in this press release that are not historical
statements, including statements regarding the performance of the
company's MoU with ISU Chemical, are forward-looking statements
within the meaning of the federal securities laws. These statements
are subject to numerous risks, uncertainties and assumptions, 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, uncertainties and assumptions
include, but are not limited to, those set forth in 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, which discuss some of the important risks, uncertainties
and assumptions that the company has identified that may affect its
business, results of operations and financial condition. Due to
such risks, uncertainties and assumptions, you are cautioned not to
place undue reliance on such forward-looking statements, which
speak only as of the date hereof. 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.