KBR Green Ammonia Technology Selected by OCIOR Energy in India
KBR (NYSE: KBR) announced that its green ammonia technology, K-GreeN®, has been chosen by OCIOR Energy for a new plant in Gopalpur, Odisha, India. This will be the 10th KBR-licensed green ammonia plant globally and the first in India. The plant will have a capacity of 600 metric tons per day. KBR will supply a technology license, proprietary engineering design, equipment, and catalyst solutions. The project aims to achieve an optimal levelized cost of ammonia production, aiding the region in meeting decarbonization goals. KBR's President, Jay Ibrahim, highlighted the company's role in the green energy value chain, emphasizing its commitment to net-zero targets. OCIOR Energy's CEO, Ranjit Gupta, expressed confidence in KBR's expertise to make the project a benchmark in green fuels production. KBR has a long history in ammonia technology, having been involved in nearly 260 ammonia plants since 1943.
- KBR’s K-GreeN® technology was selected for a new green ammonia plant in India.
- The plant will have a capacity of 600 metric tons per day.
- This is KBR's 10th licensed green ammonia plant globally.
- KBR will provide a technology license, proprietary engineering design, equipment, and catalyst solutions.
- The project will help the region meet its decarbonization goals.
- None.
Insights
The selection of KBR's green ammonia technology by OCIOR Energy in India marks a significant milestone in the renewable energy sector. The plant's capacity of 600 metric tons per day positions it as a substantial player in the green ammonia market, which is gaining momentum as industries seek to decarbonize.
Green ammonia refers to ammonia produced using renewable energy sources, making it a zero-carbon solution. This development is likely to attract investors due to its alignment with global sustainability goals and increasing regulatory pressures for carbon reduction. The deal also underscores KBR's strong market position and technological expertise, as evidenced by their history of licensing and constructing nearly 260 ammonia plants worldwide since 1943.
For retail investors, it's important to note that KBR's involvement in such projects can lead to long-term revenue streams from licensing and engineering services. However, investors should also be aware of potential risks, such as project delays or cost overruns, which are common in large-scale industrial projects.
This announcement is particularly impactful from a sustainability perspective. Green ammonia is considered a key component in achieving net-zero emissions due to its ability to be used as a clean fuel and a feedstock for chemicals and fertilizers without the associated carbon footprint of traditional ammonia production.
KBR’s K-GreeN® technology, which leverages renewable energy, addresses the growing global demand for sustainable industrial practices. This project will help India progress towards its decarbonization goals, creating opportunities for similar projects in other regions. The emphasis on achieving an optimal levelized cost of ammonia production will be critical in making green ammonia a viable economic alternative to its conventional counterpart.
Retail investors should recognize the broader trend of shifting towards environmentally friendly technologies. Companies like KBR, which are at the forefront of such innovations, are likely to benefit from increased regulatory and consumer focus on sustainability in the coming years.
Under the terms of the contract, KBR will provide a technology license, proprietary engineering design, equipment, and catalyst solutions to OCIOR for a green ammonia plant with capacity of 600 metric tons per day. Additionally, KBR will help OCIOR's plant to achieve the optimal levelized cost of ammonia production.
"We look forward to supporting OCIOR Energy on this landmark project, which will help the region in meeting its decarbonization goals by utilizing our zero-carbon K-GreeN solution," said Jay Ibrahim, President, KBR Sustainable Technology Solutions. "KBR has been playing a leading role in the development of the green energy value chain and this project testifies to our commitment towards helping customers meet their net zero targets by deploying our green ammonia solutions."
"OCIOR's green ammonia project aims to set a benchmark for reliable green fuels production. We are confident that KBR's proven expertise and commitment will ensure the success of this project," said Ranjit Gupta, Chief Executive Officer, OCIOR Energy. "OCIOR's strategy focuses on developing well-engineered green ammonia projects in renewable resource-rich regions to fulfill increasing demand from global off-takers."
KBR is a world leader in ammonia technology and has been at the forefront of innovation in the ammonia market for decades. Since 1943, KBR has licensed, engineered, or constructed nearly 260 grassroot ammonia plants worldwide.
About KBR
We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 35,000 people worldwide with customers in more than 80 countries and operations in over 30 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 future project performance and decarbonization targets, 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
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SOURCE KBR, Inc.
FAQ
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