KBR Awarded $75M Contract to Provide Innovative Solutions for U.S. Department of Defense

Rhea-AI Summary

KBR awarded $75 million task order to support DoD's critical technology areas

Positive

• KBR has been awarded a $75 million, five-year recompete task order to perform research and analysis in advanced materials, trusted AI, and renewable energy generation and storage. This represents more than 80 percent growth from the previous task order and strengthens KBR's focus on ground vehicle systems.

Negative

• None.

HOUSTON, Oct. 17, 2023 /PRNewswire/ -- KBR (NYSE: KBR) was awarded a $75 million, five-year recompete task order to perform research and analysis to address the Department of Defense (DoD) critical technology areas of advanced materials, trusted artificial intelligence (AI) and autonomy, and renewable energy generation and storage.  

KBR was awarded this task order under the DoD Information Analysis Center (IAC) Multiple Award Contract (MAC) vehicle. This is a significant recapture of Project Manager Transportation Systems (PMTS) Family of Vehicles (FoV) Analysis IAC MAC contract. This win substantially strengthens KBR's growth initiative focusing on ground vehicle systems and represents more than 80 percent growth from the previous task order. 

Under the terms of the contract, KBR will provide research and development for engineering, new product design and development, logistics and reliability improvements, and obsolescence and diminishing sources of manufacturing and supply.

"KBR is proud to continue supporting the U.S. Army's Program Executive Office (PEO) Combat Support & Combat Support Services," said Byron Bright, President of KBR Government Solutions U.S. "These innovative solutions advance reliability, maintainability and sustainability of combat-enabling systems, keeping our customers on the cutting edge of warfare strategy and execution."  

KBR has been providing mission critical support to the PEO Combat Support & Combat Support Services since 2008. As the Team Behind the Mission^®, protecting U.S. soldiers and allies is one of KBR's top priorities.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 33,000 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 company's performance of its contract with the DoD, 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/kbr-awarded-75m-contract-to-provide-innovative-solutions-for-us-department-of-defense-301958211.html

SOURCE KBR, Inc.

FAQ

What is the value of the task order awarded to KBR?

The task order awarded to KBR is valued at $75 million.

What are the critical technology areas KBR will address?

KBR will address advanced materials, trusted AI, and renewable energy generation and storage.

What does this task order mean for KBR's growth initiative?

This task order represents more than 80 percent growth from the previous task order and strengthens KBR's focus on ground vehicle systems.

How long is the duration of the task order?

The task order has a duration of five years.