Atlas Agro Selects KBR's Green Ammonia Technology for its Series of Plants

Rhea-AI Summary

KBR has signed a memorandum of understanding (MoU) with Atlas Agro AG to license its K-GreeN® technology for a series of green nitrate plants aimed at producing zero-carbon nitrogen fertilizers. The collaboration will enable the first plant's engineering design to commence in March 2023 in the United States. KBR is recognized as a leader in ammonia technology, holding approximately 50% of the market share in licensed capacity. The partnership is expected to support the production of fertilizers intended to feed nearly 16 million people and reduce carbon emissions by over one million tons annually. The initiative aligns with KBR's commitment to delivering advanced engineering solutions globally.

Positive

• KBR's K-GreeN® technology licensed to Atlas Agro for zero-carbon fertilizer production.
• First plant's engineering design commenced in March 2023, indicating project progress.
• KBR holds approximately 50% market share in ammonia technology, underscoring its industry leadership.
• The partnership aims to support sustainable agriculture and reduce carbon emissions significantly.

Negative

• None.

HOUSTON, April 13, 2023 /PRNewswire/ -- KBR (NYSE: KBR) announced today that it has signed a memorandum of understanding (MoU) with Atlas Agro AG to license KBR's innovative K-GreeN® technology for Atlas' planned investment in a series of green nitrate plants.

Under the terms of the MoU, KBR will provide technology licensing, basic engineering design, proprietary equipment and catalyst for the plants, which will produce zero-carbon nitrogen fertilizers. The engineering design for the first plant located in the United States commenced in March 2023. 

"We are excited to support Atlas Agro's vision of zero-carbon fertilizer production through our market leading green ammonia technology, K-GreeN," said Doug Kelly, KBR President, Technology. "We are also confident that we can drive schedule synergies across the series of plants to accelerate availability of clean ammonia globally."

"We are proud to partner with KBR and use its K-GreeN process for our green fertilizer facilities," said Petter Østbø, CEO, Atlas Agro. "Each of our green ammonia plants will produce fertilizer that will help feed nearly 16 million people and avoid global carbon emissions of more than one million tons per year."

KBR is the world leader in ammonia technology with approximately 50% market share of licensed capacity. Since 1943, KBR has licensed, engineered, or constructed over 250 grassroot ammonia plants worldwide.

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 Statements

The statements in this press release that are not historical statements, including statements regarding the company's MOU with Atlas Agro AG, 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 is KBR's recent partnership about?

KBR has partnered with Atlas Agro AG to license its K-GreeN® technology for green nitrate plants, focusing on zero-carbon fertilizer production.

When did KBR commence the engineering design for the green ammonia plant?

The engineering design for the first green ammonia plant commenced in March 2023.

What market share does KBR hold in ammonia technology?

KBR holds approximately 50% of the market share in licensed ammonia technology.

How many people will the green ammonia plants help feed?

The green ammonia plants are expected to produce fertilizer that can feed nearly 16 million people.

What are the expected carbon emission reductions from the partnership?

The collaboration is expected to avoid over one million tons of global carbon emissions per year.