DL E&C Signs a Technical Cooperation Agreement for Sustainable Aviation Fuel (SAF) with KBR

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DL E&C Co., Ltd (KRX: 375500) has signed a feasibility study contract with Kellogg Brown & Root (KBR) (NYSE:KBR) for its sustainable aviation fuel production business using KBR’s ATJ (Alcohol to Jet) technology, PureSAFSM. The collaboration aims to revolutionize the sustainable aviation fuel sector and strengthen PureSAFSM in global markets. The global SAF market is projected to reach USD 402 billion by 2050, and DL E&C and KBR are joining forces to develop a comprehensive business plan for sustainable aviation fuel producers.

-Engaged KBR to conduct a feasibility study for the sustainable aviation fuel business

-Aims to become the undisputed leader in the sustainable aviation fuel market

SEOUL, South Korea--(BUSINESS WIRE)-- DL E&C Co., Ltd (KRX: 375500) announced on December 13, that it had signed a feasibility study contract with Kellogg Brown & Root (KBR) (NYSE:KBR), an American petrochemical and energy technology company, for its sustainable aviation fuel production business using KBR’s ATJ (Alcohol to Jet) technology, PureSAF^SM. This agreement marks the first step for both companies to increase their market share in the sustainable aviation fuel sector.

Donuimun D Tower, the head office building of DL E&C (Photo: DL E&C Co., Ltd)

This collaboration allows both parties to blend their expertise to revolutionize the SAF sector, as well as strengthen PureSAF^SM in global markets.

To achieve carbon neutrality by 2050, the aviation industry has mandated the use of sustainable aviation fuel. In response, leading oil refineries are actively engaging in business development and technology R&D for SAF production. TMR, a global market research firm, estimates the global SAF market to be worth around USD 186.6 million (KRW 235.5 billion) in 2021 and projected a CAGR of 26.2%, reaching USD 402 billion (KRW 508 trillion) by 2050.

DL E&C and KBR have agreed to combine their respective strengths and expertise to develop a comprehensive business plan for sustainable aviation fuel producers based on the innovative ATJ technology.

Under this agreement, DL E&C will be responsible for FEED, EPC (engineering, procurement, construction), and pre-commissioning of production plants. As the licensor, KBR will take charge of the basic design stage and provide source technology and solutions for catalyst selection and maintenance. Marking this strategic collaboration as a significant milestone, both companies aim to deliver a complete and integrated solution for the entire SAF industry.

“In line with the global trend of increased sustainable aviation fuel adoption, DL E&C will leverage our collaboration with leading international companies to offer a comprehensive suite of solutions and solidify our position as a leader in the SAF industry,” said Jae-ho Yoo, Head of the Plant Business Department at DL E&C.

More information about DL E&C, can be found on the website: https://www.dlenc.co.kr/eng

View source version on businesswire.com: https://www.businesswire.com/news/home/20231213047803/en/

DL E&C Co., Ltd

Yang, Ik-Joon

+82 2-2011-7851

june2002@dlenc.co.kr

Source: DL E&C Co., Ltd

FAQ

What is the ticker symbol for DL E&C Co., Ltd?

The ticker symbol for DL E&C Co., Ltd is KRX: 375500.

Who did DL E&C Co., Ltd sign a feasibility study contract with for its sustainable aviation fuel production business?

DL E&C Co., Ltd signed a feasibility study contract with Kellogg Brown & Root (KBR) for its sustainable aviation fuel production business.

What is the projected value of the global SAF market by 2050?

The global SAF market is projected to reach USD 402 billion by 2050.

What role will DL E&C Co., Ltd and KBR play in developing sustainable aviation fuel production plants?

DL E&C will be responsible for FEED, EPC, and pre-commissioning of production plants, while KBR will take charge of the basic design stage and provide source technology and solutions for catalyst selection and maintenance.

Who is the Head of the Plant Business Department at DL E&C?

Jae-ho Yoo is the Head of the Plant Business Department at DL E&C.