KBR Green Ammonia Technology Selected by OCIOR Energy in India

Rhea-AI Summary

KBR (NYSE: KBR) announced that its green ammonia technology, K-GreeN®, has been chosen by OCIOR Energy for a new plant in Gopalpur, Odisha, India. This will be the 10th KBR-licensed green ammonia plant globally and the first in India. The plant will have a capacity of 600 metric tons per day. KBR will supply a technology license, proprietary engineering design, equipment, and catalyst solutions. The project aims to achieve an optimal levelized cost of ammonia production, aiding the region in meeting decarbonization goals. KBR's President, Jay Ibrahim, highlighted the company's role in the green energy value chain, emphasizing its commitment to net-zero targets. OCIOR Energy's CEO, Ranjit Gupta, expressed confidence in KBR's expertise to make the project a benchmark in green fuels production. KBR has a long history in ammonia technology, having been involved in nearly 260 ammonia plants since 1943.

Positive

• KBR’s K-GreeN® technology was selected for a new green ammonia plant in India.
• The plant will have a capacity of 600 metric tons per day.
• This is KBR's 10th licensed green ammonia plant globally.
• KBR will provide a technology license, proprietary engineering design, equipment, and catalyst solutions.
• The project will help the region meet its decarbonization goals.

Negative

• None.

News Market Reaction

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-0.78% News Effect

On the day this news was published, KBR declined 0.78%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

HOUSTON, July 1, 2024 /PRNewswire/ -- KBR (NYSE: KBR) announced today its green ammonia technology, K-GreeN^®, has been selected by OCIOR Energy for its plant located in Odisha's Gopalpur region, India. This will be the 10^th KBR-licensed green ammonia plant globally and the first to be located in India.

Under the terms of the contract, KBR will provide a technology license, proprietary engineering design, equipment, and catalyst solutions to OCIOR for a green ammonia plant with capacity of 600 metric tons per day. Additionally, KBR will help OCIOR's plant to achieve the optimal levelized cost of ammonia production.

"We look forward to supporting OCIOR Energy on this landmark project, which will help the region in meeting its decarbonization goals by utilizing our zero-carbon K-GreeN solution," said Jay Ibrahim, President, KBR Sustainable Technology Solutions. "KBR has been playing a leading role in the development of the green energy value chain and this project testifies to our commitment towards helping customers meet their net zero targets by deploying our green ammonia solutions."

"OCIOR's green ammonia project aims to set a benchmark for reliable green fuels production. We are confident that KBR's proven expertise and commitment will ensure the success of this project," said Ranjit Gupta, Chief Executive Officer, OCIOR Energy. "OCIOR's strategy focuses on developing well-engineered green ammonia projects in renewable resource-rich regions to fulfill increasing demand from global off-takers."

KBR is a world leader in ammonia technology and has been at the forefront of innovation in the ammonia market for decades. Since 1943, KBR has licensed, engineered, or constructed nearly 260 grassroot ammonia plants worldwide.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 35,000 people worldwide with customers in more than 80 countries and operations in over 30 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 future project performance and decarbonization targets, 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.

FAQ

What technology has KBR provided for OCIOR Energy's plant in India?

KBR has provided its K-GreeN® green ammonia technology for OCIOR Energy's plant in Gopalpur, Odisha, India.

What is the capacity of the new green ammonia plant by OCIOR Energy using KBR technology?

The new green ammonia plant will have a capacity of 600 metric tons per day.

How many KBR-licensed green ammonia plants exist globally?

There are 10 KBR-licensed green ammonia plants globally.

What role will KBR play in OCIOR Energy's green ammonia project?

KBR will provide a technology license, proprietary engineering design, equipment, and catalyst solutions, and help achieve the optimal levelized cost of ammonia production.

Who is the CEO of OCIOR Energy, and what did they say about the project?

The CEO of OCIOR Energy is Ranjit Gupta, who expressed confidence in KBR’s expertise to ensure the project's success.