Fluor’s Carbon Capture Technology Selected by Federated Co-Operatives Ltd. for Renewable Diesel Facility in Canada

Rhea-AI Summary

Fluor Corporation (NYSE: FLR) has signed a license agreement with Federated Co-Operatives Limited (FCL) to implement its Econamine FG Plus^SM carbon capture technology at FCL's Co-op Renewable Diesel Complex in Regina, Saskatchewan, Canada. This project is part of FCL's $2 billion investment aimed at integrating agricultural and energy solutions, with the facility expected to be operational by 2027. Fluor will also deliver a process design package to help FCL achieve a 40% reduction in greenhouse gas emissions by 2030. This agreement highlights Fluor's commitment to supporting decarbonization efforts, reflecting increasing activity in carbon capture technology.

Positive

• Signed a license agreement with Federated Co-Operatives Limited for Econamine FG Plus technology.
• Project supports a $2 billion investment in sustainable energy solutions.
• Aims for a 40% reduction in greenhouse gas emissions by 2030.

Negative

• None.

Facility to use Fluor’s proprietary Economine FG Plus^SM carbon capture technology

IRVING, Texas--(BUSINESS WIRE)-- Fluor Corporation (NYSE: FLR) announced today that it has signed a license agreement with Federated Co-Operatives Limited (FCL) for the application of Fluor’s Econamine FG Plus^SM carbon capture technology at FCL’s Co-op Renewable Diesel Complex in Regina, Saskatchewan, Canada.

Fluor has signed a license agreement with Federated Co-Operatives Limited (FCL) for the application of Fluor’s Econamine FG Plus carbon capture technology at FCL’s Co-op Renewable Diesel Complex (adjacent to FCL’s facility pictured) in Regina, Saskatchewan, Canada. (Photo: Business Wire)

Fluor also booked a first quarter award to develop the process design package for the facility that will help FCL meet their commitment of a 40 percent greenhouse gas emissions reduction target by 2030.

“We are pleased to assist FCL in meeting their decarbonization goals through the reduction of greenhouse gas emissions by utilizing our carbon capture technology,” said Jim Breuer, group president of Fluor’s Energy Solutions business. “We are seeing significant activity in carbon capture and are pleased to bring Econamine FG Plus to FCL’s renewable diesel project, helping them create a more sustainable future while meeting the world's growing energy demands.”

The FCL renewable diesel project is part of a $2 billion investment in the construction of an integrated agriculture complex - a key element of FCL’s energy roadmap. The facility is scheduled to be operational by 2027.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s 40,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $13.7 billion in 2022 and is ranked 259 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement and construction services for more than 110 years. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230420005345/en/

Brett Turner

Media Relations

864.281.6976

Jason Landkamer

Investor Relations

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Source: Fluor Corporation

FAQ

What technology has Fluor licensed to Federated Co-Operatives Limited?

Fluor has licensed its Econamine FG Plus carbon capture technology.

Where will Fluor's carbon capture technology be implemented?

It will be implemented at FCL's Co-op Renewable Diesel Complex in Regina, Saskatchewan, Canada.

What is the financial investment associated with the FCL project?

The FCL renewable diesel project is part of a $2 billion investment.

When is the FCL renewable diesel facility expected to begin operations?

The facility is scheduled to be operational by 2027.

What greenhouse gas reduction target has FCL set for 2030?

FCL aims for a 40% reduction in greenhouse gas emissions by 2030.