KBR Increases Support to UK Government's Net Zero Innovation Portfolio

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KBR (NYSE: KBR) Increases Support for UK's Net Zero Energy Development

Positive

• Increased support for UK's net zero energy development showcases KBR's commitment to sustainability and innovation
• Extension of support contract with DESNZ demonstrates KBR's valuable contribution to the UK's £1bn Net Zero Innovation Portfolio

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• No negative points identified in the PR content

HOUSTON, Nov. 16, 2023 /PRNewswire/ -- KBR (NYSE: KBR) announced today that it is increasing its support to the development of new energy technologies, systems, and processes as part of the UK government's drive to net zero.

Building on work already underway through Frazer-Nash Consultancy, a KBR company, the Department for Energy Security and Net Zero ("DESNZ") has extended the value of its support contract, originally awarded in December 2021, as part of the UK's £1bn Net Zero Innovation Portfolio.

Frazer-Nash Consultancy supports DESNZ to develop its programs, and to assess and monitor the projects being delivered within the portfolio. In addition, the company will continue to provide energy generation and distribution technical support in areas including hydrogen, nuclear, offshore wind, onshore wind, bioenergy, heat pumps and retrofit, heat distribution, biomass boilers and solar heating.

The work supports the UK's aim to be powered entirely by clean electricity by 2035 and have net-zero carbon emissions by 2050. 

Paul Kahn, President, KBR Government Solutions International, said, "This is a great vote of confidence in the fantastic expertise and innovative work being provided by our people. Every part of this effort is moving us closer to ensuring energy security as part of a sustainable future, and we are very proud to be making a difference."

Frazer-Nash Consultancy is an advisory, engineering and systems technology consultancy with a strong track record for delivering services within the energy market both for industry and DESNZ.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 34,000 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 performance of Frazer-Nash Consultancy's contract with DESNZ, 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 involvement in the UK's net zero energy development?

KBR, through its subsidiary Frazer-Nash Consultancy, is increasing its support to the development of new energy technologies, systems, and processes as part of the UK government's drive to net zero.

What areas will KBR provide technical support in?

KBR will provide energy generation and distribution technical support in areas including hydrogen, nuclear, offshore wind, onshore wind, bioenergy, heat pumps and retrofit, heat distribution, biomass boilers and solar heating.

What is the UK's goal for clean electricity and net-zero carbon emissions?

The UK aims to be powered entirely by clean electricity by 2035 and have net-zero carbon emissions by 2050.