HOUSTON , April 13, 2023 /PRNewswire/ — KBR (NYSE: KBR ) today announced the signing of a Memorandum of Understanding (MoU) with Atlas Agro AG regarding a planned investment in KBR's innovative K-Green® technology for Atlas. In a series of green nitrate plants.
Under the Memorandum of Understanding, KBR will license the technology, basic engineering design, proprietary equipment and incentives for the production of zero-carbon nitrogen fertilizer. Engineering design for the first US plant began in March 2023.
"We are excited to support Atlas Agro's zero-carbon fertilizer concept using K-Green's market-leading green ammonia technology," said Doug Kelly, KBR President of Technology. "We are also confident that we will be able to provide strategic integration across the entire production chain to accelerate the availability of pure ammonia worldwide."
"We are proud to work with KBR and use the K-Green process for green manure plants," says Peter Ostbø, CEO of Atlas Agro. "Each of our green ammonia plants produces fertilizer that helps feed nearly 16 million people and offset more than a million tons of global carbon emissions each year."
KBR is the world leader in ammonia technology with a market share of around 50% of licensed capacity. Since 1943, KBR has licensed, designed or built more than 250 basic ammonia plants worldwide.
We provide scientific, technological and engineering solutions to governments and businesses around the world. KBR employs approximately 30,000 people in 34 countries in diverse, complex and mission-critical roles.
KBR is proud to partner with its customers around the world to provide technology, value-added services, long-term operation and maintenance with predictable results. In KBR we deliver
Statements that are not historical statements contained in this press release, including statements regarding the Company's Memorandum of Understanding with Atlas Agro AG, are forward-looking statements within the meaning of federal securities laws. These statements are subject to numerous risks, uncertainties and assumptions, many of which are beyond the company's control, which could cause actual results to differ materially from those expressed or implied in the statements. Such risks, uncertainties and assumptions include those disclosed in the Company's most recent annual report on Form 10-K, any subsequent Forms 10-Q and 8-K, and other securities and exchange filings. The Committee discusses some of the key risks, uncertainties and assumptions that may affect the Company's operations. Because of these risks, uncertainties and assumptions, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of today. Except as required by law, the Company undertakes no obligation to publicly revise or update any forward-looking statements for any reason.
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Source: KBR, Inc.