KBR Awarded Green Ammonia Contract to Meet Growing Clean Energy Demand in Japan

HOUSTON, May 11, 2022 /PRNewswire/ -- KBR (NYSE: KBR) announced today that it was awarded a contract for its green ammonia technology, K-GreeN^®, from JGC Holdings Corporation ("JGC") for a project sponsored by New Energy and Industrial Technology Development Organization (NEDO), a national research and development agency in Japan.

Under the terms of the contract, KBR will provide technology licensing and basic engineering for a pilot project under NEDO's Green Innovation Fund in Fukushima, Japan.

"Japan is playing a leading role in the adoption of green ammonia to decarbonize our planet," said Doug Kelly, KBR President, Technology. "KBR is proud to partner with JGC to offer our green ammonia technology for NEDO's project, and we are confident this will pave the way for further collaboration."

KBR is the 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 250 grassroot ammonia plants worldwide.

About KBR
We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 28,000 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     

About JGC 
Centered on the two business segments of the EPC business targeting an extensive business field, and functional materials manufacturing propped up by unique technologies, JGC operates businesses in a variety of regions throughout the world.

In addition, JGC is making various efforts to promote the use of hydrogen and ammonia, which are expected to contribute to decarbonization of society. JGC started green chemical plant demonstration projects utilizing large-scale hydrogen production systems with Asahi Kasei Corporation nder the "Green Innovation Fund" by NEDO. In the green ammonia project, Asahi Kasei supplies green hydrogen from its large-scale alkaline water electrolysis system at the Fukushima Hydrogen Energy Research Field (FH2R) to the ammonia plant.

Visit www.jgc.com/en/

Forward Looking Statement

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, 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 and uncertainties include, but are not limited to: the significant adverse impacts on economic and market conditions of the COVID-19 pandemic and the company's ability to respond to the resulting challenges and business disruption; the recent dislocation of the global energy market; the company's ability to manage its liquidity; the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; changes in capital spending by the company's customers; the company's ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company's ability to control its cost under its contracts; claims negotiations and contract disputes with the company's customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; the possibility of cyber and malware attacks; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.

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 discuss some of the important risk factors that the company has identified that may affect its business, results of operations and financial condition. 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.