KBR Signs Agreement with ISU Chemical for Next Generation Battery Technology

Rhea-AI Summary

KBR (NYSE: KBR) announced a joint development agreement with ISU Chemical Co. Ltd. on April 19, 2023, to design a commercial-scale lithium sulfide (Li2S) unit for next-generation battery technology. As the exclusive licensor of this innovative technology, KBR aims to advance the production of all-solid-state batteries, known for their safety, efficiency, and enhanced power storage capabilities. Doug Kelly, KBR's President of Technology, emphasized the importance of this collaboration in promoting renewable energy utilization. The partnership combines ISU Chemical's R&D expertise with KBR's extensive experience in process technologies, aiming to achieve cost competitiveness and supply stability in lithium sulfide production, a crucial component for modern batteries.

Positive

• Joint development agreement with ISU Chemical enhances KBR's position in next-gen battery technology.
• KBR is the exclusive licensor of lithium sulfide technology, potentially increasing revenue streams.
• Collaboration aims to improve efficiency in renewable energy utilization.

Negative

• None.

HOUSTON, April 19, 2023 /PRNewswire/ -- KBR (NYSE: KBR) announced today that it has signed a joint development agreement with ISU Chemical Co. Ltd. for the design of a commercial scale lithium sulfide (Li2S) unit for next generation battery technology.

Under the terms of the agreement, KBR will be the exclusive licensor of this technology. Lithium sulfide is used in the production of all-solid-state batteries, which in addition to being inherently safer and more efficient than conventional lithium-ion batteries, store more power.

"We are pleased to work with ISU Chemical to jointly develop and design commercial-scale plants for manufacturing next generation battery materials," said Doug Kelly, KBR President, Technology. "This technology will play a valuable role in helping the industry transition towards more efficient utilization of renewable energy."

"The combination of ISU Chemical's experience accumulated through R&D and demonstration plant operation, and KBR's leadership in developing process technologies for large-scale commercial production will establish a strong foundation for building next generation battery technology," said Seung-Ho Lyu, CEO, ISU Chemical. "This will help our clients achieve price competitiveness and supply stability for the production of lithium sulfide."

KBR's process knowledge for recovery and purification of inorganic materials is based on over 40 years of experience in designing evaporation and crystallization technologies that comply with today's demanding environmental regulations.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 30,000 people performing diverse, complex and mission-critical roles in 34 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 joint development agreement with ISU Chemical, 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 the recent news about KBR and ISU Chemical?

KBR signed a joint development agreement with ISU Chemical to design a lithium sulfide unit for advanced battery technology.

How will KBR's agreement with ISU Chemical impact battery technology?

The agreement aims to develop all-solid-state batteries, which are safer and more efficient than traditional lithium-ion batteries.

What is the significance of lithium sulfide in battery production?

Lithium sulfide (Li2S) is crucial for next-generation batteries, enhancing their power storage capabilities.

When was the agreement between KBR and ISU Chemical announced?

The agreement was announced on April 19, 2023.

What role does KBR play in the new battery technology?

KBR will be the exclusive licensor of the lithium sulfide technology, leveraging its process knowledge for commercial production.