KBR Green Ammonia Technology Selected by OCIOR Energy in India

HOUSTON, July 1, 2024 /PRNewswire/ -- KBR (NYSE: KBR) announced today its green ammonia technology, K-GreeN^®, has been selected by OCIOR Energy for its plant located in Odisha's Gopalpur region, India. This will be the 10^th KBR-licensed green ammonia plant globally and the first to be located in India.

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.

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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 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.

SOURCE KBR, Inc.