KBR Awarded Chemicals Technology Contract by Hanwha

Rhea-AI Summary

KBR announced a significant contract with Hanwha Corp. for a dual-pressure nitric acid technology at a new plant in Yeosu, South Korea. Under this contract, KBR will deliver licensing, basic engineering design, and technical support for a plant producing 1,200 metric tons of nitric acid per day, a key ingredient in fertilizers and plastics. This partnership showcases KBR's commitment to energy-efficient technologies, promising benefits in capital and operational expenditures. KBR has successfully licensed 76 nitric acid plants globally, maintaining its position as the leading technology provider in the U.S. market.

Positive

• Awarded a contract to provide dual-pressure nitric acid technology to Hanwha Corp.
• KBR will supply licensing and engineering support for a significant production capacity of 1,200 metric tons per day.
• Highlights commitment to energy-efficient and sustainable technology, which may enhance KBR's market position.

Negative

• None.

HOUSTON, Oct. 13, 2021 /PRNewswire/ -- KBR (NYSE: KBR) announced today it has been awarded a dual-pressure nitric acid technology contract by Hanwha Corp. for its new plant at Yeosu, South Korea. 

Under the terms of the contract, KBR will provide license, basic engineering design, and technical support to Hanwha for a 1,200 metric tons per day dual pressure nitric acid plant. Nitric acid is an intermediate chemical for the production of various products including fertilizers, plastics, and dyes.

"KBR is proud to be selected by Hanwha to deliver our leading dual-pressure nitric acid technology that offers tangible CAPEX and OPEX benefits including reduced net energy consumption through efficient energy recovery," said Doug Kelly, KBR President, Technology. "This contract highlights KBR's continued commitment to bringing energy-efficient sustainable technologies to the industry."

Since 1954, KBR has licensed 76 grassroot nitric acid plants globally and is the No. 1 technology in the demanding US market. 

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 29,000 people worldwide with customers in more than 80 countries and operations in 40 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 Statement

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, 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 and uncertainties include, but are not limited to: the significant adverse impacts on economic and market conditions of the COVID-19 pandemic and the company's ability to respond to the resulting challenges and business disruption; the recent dislocation of the global energy market;; the company's ability to manage its liquidity; the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; changes in capital spending by the company's customers; the company's ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company's ability to control its cost under its contracts; claims negotiations and contract disputes with the company's customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; the possibility of cyber and malware attacks; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.

KBR'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 discuss some of the important risk factors that KBR has identified that may affect the business, results of operations and financial condition. Except as required by law, KBR undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

 

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SOURCE KBR, Inc.

FAQ

What contract did KBR announce on October 13, 2021?

KBR announced a contract to provide dual-pressure nitric acid technology to Hanwha Corp. for a new plant in Yeosu, South Korea.

What is the production capacity of the nitric acid plant for which KBR is providing technology?

The nitric acid plant will have a production capacity of 1,200 metric tons per day.

What are the benefits of KBR's dual-pressure nitric acid technology?

The technology offers reduced net energy consumption and provides capital and operational expenditure benefits.

How many nitric acid plants has KBR licensed globally?

KBR has licensed 76 grassroot nitric acid plants globally since 1954.